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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"As three-term Mayor Joyce Craig prepares to leave office later this year — possibly to run for governor — she’s leaving behind $276 million in debt, a hole in city budgeting most taxpayers know nothing about."
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
Truth in Accounting's twelfth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information.
By Erika Cohen (school board member in Derry, New Hampshire) includes “Over five years, I have learned that those facts are usually numbers, but the words I use to explain them are even more important."
By Garry Rayno, includes “… Most governors put their budgets together with chewing gum and baling wire. … Sununu’s budget proposal includes hefty revenue projections that would increase 5.5% over the current budget plan. And he would use about $30 million of the state’s $115.5 million rainy day fund to balance the current biennium’s budget which is projected to have a $50 million deficit.” (Note: Drawing down bank accounts to “balance budgets?”)
Editorial, includes “Can a state collect income tax from nonresidents working remotely for in-state businesses? Massachusetts, New York and some other states claim they can, and now New Hampshire is asking the Supreme Court to protect its citizens from this tax grab…”
Impeachment is easy. Governing is hard. That may be the lesson Democrats on Capitol Hill are about to learn as President-elect Joe Biden prepares to take office. … But the plan also includes a $350 billion bailout of state and local governments, many of them poorly governed and chronically in debt
Faced with a $2.2 billion shortfall of unfunded financial obligations, New Hampshire entered the current pandemic playing catch-up and could face more challenging headwinds in the future, a new report states.
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.
Student debt is at an all-time high of $1.5 trillion. College is more expensive than ever as it is estimated the cost of tuition has raised about 25 percent in the last 25 years, and it shows no signs of slowing down.
How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises?
The coronavirus pandemic is paving the way for a state budget crisis that will likely be deeper than any Maine has seen in decades.
For a century and a half in New Hampshire, citizens could sue their state if they believed its actions were illegal or unconstitutional -- regardless of whether it violated their personal rights. Then, in 2014, the state Supreme Court ended that right.
Roundup of recent news by Liz Farmer, includes "... When it comes to where taxpayers get the best bang for their buck, New Hampshire rises to the top.
By Tony Schinnela, includes "... The legislatures of 28 of the needed 34 states, including New Hampshire, have already adopted the needed BBA resolutions.