Oklahoma

TIA Data

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

 
Oklahoma owes more than it owns.
Oklahoma has a -$2,900 Taxpayer Burden.™
Oklahoma 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.
Oklahoma only has $10.1 billion of assets available to pay bills totaling $13.3 billion.
Because Oklahoma doesn't have enough money to pay its bills, it has a $3.2 billion financial hole. To fill it, each Oklahoma taxpayer would have to send $2,900 to the state.
Oklahoma's reported net position is inflated by $1.6 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, Oklahoma still excludes $3.5 billion of pension debt from its balance sheet. In addition, the state is still hiding $5.4 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 174 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of Oklahoma

2016 Financial State of Oklahoma City

2016 Financial State of Tulsa

2015 Financial State of Oklahoma

2014 Financial State of Oklahoma

2013 Financial State of Oklahoma

Other Resources

Oklahoma Comprehensive Annual Financial Reports

Publishing Entity: Office of Management and Enterprise Services (OMES)

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