Rhode Island

TIA Data

2023 Financial State of Rhode Island (Released 10/03/2024)

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

 
Rhode Island owes more than it owns.
Rhode Island has a -$8,800 Taxpayer Burden.™
Rhode Island 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.
Rhode Island only has $8.6 billion of assets available to pay bills totaling $12.6 billion.
Because Rhode Island doesn't have enough money to pay its bills, it has a -$4 billion financial hole. To fill it, each Rhode Island taxpayer would have to send -$8,800 to the state.
Rhode Island's reported net position is overstated by $330.1 million, largely because the state delays recognizing losses incurred when the net pension liability increases.
The state's financial report was released 243 days after its fiscal year end, which is considered untimely according to the 180 day standard.
 

Prior Years' TIA Data

2022 Financial State of Rhode Island

2021 Financial State of Rhode Island

2020 Financial State of Rhode Island

2019 Financial State of Rhode Island

2018 Financial State of Rhode Island

2017 Financial State of Rhode Island

2016 Financial State of Rhode Island

2015 Financial State of Rhode Island

2014 Financial State of Rhode Island

2013 Financial State of Rhode Island

2012 Financial State of Rhode Island

2011 Financial State of Rhode Island

2010 Financial State of Rhode Island

2009 Financial State of Rhode Island

City and Other Municipal Reports

2016 Financial State of Providence

Other Resources

Rhode Island Annual Comprehensive Financial Reports

Publishing Entity: Office of Accounts and Control

SNAPSHOT BY THE NUMBERS
  • Rhode Island's Bills Exceed Its Assets
  • Assets * $20.8
  • Less: Capital Assets * $8
  • Restricted Assets * $4.1
  • Assets Available to Pay Bills * $8.6
  • Less: Bills * $12.6
  • Money Available (Needed) to Pay Bills * ($4)
  • Each Taxpayer's Surplus (Burden) ($8,800)
  • The Bills Rhode Island has Accumulated
  • State Bonds * $5.7
  • Other Liabilities * $4.8
  • Less: Debt Related to Capital Assets * $1.4
  • Unfunded Pension Benefits * $3.2
  • Unfunded Retirees' Health Care Benefits * $0.3
  • Bills * $12.6
  • * figures in billions
IN THE NEWS
Financial Transparency Score 2024

APRIL 23, 2024

Truth in Accounting has once again created a transparency score for the financial reporting by state governments to encourage the publication of transparent and accurate government financial information.

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