West Virginia

TIA Data

2017 Financial State of West Virginia (Released 5/15/2018)

 
West Virginia owes more than it owns.
West Virginia has a -$9,500 Taxpayer Burden.™
West Virginia 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.
West Virginia only has $8.3 billion of assets available to pay bills totaling $13.2 billion.
Because West Virginia doesn't have enough money to pay its bills, it has a $4.9 billion financial hole. To fill it, each West Virginia taxpayer would have to send $9,500 to the state.
West Virginia has delayed the recognition of changes in its pension liability. As a result of this and other deferrals, the state's overall net position is inflated by $1.3 billion.
Despite reporting all of its pension debt, the state is still hiding $91.9 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 184 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2016 Financial State of West Virginia

2015 Financial State of West Virginia

2014 Financial State of West Virginia

2013 Financial State of West Virginia

Other Resources

West Virginia Comprehensive Annual Financial Reports

Publishing Entity: Department of Administration - Finance Division

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