TIA Data

2017 Financial State of Minnesota (Released 9/25/2018)

Minnesota owes more than it owns.
Minnesota has a -$4,700 Taxpayer Burden.™
Minnesota is a Sinkhole State without enough assets to cover its debt.
Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.
Minnesota only has $21 billion of assets available to pay bills totaling $30.7 billion.
Because Minnesota doesn't have enough money to pay its bills, it has a $9.7 billion financial hole. To fill it, each Minnesota taxpayer would have to send $4,700 to the state.
Minnesota's reported net position is inflated by $10.2 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
The state is still hiding $314.2 million of its retiree health care debt. A new accounting standard will be implemented in the 2018 fiscal year which will require states to report this debt on the balance sheet.
The state's financial report was released 168 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2016 Financial State of Saint Paul

2016 Financial State of Minnesota

2016 Financial State of Minneapolis

2015 Financial State of Minnesota

2014 Financial State of Minnesota

2013 Financial State of Minnesota

Other Resources

Minnesota Comprehensive Annual Financial Reports

Publishing Entity: Minnesota Management and Budget