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The following article is provided by the Caesar Rodney Institute, a Delaware-based nonprofit 501(c)(3) public policy research organization.

It comes from a Policy Center Director who works to help Delawareans by providing fact-based analysis in four key areas:

education, energy and environmental policy, the economy and government spending, and health policy.

December 5, 2018: Delaware Lags in Fiscal Health

Delaware Lags in Fiscal Health

by Dr. John Stapleford, CRI Chair

12/5/2018

 

 

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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About the Caesar Rodney Institute
The Caesar Rodney Institute (CRI) is a Delaware-based, nonprofit 501(c)(3) research organization. As a nonpartisan public policy think tank, CRI provides fact-based analysis in four key areas: education, energy and environmental policy, the economy and government spending, and health policy.

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Our mission is to educate and inform Delawareans-including citizens, legislators, and community leaders-on issues that affect quality of life and opportunity.

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