Ohio

TIA Data

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

 
Ohio owes more than it owns.
Ohio has a -$7,700 Taxpayer Burden.™
Ohio 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.
Ohio only has $47.4 billion of assets available to pay bills totaling $78.1 billion.
Because Ohio doesn't have enough money to pay its bills, it has a $30.7 billion financial hole. To fill it, each Ohio taxpayer would have to send $7,700 to the state.
Ohio's reported net position is inflated by $8.3 billion, largely because the state defers recognizing losses incurred when the net pension liability increases.
Despite a recently implemented accounting standard meant to increase transparency, Ohio still excludes $3.3 billion of pension debt from its balance sheet. In addition, the state is still hiding $3.5 billion 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 175 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Ohio

2016 Financial State of Toledo

2016 Financial State of Columbus

2016 Financial State of Cleveland

2016 Financial State of Cincinnati

2015 Financial State of Ohio

2014 Financial State of Ohio

2013 Financial State of Ohio

Other Resources

Ohio Comprehensive Annual Financial Reports

Publishing Entity: Office of Budget and Management

IN THE NEWS
Ohio becomes first state to accept bitcoin for tax payments

NOVEMBER 26, 2018 | THE CINCINNATI ENQUIRER | by Jessie Balmert

COLUMBUS - Ohio businesses now can pay their taxes with check, money order and ... bitcoin. On Monday, Ohio became the first state in the nation to accept the cryptocurrency, bitcoin, for 23 different business taxes ranging from sales tax to severance taxes on oil and gas. 

VIEW LESS