Truth in Accounting
Virginia

TIA Data

2021 Financial State of Virginia (Released 10/25/2022)

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

 
Virginia owns more than it owes.
Virginia's Taxpayer Surplus™ is $3,600, and it received a "B" from TIA.
Virginia 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.
Virginia has $64.6 billion of assets available to pay the state's bills totaling $54.2 billion.
Virginia has $10.4 billion available after bills have been paid, which breaks down to $3,600 per taxpayer.
Virginia's reported net position is overstated by $1.5 billion, largely because the state delays recognizing losses incurred when the net pension liability increases.
The state's financial report was released 168 days after its fiscal year end, which is considered timely according to the 180 day standard.
 

Prior Years' TIA Data

2020 Financial State of Virginia

2019 Financial State of Virginia

2018 Financial State of Virginia

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

Financial State of Virginia Beach

Other Resources

Virginia Comprehensive Annual Financial Reports

Publishing Entity: Virginia Department of Accounts

IN THE NEWS
City of Norfolk seeks public input for American Rescue Plan funding use

FEBRUARY 1, 2022 | 13NEWS NOW – NORFOLK, VA | by Editorial

“The city of Norfolk was given $154.1 million in funding through the American Rescue Plan Act (ARPA), and leaders are seeking community input on how the money should be spent. If you're a resident who has ideas, there are a few ways you can make your voice heard. There are several drop-boxes across the city where you can submit your thoughts.”

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