Truth in Accounting

Minnesota

TIA Data

2023 Financial State of Minnesota (Released 10/03/2024)

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Minnesota owns more than it owes.
Minnesota has a $6,500 Taxpayer Surplus.™
Minnesota 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.
Minnesota has $43.9 billion of assets available to pay the state's bills totaling $28.9 billion.
Minnesota has $14.9 billion available after bills have been paid, which breaks down to $6,500 per taxpayer.
Minnesota'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

2022 Financial State of Minnesota

2021 Financial State of Minnesota

2020 Financial State of Minnesota

2019 Financial State of Minnesota

2018 Financial State of Minnesota

2017 Financial State of Minnesota

2016 Financial State of Minnesota

2015 Financial State of Minnesota

2014 Financial State of Minnesota

2013 Financial State of Minnesota

2012 Financial State of Minnesota

2011 Financial State of Minnesota

2010 Financial State of Minnesota

2009 Financial State of Minnesota

City and Other Municipal Reports

Financial State of Minneapolis

Financial State of Saint Paul

Other Resources

Minnesota Annual Comprehensive Financial Reports

Publishing Entity: Minnesota Management and Budget

IN THE NEWS
Financial State of the States 2024

OCTOBER 3, 2024

Our fifteenth annual Financial State of the States (FSOS) report provides a comprehensive analysis of the fiscal health of all 50 states.

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