Indiana owns more than it owes. |
Indiana's Taxpayer Surplus™ is $2,100, and it received a "B" from TIA. |
Indiana is a Sunshine State with enough assets to cover its debt. |
Elected officials have created a Taxpayer Surplus™, which is each taxpayer's share of money available after state bills have been paid. |
TIA's Taxpayer Surplus™ measurement incorporates both assets and liabilities, not just pension debt. |
Indiana has $32.6 billion of assets available to pay the state's bills totaling $28.2 billion. |
Indiana has $4.4 billion available after bills have been paid, which breaks down to $2,100 per taxpayer. |
Indiana's reported net position is overstated by $2 billion, largely because the state delays recognizing losses incurred when the net pension liability increases. |
The state's financial report was released 190 days after its fiscal year end, which is considered untimely according to the 180 day standard. |