CRI News

Delaware Lags in Fiscal Health

by Dr. John Stapleford, CRI Chair
The 2018 ranking of states by fiscal condition has been issued by the Mercatus Center. The analysis is based upon FY16 financial reports.
Delaware ranks 44th among the states for fiscal health.
Delaware has between 1.34 and 1.98 times the cash needed to cover short-term obligations. Revenues only cover 96 percent of expenses, with a worsening net position of –$377 per capita. In the long run, Delaware has a net asset ratio of –0.15.
Long-term liabilities are higher than the national average in per capita terms at $7,537 per capita, but slightly lower than the national average when measured as a percentage of total assets. Total unfunded pension liabilities that are guaranteed to be paid are $13.75 billion, or 30 percent of state personal income. OPEB is only 4% funded and equals $7.73 billion, or 17 percent of state personal income.
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