Missouri owes more than it owns. |
Missouri's Taxpayer Burden™ is -$4,400, and it received a "C" from TIA. |
Missouri 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. |
Missouri only has $13.5 billion of assets available to pay bills totaling $21.7 billion. |
Because Missouri doesn't have enough money to pay its bills, it has a $8.2 billion financial hole. To fill it, each Missouri taxpayer would have to send $4,400 to the state. |
Missouri's reported net position is overstated by $1.6 billion, largely because the state delays recognizing losses incurred when the net pension liability increases. |
The state's financial report was released 240 days after its fiscal year end, which is considered untimely according to the 180 day standard. |