Financial Transparency Score 2024

APRIL 23, 2024

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.

28 States Didn’t Have Enough Money to Cover Their Bills in Fiscal 2022: Report

DECEMBER 24, 2023 | PENNSYLVANIA DAILY STAR | by Bethany Blankley

"In fiscal 2022, 28 states didn’t have enough revenue to pay all of their bills, according to the 14th annual Financial State of the States report, published by the Chicago-based nonprofit Truth in Accounting.

The report provides a comprehensive analysis of the fiscal health of all 50 states based on the latest available data from states’ fiscal year 2022 annual comprehensive financial reports.

New Jersey ranked last for having the worst fiscal health and the greatest taxpayer burden. Not far behind was Connecticut, followed by Illinois, Massachusetts, Hawaii, Kentucky, Delaware, Louisiana, California and Vermont in the bottom ten.

By contrast, 22 states reported surpluses, the majority of which are led by Republican governors."


Hot off the Press! The State Report is Out: How Did Your State Do???

DECEMBER 10, 2023

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.

Accounting is a methodology for measuring value. It's the process of identifying, measuring, and communicating economic information to enable well-informed assessments and choices for those who rely on the informationgood accounting matters!  


Financial State of the States 2022

OCTOBER 24, 2022

This year's report found that 31 states did not have enough money to pay all of their bills.

New study measures financial transparency among state governments

NOVEMBER 16, 2021


Financial Transparency Score 2021

NOVEMBER 16, 2021

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. 

Majority of state finances worsened during beginning of pandemic

SEPTEMBER 28, 2021


Financial State of the States 2021

SEPTEMBER 28, 2021

Truth in Accounting's twelfth annual Financial State of the States report, a nationwide analysis of the most recent state government financial information.

Thirty-nine states ill-prepared for coronavirus pandemic

SEPTEMBER 22, 2020

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.

Oklahoma lawmakers oppose federal bailout of states


Twenty-three Oklahoma state legislators have joined colleagues from across the country to oppose additional federal bailouts for state governments, signing a letter that declares bailouts will incentivize poor financial management and punish fiscally prudent states.

Oklahoma City draws some MAPS to avoid public debt


Debt is a very common aspect of life in the U.S. If you own a house, you might be paying off a loan you used to buy it, and it could be years before you’ve finished doing so. Cities do this too for large public projects, except their debt frequently takes shape as municipal bonds.

State general revenue shortfall projections

JUNE 1, 2020 | by Bill Bergman, Sheila Weinberg

How large could the shortfall in state government general revenues be, amidst the coronavirus and related crises? 

The best and worst examples of pension oversight

JUNE 20, 2019 | ILLINOIS PATCH | by Jason O'Day

As of fiscal year 2017 the state of Illinois had $134.3 billion in unfunded pension benefits, up from $62.4 billion in 2009.

Scope of sheriff’s office audit becomes investigative

JANUARY 25, 2019 | THE MIAMI NEWS-RECORD (OKLAHOMA) | by Carla Nielsen

Audits are conducted pursuant to the Government Auditing Standards, known as the 'Yellow Book,' issued by the Comptroller General and may have financial and/or performance objectives.

Locals say they are concerned about deficits


With the end of fiscal 2018 arriving Sept. 30 for the federal government, bean counters at the Treasury could conduct a tally on the effect of the year's tax cuts - supported by the Republicans - on the national deficit.

Will Oklahoma finally wean its budget off oil?

OCTOBER 29, 2018 | GOVERNING | by Liz Farmer

The reason Oklahoma is so susceptible to the oil market is because it's one of only two oil states in the country -- the other is Louisiana -- that doesn’t protect its budget by reinvesting at least a portion of its oil revenue.

Think your state is fiscally sound? Think again

OCTOBER 11, 2018 | REASON | by Veronique de Rugy

It's that time of the year again when we find out how deep in the red our country is thanks to the 2018 edition of the Mercatus Center State Fiscal Rankings.

Public pension funding remains challenging, despite two-year streak of healthy investment returns

SEPTEMBER 27, 2018 | REASON FOUNDATION | by Anil Naraula

What does the investment return for Fiscal Year 2018 mean as part of the big picture?

Former Oklahoma police pension fund chief charged with seven felonies

MAY 4, 2018 | GOVERNING | by Kyle Schwab

The fired executive director of the Oklahoma Police Pension and Retirement System was charged Tuesday with seven felony counts stemming from allegations he disguised personal vacations as business trips.

Tens of thousands of teachers planning massive rallies and classroom walkouts

APRIL 2, 2018 | ABC NEWS | by Bill Hutchinson, Brendan Rand

On Monday, thousands of teachers and supporters in Kentucky are expected to descend on the state capitol in Frankfort to demand Gov. Matt Bevin veto a bill that overhauls their pension plan, which they say was forged by lawmakers in secret backroom deals.

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