Truth in Accounting
New Jersey

TIA Data

2020 Financial State of New Jersey (Released 9/28/2021)

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New Jersey owes more than it owns.
New Jersey's Taxpayer Burden™ is -$58,300, and it received an "F" from TIA.
New Jersey 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.
New Jersey only has $31.7 billion of assets available to pay bills totaling $216.9 billion.
Because New Jersey doesn't have enough money to pay its bills, it has a $185.2 billion financial hole. To fill it, each New Jersey taxpayer would have to send $58,300 to the state.
New Jersey's reported net position is understated by $40.9 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.
The state's financial report was released 275 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2019 Financial State of New Jersey

2018 Financial State of New Jersey

2017 Financial State of New Jersey

2016 Financial State of New Jersey

2015 Financial State of New Jersey

2014 Financial State of New Jersey

2013 Financial State of New Jersey

2012 Financial State of New Jersey

2011 Financial State of New Jersey

2010 Financial State of New Jersey

2009 Financial State of New Jersey

Other Resources

New Jersey Comprehensive Annual Financial Reports

Publishing Entity: Office of Management and Budget

IN THE NEWS
Truth in Accounting: NJ’s debt burden now $58,300 per taxpayer

NOVEMBER 23, 2021 | SUNLIGHT POLICY CENTER OF NEW JERSEY | by Editorial

Includes “Truth in Accounting published its annual “Financial State of the States 2021,” and the good news is that New Jersey broke its streak of six consecutive years as the most indebted state.  The very bad news is that despite the gusher of federal COVID-relief money New Jersey ranked 49th, with an average debt burden of $58,300 per taxpayer. ”

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