What the state
owns and owes.
Government-wide statement of net position, June 30, 2024. Against $46.29 billion of assets sit $12.93 billion of liabilities, leaving $34.08 billion. By state standards that is a strong balance sheet.
The two statements
Revenues of $33.29 billion exceeded expenses of$31.45 billion, producing a $1.84 billionsurplus and a 5.9% increase in the net position. A $500 million fall in gross-production tax, reflecting commodity price movement, was offset by growth in income tax, sales tax and federal grants. Federal grants totalled $14.49 billion, or 43.5% of all revenue.
Not all of it
can be spent.
Only the third of these is genuinely free. $13.4 billion is tied up in capital assets the state cannot sell — the roads it drives on.$9.2 billion is legally restricted to specific uses. That leaves$11.4 billion of real flexibility.
| Constitutional Rainy Day Fund | $1.33B |
|---|---|
| Revenue Stabilization Fund | $425M |
| Total state savings | $2.31B |
| Combined governmental fund balance | $18.4B |
$12.08 billion
of it is a choice.
The audited statements count every federal dollar and every fee. The appropriated budget is the part the legislature directly decides. In real terms per person it is about 11.8% below the FY2000 level.