Ohio

TIA Data

2016 Financial State of Ohio (Released 5/15/2017)

2015 Financial State of Columbus (Released 1/11/2017)

 
Ohio owes more than it owns and ranks the 24th out of the 50 states.
Ohio's Taxpayer Burden™ is -$5,800, and received a "D" from TIA.
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 $45 billion of assets available to pay bills totaling $67.6 billion.
Because Ohio doesn't have enough money to pay its bills, it has a $22.6 billion financial hole. To fill it, each Ohio taxpayer would have to send $5,800 to the state.
Because of an accounting rule implemented last year, Ohio has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $5 billion in 2015 to $6.9 billion in 2016.
Despite reporting most of its pension debt, the state is still hiding $3.1 billion of retiree health care debt. A new accounting standard will be implemented in two years, and 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

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
Biss: Illinois suffocating under too many pension systems

JANUARY 10, 2018 | THE DAILY HERALD | by Marni Pyke

Merging Illinois' more than 600 pension systems could reduce inefficiencies and save money, state Sen. Daniel Biss said Tuesday during an interview in which he also hinted at his income tax plan and revealed "micromanaging" by House Speaker Mike Madigan.

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