TIA Data

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

Washington owes more than it owns.
Washington has a -$8,700 Taxpayer Burden.™
Washington 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.
Washington only has $39.2 billion of assets available to pay bills totaling $62.2 billion.
Because Washington doesn't have enough money to pay its bills, it has a $23 billion financial hole. To fill it, each Washington taxpayer would have to send $8,700 to the state.
Washington's reported net position is inflated by $1.3 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, Washington still excludes $4.6 billion of pension debt from its balance sheet. In addition, the state is still hiding $7.3 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 125 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2016 Financial State of Washington

2015 Financial State of Washington

2014 Financial State of Washington

2013 Financial State of Washington

2012 Financial State of Washington

2011 Financial State of Washington

2010 Financial State of Washington

2009 Financial State of Washington

City and Other Municipal Reports

Financial State of Seattle

Other Resources

Washington Comprehensive Annual Financial Reports

Publishing Entity: Office of Financial Management