West Virginia owns more than it owes. |
West Virginia's Taxpayer Surplus™ is $1,000, and it received a "B" from TIA. |
West Virginia is a Sunshine State with enough assets to cover its debt. |
Elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after state bills have been paid. |
TIA's Taxpayer Surplus™ measurement incorporates both assets and liabilities, not just pension debt. |
West Virginia has $13.3 billion of assets available to pay the state's bills totaling $12.9 billion. |
West Virginia has $491.5 million available after bills have been paid, which breaks down to $1,000 per taxpayer. |
West Virginia's reported net position is understated by $1.7 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities. |
The state's financial report was released 169 days after its fiscal year end, which is considered timely according to the 180 day standard. |