Truth in Accounting’s Financial Transparency Score 2026 evaluates how effectively each state government discloses its true financial condition through audited financial reports.
States face a significant loss of federal dollars as temporary pandemic-related programs that were initiated in 2020 come to an end and national fiscal pressures rise.
Our sixteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.
At Truth in Accounting, we are wrapping up our annual Financial State of the States report—an in-depth look at each state’s financial condition based on their audited financial statements. This year, as in years past, we are relying on each state’s 2024 Annual Comprehensive Financial Report (ACFR).
But here’s the problem: several states have yet to issue their ACFRs, and time is running out.
In the spirit of promoting clear and accurate fiscal information, Truth in Accounting has once again assessed the transparency of state governments’ financial reporting. While state budgets receive most of the public and media’s attention, their outcomes are detailed in each government's Annual Comprehensive Financial Report (ACFR), which is audited annually by certified public accountants. Our transparency score is based on key criteria outlining best practices, offering government officials and citizens a roadmap to enhance fiscal transparency and accountability.
Our fifteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.
Truth in Accounting has once again created a transparency score for the financial reporting by state governments to encourage the publication of transparent and accurate government financial information.
Now Available
Our annual report on state fiscal health. Debt among the states improved slightly. Going from $1.2 trillion down to $938.6 billion.
What happened?
How did your state do? Read the full report below.
https://www.truthinaccounting.org/news/detail/financial-state-of-the-states-2023
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This year's report found that 31 states did not have enough money to pay all of their bills.
To encourage the publication of transparent and accurate government financial information, Truth in Accounting has created a transparency score for financial reporting by the states.
PRESS RELEASE - FOR IMMEDIATE RELEASE
By Andrea Noble, includes “Some states are concerned they could lose out on federal covid relief funding if they cut taxes. But not Idaho. … Both tax policy experts and state officials believe Idaho’s rapid economic growth will offset the tax cuts, making them feasible under federal funding rules.”
Includes “House Bill 73 provides for uniform accounting practices and establishes a ‘committee on uniform accounting and transparency for local governmental entities.’ … … Without the will to rein in spending by these local governments and by allowing them to lobby against reform, it is highly unlikely that transparency will reduce spending.”
The 2020 Financial State of the States report surveys the fiscal health of the 50 states prior to the coronavirus pandemic. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.
Recently, some organizations in Idaho have been agitating for additional federal spending to finance direct subsidies to individuals. Some have even resorted to publicly displaying banners on a busy street in downtown Boise calling on elected officials to further increase spending.
How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises?
Truth in Accounting, a nonpartisan watchdog group, dedicated to analyzing government accounting data from each of the 50 states, has ranked Idaho one of the most financially transparent states in the U.S.
Congress could consider some comprehensive reforms of Social Security if they improve the program’s solvency and protect the benefits of retirees and those close to retirement, the Republican representing Eastern Washington voters said.
Forty-one U.S. states do not have enough money to pay their bills, collectively they have racked up $1.5 trillion in unfunded liabilities.