Virginia : State Data and Comparisons : Data-Z

TIA Data

2018 Financial State of Virginia (Released 9/24/2019)

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Virginia owes more than it owns.

Virginia's Taxpayer Burden™ is -$1,200, and it received a "C" from TIA.

Virginia 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.

Virginia only has $39.8 billion of assets available to pay bills totaling $43.3 billion.

Because Virginia doesn't have enough money to pay its bills, it has a $3.5 billion financial hole. To fill it, each Virginia taxpayer would have to send $1,200 to the state.

Virginia's reported net position is inflated by $419.5 million, largely because the state defers recognizing losses incurred when the net pension liability increases.

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

2017 Financial State of Virginia

2016 Financial State of Virginia

2015 Financial State of Virginia

2014 Financial State of Virginia

2013 Financial State of Virginia

2012 Financial State of Virginia

2011 Financial State of Virginia

2010 Financial State of Virginia

2009 Financial State of Virginia

City and Other Municipal Reports