Vermont : State Data and Comparisons : State Data Lab

TIA Data

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

Vermont owes more than it owns and ranks the 38th out of the 50 states.

Vermont's Taxpayer Burden™ is -$17,100, and received a "D" from TIA.

Vermont 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.

Vermont only has $3.8 billion of assets available to pay bills totaling $7.8 billion.

Because Vermont doesn't have enough money to pay its bills, it has a $4 billion financial hole. To fill it, each Vermont taxpayer would have to send $17,100 to the state.

Because of an accounting rule implemented last year, Vermont has to report its pension debt on its balance sheet. This year, the state's reported pension debt grew from $1.3 billion in 2015 to $1.7 billion in 2016.

Despite reporting most of its pension debt, the state is still hiding $1.4 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 180 days after its fiscal year end, which is considered timely according to the 180 day standard.