Download what is idaho hiding?

WHAT IS IDAHO HIDING?
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83% of Idaho’s retirement
debt is not clearly disclosed
on its balance sheet.
These debts are not reported on Idaho balance sheet, because state officials use antiquated
accounting rules to report Idaho’s financial condition. Even if these hidden debts are counted,
Idaho appears to be in a positive financial position.
Truth in Accounting’s detailed analysis discovered a total of $323 million of retirement benefits
are owed, but not funded. Because of the confusing way the state does its accounting, only $55
million of these liabilities are reported on Idaho’s balance sheet. When this debt is included,
Idaho has $1 billion of assets in excess of the state bills.
IDAHO’S ASSETS EXCEED ITS BILLS
$5 Billion
ASSETS
AVAILABLE
$4 Billion
BILLS
$1 Billion
AVAILABLE TO
PAY FUTURE BILLS