North Carolina's Fiscal Health Ranks Ninth In The Nation |
State Government |
By Administrator |
Wednesday, 10 October 2018 10:05 |
George Mason University's Mercatus Center today released its 2018 State Fiscal rankings, positioning North Carolina at ninth in the country. The study ranked North Carolina 2nd in budget solvency and 8th in long-run solvency. What follows is a summary of its findings.
On the basis of its solvency in five separate categories, North Carolina ranks 9th among the US states for fiscal health. North Carolina has between 1.67 and 2.72 times the cash needed to cover short-term obligations. Revenues exceed expenses by 12 percent, with an improving net position of $530 per capita. In the long run, North Carolina has a net asset ratio of 0.08. Long-term liabilities are lower than the national average, at 14 percent of total assets, or $938 per capita. Total unfunded pension liabilities that are guaranteed to be paid are $131.56 billion, or 31 percent of state personal income. OPEB are $32.47 billion, or 8 percent of state personal income.
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For a complete explanation of the methodology used to calculate North Carolina's fiscal health rankings, download the full paper and the dataset at mercatus.org/statefiscalrankings. |
Last Updated on Wednesday, 10 October 2018 10:20 |