Alabama : State Data and Comparisons : Data-Z

Alabama

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Alabama owes more than it owns.

Alabama has a -$8,000 Taxpayer Burden.™

Alabama 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.

Alabama only has $21.9 billion of assets available to pay bills totaling $33.4 billion.

Because Alabama doesn't have enough money to pay its bills, it has a -$11.6 billion financial hole. To fill it, each Alabama taxpayer would have to send -$8,000 to the state.

Alabama's reported net position is overstated by $1.2 billion, largely because the state delays recognizing losses incurred when the net pension liability increases.

The state's financial report was released 178 days after its fiscal year end, which is considered timely according to the 180 day standard.