Report Gives Delaware 'F' Grade for its Fiscal Health - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Report Gives Delaware 'F' Grade for its Fiscal Health

Posted: 09/27/2017 07:32:00 -04:00 Updated:

DOVER, Del. (AP/WBOC)- A new report has given Delaware an "F'' grade for its fiscal health.

The analysis from Truth in Accounting claims the state had an $8.5 billion gap between assets and liabilities in 2016. The nonprofit group focuses on state budgets.

Truth in Accounting said the burden on Delaware taxpayers rose by $6,600 per person from 2015 to 2016.

The report said Delaware had assets of $2.9 billion and liabilities of $11.4 billion, with most of its bills coming from pension benefits and retiree health care.

The report said it's not unusual to have state debt coming from unfunded retiree benefits.

A spokesman for Gov. John Carney said that the governor will continue working toward a balanced, long-term plan that addresses Delaware's financial challenges and invests in education, economic development, public safety and environmental protection.

Eight other states received "F" grades in the report: New York, California, Hawaii, Massachusetts, Connecticut, Illinois and New Jersey.

Click here to read the report in its entirety.





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