Wyoming has $26.9 billion worth of assets but most of these assets are not available to meet the state’s obligations. $6.5 billion of these assets are infrastructure like roads, bridges and parks which cannot realistically be used to pay bills. The use of $8.3 billion of the assets is also restricted by law or contract. The state has $12.1 billion in assets available to pay $8.3 billion of bills as they come due. This leaves Wyoming with more than $3.8 billion after its bills are paid.

 

Unlike most states, Wyoming has the money to pay the state employees’ retirement benefits and other costs. Wyoming is in good financial shape because the legislators and governors have only promised citizens what they can afford to deliver.

 

During these tough economic times, citizens need to be vigilant to make sure legislators do not use budgeting tactics that have put other states in financial crisis. These tactics include: borrowing money to pay current bills, charging current bills to the state’s “credit card” by delaying payment, and hiding current payroll costs by offering state employees benefits without providing adequate funding.

 

To be knowledgeable participants in the state's budget process, citizens need to be provided with truthful and transparent financial information.

 

Read Wyoming's Financial State of the States one-pager (PDF).