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North Carolina receives ‘C’ grade on national ranking of states’ fiscal health

Taxes

By Michael Carroll | Oct 10, 2019

Budget
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North Carolina would need $4 billion to pay all of its bills, including public employers’ pension benefits, according to a new ranking of the states’ fiscal health by Truth in Accounting (TIA).

North Carolina ranked 14th among the 50 states on fiscal health, according to the analysis by TIA, which is a Chicago-based nonprofit that reports on fiscal data from state and local governments.

The amount of the state’s shortfall in funds to pay off its bills amounts to $1,300 per taxpayer, the study found.

The TIA gave the state a financial grade of “C.”

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2019 State Rankings on Fiscal Health

RankStateMoney Needed / Available to Pay Bills (in Billions)Per-Taxpayer Debt / SurplusFinancial Grade
1Alaska$19.7$74,200A
2North Dakota$8.5$30,700A
3Wyoming$4$20,800A
4Utah$4.9$5,300B
5Idaho$1.5$2,900B
6Tennessee$5.8$2,800B
7South Dakota$0.85$2,800B
8Nebraska$1.3$2,000B
9Oregon$2.2$1,600B
10Iowa$0.78$700B
11Minnesota-$0.45-$200C
12Virginia-$3.5-$1,200C
13Oklahoma-$1.3-$1,200C
14North Carolina-$4-$1,300C
15Indiana-$3.6-$1,700C
16Florida-$12.1-$1,800C
17Montana-$0.75-$2,100C
18Arkansas-$1.8-$2,300C
19Arizona-$5.2-$2,500C
20Nevada-$3.1-$3,100C
21Wisconsin-$6.7-$3,200C
22Georgia-$10.2-$3,500C
23Missouri-$8.3-$4,300C
24New Hampshire-$2.7-$5,000D
25Ohio-$26.6-$6,000D
26Kansas-$6.5-$7,000D
27Colorado-$14.5-$7,200D
28Washington-$20-$7,400D
29Maine-$3.5-$7,400D
30West Virginia-$4.3-$8,300D
31Mississippi-$7.4-$10,000D
32Alabama-$15.9-$12,000D
33Texas-$98.7-$12,100D
34New Mexico-$7.7-$13,300D
35Rhode Island-$5.4-$13,900D
36South Carolina-$21.8-$14,500D
37Maryland-$33.5-$15,500D
38Michigan-$55-$17,000D
39Pennsylvania-$75-$17,100D
40Louisiana-$22-$17,700D
41Vermont-$4.5-$19,000D
42New York-$136.6-$20,500F
43California-$275-$21,800F
44Kentucky-$33.4-$25,700F
45Delaware-$9.1-$27,100F
46Hawaii-$15.4-$31,200F
47Massachusetts-$82-$31,200F
48Connecticut-$67.8-$51,800F
49Illinois-$223.9-$52,600F
50New Jersey-$208.8-$65,100F
Source: Truth in Accounting

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