Truth in Accounting
Pennsylvania

TIA Data

2020 Financial State of Pennsylvania (Released 9/28/2021)

Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

 
Pennsylvania owes more than it owns.
Pennsylvania's Taxpayer Burden™ is -$18,300, and it received a "D" from TIA.
Pennsylvania 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.
Pennsylvania only has $55.3 billion of assets available to pay bills totaling $133.8 billion.
Because Pennsylvania doesn't have enough money to pay its bills, it has a $78.5 billion financial hole. To fill it, each Pennsylvania taxpayer would have to send $18,300 to the state.
Pennsylvania's reported net position is understated by $8.4 billion, largely because the state delays recognizing gains resulting from decreases in retirement liabilities.
The state's financial report was released 167 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2019 Financial State of Pennsylvania

2018 Financial State of Pennsylvania

2017 Financial State of Pennsylvania

2016 Financial State of Pennsylvania

2015 Financial State of Pennsylvania

2014 Financial State of Pennsylvania

2013 Financial State of Pennsylvania

2012 Financial State of Pennsylvania

2011 Financial State of Pennsylvania

2010 Financial State of Pennsylvania

2009 Financial State of Pennsylvania

City and Other Municipal Reports

Financial State of Philadelphia

Financial State of Pittsburgh

Other Resources

Pennsylvania Comprehensive Annual Financial Reports

Publishing Entity: Pennsylvania Office of the Budget

IN THE NEWS
Pennsylvania middle of the road for financial transparency

DECEMBER 2, 2021 | THE PROGRESS (PENNSYLVANIA) | by Victor Skinner

By Victor Skinner (The Center Square), includes “Truth in Accounting CEO Sheila Weinberg told The Center Square that Pennsylvania lost points for using prior year pension numbers, a combined $18 billion in assets and liabilities in confusing ‘deferred inflows and outflows’ accounts, and the way officials report liabilities for the Public School Employees’ Retirement System.”

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