Utah owns more than it owes. |
Utah's Taxpayer Surplus™ is $6,500, and it received a "B" from TIA. |
Utah 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. |
Utah has $14.3 billion of assets available to pay the state's bills totaling $8.2 billion. |
Utah has $6.1 billion available after bills have been paid, which breaks down to $6,500 per taxpayer. |
Utah's reported net position is overstated by $72.1 million, largely because the state delays recognizing losses incurred when the net pension liability increases. |
The state's financial report was released 171 days after its fiscal year end, which is considered timely according to the 180 day standard. |