Report gives Delaware ‘F’ grade for its fiscal health
(AP) — 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 told the Delaware State News 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.