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West Virginia Gets A "D" For Its State Finances | Across West Virginia, WV Patch
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href="mailto:?subject=West%20Virginia%20Gets%20A%20%22D%22%20For%20Its%20State%20Finances&body=Each%20West%20Virginia%20taxpayer%20is%20on%20the%20hook%20for%20%246%2C300%0D%0A%0D%0Ahttps://patch.com/west-virginia/across-wv/west-virginia-gets-d-its-state-finances-0%3Futm_source%3Dshared-email%26utm_medium%3Demail%26utm_campaign%3Dshare" class="styles_SocialShare__Action__r4Xic styles_SocialShare__Action--email__graN_"><i class="fa fa-envelope styles_SocialShare__Icon__dJazc"></i></a></div><article class="styles_Section__card__4Uoov"><div class="styles_CardDetail__Header__GQxrS"><h6><a href="/west-virginia/across-wv/politics" class="Label_CardDetail__topicLabel__Pdhoj Link_Link__pj9SR">Politics & Government</a></h6><h1 class="Title_CardDetail__Title__gl_p8">West Virginia Gets A "D" For Its State Finances</h1><h2 class="styles_CardDetail__Description__KnSxe">Each West Virginia taxpayer is on the hook for $6,300</h2><div class="styles_BylineSection__GMjy9"><div class="styles_BylineSummary__AvatarContainer__X63OE"><div class="styles_BylineSummary__Avatar__LGydx" style="z-index:10"><img alt="Truth in Accounting's profile picture" class="avatar-img avatar-img--base is-lazy-loaded" src="data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mP8/x8AAwMCAO+ip1sAAAAASUVORK5CYII="/><noscript><img alt="Truth in Accounting's profile picture" class="avatar-img avatar-img--base" src="https://patch.com/img/cdn20/users/22889725/profile_pics/tia-updated-logo-white-text___08095239491.png?width=64"/></noscript></div></div><h6 class="styles_BylineSection__bylines__C2clA"><div class="styles_BylineSummary__1Gl_U"><a href="/users/katherine-oxenreiter" class="styles_BylineSummary__Link__5UiLW"><strong>Truth in Accounting</strong>, </a><span>News Partner</span></div></h6></div><div class="styles_Dateline__Yahhb"><time dateTime="2020-09-22T09:00:00Z">Posted <!-- -->Tue, Sep 22, 2020 at 5:00 am ET</time><span class="styles_Dateline__divider--hide-on-mobile__v2byZ"><span class="styles_Card__LabelDivider__wRVKo">|</span></span><time dateTime="2020-09-22T10:00:38Z">Updated <!-- -->Tue, Sep 22, 2020 at 6:00 am ET</time></div><div class="Row_CardDetail__Row__BYg88"></div></div><div class="styles_FeaturedMedia__rAu_E"><figure><style data-emotion="css 79elbk">.css-79elbk{position:relative;}</style><div class="MuiBox-root css-79elbk"><img class="styles_CardDetail__FeaturedImage__MlywD" src="https://patch.com/img/cdn20/users/22889725/20200921/032109/styles/patch_image/public/west-virginia-89815-1920___21151944957.jpg" srcSet="https://patch.com/img/cdn20/users/22889725/20200921/032109/styles/patch_image/public/west-virginia-89815-1920___21151944957.jpg?width=640 640w, https://patch.com/img/cdn20/users/22889725/20200921/032109/styles/patch_image/public/west-virginia-89815-1920___21151944957.jpg?width=1200 1200w" sizes="(min-width: 780px) 726px, 100vw" width="700" height="525"/></div><figcaption class="styles_CardDetail__FeaturedImageCaption__Ym_J8">(David Mark)</figcaption></figure></div><div class="styles_HTMLContent__LDG2k"><p>A new report on the financial condition of the 50 states ranked West Virginia no. 29 in the nation for its fiscal health prior to the coronavirus pandemic. The report found that the majority of the states were ill-prepared for any crisis, much less one as serious as what we are currently facing.</p></div><div class="js-ad ContentBlocks_CardDetail__AdBlock__GpVT1"><div id="client_ad_dfp_mobile_slot_1" class="ad ad--styled-margin ad--preview ad--mobile"></div></div><div class="styles_HTMLContent__LDG2k"><p>The analysis by <a href="https://www.truthinaccounting.org/" rel="nofollow" target="_blank">Truth in Accounting</a>, a non-profit government finance watchdog group, found West Virginia needed $3.3 billion to get out of the red, or $6,300 from each of its taxpayers. </p> <p>According to the watchdog's eleventh annual Financial State of the States report, West Virginia had $13 billion in bills and only $9.8 billion in available assets to pay those bills after capital and restricted assets are excluded. This resulted in a $3.3 billion shortfall, or a $6,300 Taxpayer Burden, which is each taxpayer's share of the state debt after the state’s available assets have been tapped. TIA's Taxpayer Burden indicator incorporates both assets and liabilities, including unfunded retirement obligations. </p></div><div class="ContentBlocks_CardDetail__SubscribeBlock__4zBcQ ContentBlocks_CardDetail__SubscribeBlock--mobile__18tT_"><section class="styles_SubscribeForm__0dj5n"><h2 class="styles_SubscribeForm__title__F_olP">Find out what's happening in Across West Virginia<span class="styles_SubscribeForm__title--nextLine__FTO3K">with free, real-time updates from Patch.</span></h2><div class="styles_SubscribeForm__body__3Usxf"><form class="styles_Card__Form__XLoCT"><div class="styles_Card__FormInner__EMDdU"><input type="email" value="" class="styles_SubscribeForm__input__3JKNM" aria-label="Enter your email address" autoComplete="email" placeholder="Your email address" required=""/><button class="styles_SubscribeForm__submit__Tl0Kv" type="submit">Subscribe<i class="fa fa-spinner icon icon--space-left spin styles_SubscribeForm__spinner__1dpYf"></i></button></div></form></div></section></div><div class="js-ad ContentBlocks_CardDetail__AdBlock__GpVT1 ContentBlocks_CardDetail__AdBlock--native__M_lBb ContentBlocks_CardDetail__AdBlock--desktop__70SV6"><div id="artcl_1" class="ad ad--native ad--styled-margin"></div></div><div class="styles_HTMLContent__LDG2k"><p>West Virginia was not alone in being ill-prepared for a crisis. Total debt among the 50 states amounted to $1.4 trillion at the end of the fiscal year 2019, which will only worsen as the states face varying and unpredictable effects from the global pandemic. </p> <p>The bottom line is that West Virginia did not have enough money to pay its bills, which is why it received a "D" grade for its fiscal health.</p></div><div class="js-ad ContentBlocks_CardDetail__AdBlock__GpVT1"><div id="client_ad_dfp_mobile_slot_2" class="ad ad--styled-margin ad--preview ad--mobile"></div></div><div class="ContentBlocks_CardDetail__SubscribeBlock__4zBcQ ContentBlocks_CardDetail__SubscribeBlock--desktop__oN6vv"><section class="styles_SubscribeForm__0dj5n"><h2 class="styles_SubscribeForm__title__F_olP">Find out what's happening in Across West Virginia<span class="styles_SubscribeForm__title--nextLine__FTO3K">with free, real-time updates from Patch.</span></h2><div class="styles_SubscribeForm__body__3Usxf"><form class="styles_Card__Form__XLoCT"><div class="styles_Card__FormInner__EMDdU"><input type="email" value="" class="styles_SubscribeForm__input__3JKNM" aria-label="Enter your email address" autoComplete="email" placeholder="Your email address" required=""/><button class="styles_SubscribeForm__submit__Tl0Kv" type="submit">Subscribe<i class="fa fa-spinner icon icon--space-left spin styles_SubscribeForm__spinner__1dpYf"></i></button></div></form></div></section></div><div class="styles_HTMLContent__LDG2k"><p>You can read the full report<a href="https://www.truthinaccounting.org/news/detail/financial-state-of-the-states-2020" rel="nofollow" target="_blank"> here</a> and West Virginia’s individual report <a href="https://www.data-z.org/state_data_and_comparisons/detail/west-virginia" rel="nofollow" target="_blank">here</a>.</p></div><div class="styles_CardDetail__Footer__6KH1g"><div class="styles_ActionBar__X7IpK"><div class="styles_ActionBar__BarLeft__tNiSc"><button aria-label="thank" class="Button_ActionBar__Button__bPA9K Button_ActionBar__Button--thank__1uapr" type="button"><span class="Button_ActionBar__Icon__QkOaK "><i class="fa fa-heart-fal"></i></span><span class="Button_ActionBar__Label__INNWl">Thank</span></button><div class="styles_ShareDropdown__TzLvU"><button id="article_card_detail:28975109__share-toggle" class="Button_ActionBar__Button__bPA9K Button_ActionBar__Button--share__kqabD"><span class="Button_ActionBar__Icon__QkOaK"><i class="fa fa-share-all-light"></i></span><span class="Button_ActionBar__Label__INNWl" aria-label="New! 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} function loadUnsupportedFeatures(){var t=[];if([{feat:"IntersectionObserver",condition:function(){return!("IntersectionObserver"in window)}},{feat:"ResizeObserver",condition:function(){return!("ResizeObserver"in window)}},{feat:"NodeList.prototype.forEach",condition:function(){return!NodeList.prototype.forEach}},{feat:"String.prototype.repeat",condition:function(){return!String.prototype.repeat}}].forEach(function(e){e.condition()&&t.push(e.feat)}),!!window.MSInputMethodContext&&!!document.documentMode){var e=document.createElement("script");e.src="https://patch.com/img/cdn/assets/scripts/tz-ny-polyfill.min.js",document.head.appendChild(e)}if(t.length){var n=document.createElement("script");n.src="https://polyfill.io/v3/polyfill.min.js?features="+t.join("%2C"),document.head.appendChild(n)}}loadUnsupportedFeatures();</script><script id="__NEXT_DATA__" 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Virginia","alias":"/west-virginia/across-wv","abbreviation":"WV"},"type":"state"},"shortTitle":"West Virginia Gets A \"D\" For Its State Finances","contentSource":"patch_user","evergreen":false,"originalContent":false,"canonicalUrl":"/west-virginia/across-wv/west-virginia-gets-d-its-state-finances-0","replyCount":0,"totalReplies":0,"repliesEnabled":true,"tags":[],"additionalBylines":[],"titleEmail":"West Virginia Gets A \"D\" For Its State Finances","titleSocial":"West Virginia Gets A \"D\" For Its State Finances","images":[{"url":"https://patch.com/img/cdn20/users/22889725/20200921/032109/styles/patch_image/public/west-virginia-89815-1920___21151944957.jpg","credit":"David Mark"}],"imageThumbnail":"https://patch.com/img/cdn20/users/22889725/20200921/032109/styles/patch_image/public/west-virginia-89815-1920___21151944957.jpg","contentKeywords":[],"contentIABCategories":[],"type":"article","flags":{"thankCount":0,"spamCount":0,"offensiveCount":0,"notLocalCount":0,"disagreeCount":0,"promotionalCount":0,"unverifiedCount":0},"itemAlias":"/west-virginia/across-wv/west-virginia-gets-d-its-state-finances-0","topic":{"id":3016,"name":"Politics \u0026 Government","alias":"/west-virginia/across-wv/politics"},"category":"news","ampAlias":"/west-virginia/across-wv/amp/28975109/west-virginia-gets-a-d-for-its-state-finances","isShared":false,"relCanonicalUrl":"/west-virginia/across-wv/west-virginia-gets-d-its-state-finances-0","shouldRenderAmpLink":false,"indexArticle":true,"enableAds":true,"preHeader":"A new report on the financial condition of the 50 states ranked West Virginia no. 29 in the nation for its fiscal health prior to the coronavirus pandemic. The report found that the majority of the st","statusFlags":{"isSpecialPin":false,"isTopStories":false,"isMostRecent":true,"isBreakingNews":false,"isExternal":false,"isDailyDigest":false,"isRobot":false,"isPressRelease":false,"isSponsoredContent":false,"isStaffContent":false,"isNewsPartnerContent":true,"isNeighborContent":false},"body":"\u003cp\u003eA new report on the financial condition of the 50 states ranked West Virginia no. 29 in the nation for its fiscal health prior to the coronavirus pandemic. The report found that the majority of the states were ill-prepared for any crisis, much less one as serious as what we are currently facing.\u003c/p\u003e \u003cp\u003eThe analysis by \u003ca href=\"https://www.truthinaccounting.org/\" rel=\"nofollow\" target=\"_blank\"\u003eTruth in Accounting\u003c/a\u003e, a non-profit government finance watchdog group, found West Virginia needed $3.3 billion to get out of the red, or $6,300 from each of its taxpayers. \u003c/p\u003e \u003cp\u003eAccording to the watchdog's eleventh annual Financial State of the States report, West Virginia had $13 billion in bills and only $9.8 billion in available assets to pay those bills after capital and restricted assets are excluded. This resulted in a $3.3 billion shortfall, or a $6,300 Taxpayer Burden, which is each taxpayer's share of the state debt after the state's available assets have been tapped. TIA's Taxpayer Burden indicator incorporates both assets and liabilities, including unfunded retirement obligations. \u003c/p\u003e \u003cp\u003eWest Virginia was not alone in being ill-prepared for a crisis. Total debt among the 50 states amounted to $1.4 trillion at the end of the fiscal year 2019, which will only worsen as the states face varying and unpredictable effects from the global pandemic. \u003c/p\u003e \u003cp\u003eThe bottom line is that West Virginia did not have enough money to pay its bills, which is why it received a \"D\" grade for its fiscal health.\u003c/p\u003e \u003cp\u003eYou can read the full report\u003ca href=\"https://www.truthinaccounting.org/news/detail/financial-state-of-the-states-2020\" rel=\"nofollow\" target=\"_blank\"\u003e here\u003c/a\u003e and West Virginia's individual report \u003ca href=\"https://www.data-z.org/state_data_and_comparisons/detail/west-virginia\" rel=\"nofollow\" target=\"_blank\"\u003ehere\u003c/a\u003e.\u003c/p\u003e","contentBlocks":[{"content":"\u003cp\u003eA new report on the financial condition of the 50 states ranked West Virginia no. 29 in the nation for its fiscal health prior to the coronavirus pandemic. The report found that the majority of the states were ill-prepared for any crisis, much less one as serious as what we are currently facing.\u003c/p\u003e","key":"html:0","type":"html"},{"content":"client_ad_dfp_mobile_slot_1","key":"advertisement:client_ad_dfp_mobile_slot_1","type":"advertisement"},{"content":"\u003cp\u003eThe analysis by \u003ca href=\"https://www.truthinaccounting.org/\" rel=\"nofollow\" target=\"_blank\"\u003eTruth in Accounting\u003c/a\u003e, a non-profit government finance watchdog group, found West Virginia needed $3.3 billion to get out of the red, or $6,300 from each of its taxpayers. \u003c/p\u003e \u003cp\u003eAccording to the watchdog's eleventh annual Financial State of the States report, West Virginia had $13 billion in bills and only $9.8 billion in available assets to pay those bills after capital and restricted assets are excluded. This resulted in a $3.3 billion shortfall, or a $6,300 Taxpayer Burden, which is each taxpayer's share of the state debt after the state’s available assets have been tapped. TIA's Taxpayer Burden indicator incorporates both assets and liabilities, including unfunded retirement obligations. \u003c/p\u003e","key":"html:2","type":"html"},{"device":"mobile","key":"subscribe:mobile","type":"subscribe"},{"content":"artcl_1","key":"advertisement:artcl_1","type":"advertisement"},{"content":"\u003cp\u003eWest Virginia was not alone in being ill-prepared for a crisis. Total debt among the 50 states amounted to $1.4 trillion at the end of the fiscal year 2019, which will only worsen as the states face varying and unpredictable effects from the global pandemic. \u003c/p\u003e \u003cp\u003eThe bottom line is that West Virginia did not have enough money to pay its bills, which is why it received a \"D\" grade for its fiscal health.\u003c/p\u003e","key":"html:5","type":"html"},{"content":"client_ad_dfp_mobile_slot_2","key":"advertisement:client_ad_dfp_mobile_slot_2","type":"advertisement"},{"device":"desktop","key":"subscribe:desktop","type":"subscribe"},{"content":"\u003cp\u003eYou can read the full report\u003ca href=\"https://www.truthinaccounting.org/news/detail/financial-state-of-the-states-2020\" rel=\"nofollow\" target=\"_blank\"\u003e here\u003c/a\u003e and West Virginia’s individual report \u003ca href=\"https://www.data-z.org/state_data_and_comparisons/detail/west-virginia\" rel=\"nofollow\" target=\"_blank\"\u003ehere\u003c/a\u003e.\u003c/p\u003e","key":"html:8","type":"html"}],"video":null}},"metadata":{"shouldIndex":true,"latestArticles":[],"isNewArticleCookieExp":false,"authorExtended":null},"pageMetadata":{"adtech":{"adConfig":{"adRequestTimeout":2000,"amazon":{"clientId":3267,"timeout":1000},"analytics":{"sampling":0.2},"dfp":{"collapseEmptyDivs":true,"disableInitialLoad":true,"enableSingleRequest":true},"prebid":{"adder":0,"multiplier":1,"timeout":800}},"allAdUnits":{"client_ad_dfp_lb":{"bidId":"lb_id","bids":[{"bidder":"criteo","params":{"networkId":"4956"}},{"bidder":"ix","params":{"siteId":"296928","size":[728,90]}},{"bidder":"ix","params":{"siteId":"296928","size":[970,250]}},{"bidder":"ix","params":{"siteId":"296928","size":[970,90]}},{"bidder":"medianet","params":{"cid":"8CU182P5I","crid":"348952330"}},{"bidder":"pubmatic","params":{"adSlot":"Desktop_Leaderboard@728x90","publisherId":"157338"}},{"bidder":"rubicon","params":{"accountId":"12538","position":"atf","siteId":"242960","sizes":[57],"zoneId":"1200896"}},{"bidder":"triplelift","params":{"inventoryCode":"patch_desktop_leaderboard_header"}}],"code":"client_ad_dfp_lb","mediaTypes":{"banner":{"sizes":[[728,90],[970,250],[970,90]]}},"slotTarget":"bb","targetDevice":"desktop"},"client_ad_dfp_mobile_lb":{"bidId":"mobile_lb_id","bids":[{"bidder":"criteo","params":{"networkId":"4956"}},{"bidder":"ix","params":{"siteId":"296933","size":[1,1]}},{"bidder":"ix","params":{"siteId":"296933","size":[300,50]}},{"bidder":"ix","params":{"siteId":"296933","size":[320,50]}},{"bidder":"medianet","params":{"cid":"8CU182P5I","crid":"473866137"}},{"bidder":"pubmatic","params":{"adSlot":"Mobile_Adhesion@320x50","publisherId":"157338"}},{"bidder":"rubicon","params":{"accountId":"12538","position":"atf","siteId":"242962","sizes":[43],"zoneId":"1200916"}},{"bidder":"triplelift","params":{"inventoryCode":"patch_320x50_HDX"}}],"code":"client_ad_dfp_mobile_lb","mediaTypes":{"banner":{"sizes":[[1,1],[300,50],[320,50]]}},"slotTarget":"mbb","targetDevice":"mobile"},"client_ad_dfp_slot_1":{"bidId":"slot1_id","bids":[{"bidder":"criteo","params":{"networkId":"4956"}},{"bidder":"ix","params":{"siteId":"296929","size":[300,250]}},{"bidder":"ix","params":{"siteId":"296929","size":[300,600]}},{"bidder":"ix","params":{"siteId":"296929","size":[300,1050]}},{"bidder":"ix","params":{"siteId":"296929","size":[160,600]}},{"bidder":"medianet","params":{"cid":"8CU182P5I","crid":"337469198"}},{"bidder":"pubmatic","params":{"adSlot":"Desktop_Slot_1@300x250","publisherId":"157338"}},{"bidder":"rubicon","params":{"accountId":"12538","position":"atf","siteId":"242960","sizes":[10],"zoneId":"1200898"}},{"bidder":"triplelift","params":{"inventoryCode":"patch_desktop_300x600_header_1"}}],"code":"client_ad_dfp_slot_1","mediaTypes":{"banner":{"sizes":[[300,250],[300,600],[300,1050],[160,600]]}},"slotTarget":"1","targetDevice":"desktop"},"client_ad_dfp_slot_2":{"bidId":"slot2_id","bids":[{"bidder":"criteo","params":{"networkId":"4956"}},{"bidder":"ix","params":{"siteId":"296930","size":[300,250]}},{"bidder":"ix","params":{"siteId":"296930","size":[300,600]}},{"bidder":"ix","params":{"siteId":"296930","size":[160,600]}},{"bidder":"medianet","params":{"cid":"8CU182P5I","crid":"356232838"}},{"bidder":"pubmatic","params":{"adSlot":"Desktop_Slot_2@300x250","publisherId":"157338"}},{"bidder":"rubicon","params":{"accountId":"12538","position":"btf","siteId":"242960","sizes":[10],"zoneId":"1200900"}},{"bidder":"triplelift","params":{"inventoryCode":"patch_desktop_300x600_header_2"}}],"code":"client_ad_dfp_slot_2","mediaTypes":{"banner":{"sizes":[[300,250],[300,600],[160,600]]}},"slotTarget":"2","targetDevice":"desktop"},"client_ad_dfp_slot_3":{"bidId":"slot3_id","bids":[{"bidder":"criteo","params":{"networkId":"4956"}},{"bidder":"ix","params":{"siteId":"296931","size":[300,250]}},{"bidder":"ix","params":{"siteId":"296931","size":[300,600]}},{"bidder":"ix","params":{"siteId":"296931","size":[160,600]}},{"bidder":"medianet","params":{"cid":"8CU182P5I","crid":"194478851"}},{"bidder":"pubmatic","params":{"adSlot":"Desktop_Slot_3@300x250","publisherId":"157338"}},{"bidder":"rubicon","params":{"accountId":"12538","position":"btf","siteId":"242960","sizes":[10],"zoneId":"1200902"}},{"bidder":"triplelift","params":{"inventoryCode":"patch_desktop_300x600_header_3"}}],"code":"client_ad_dfp_slot_3","mediaTypes":{"banner":{"sizes":[[300,250],[300,600],[160,600]]}},"slotTarget":"3","targetDevice":"desktop"},"client_ad_dfp_slot_4":{"bidId":"slot4_id","bids":[{"bidder":"criteo","params":{"networkId":"4956"}},{"bidder":"ix","params":{"siteId":"296932","size":[300,250]}},{"bidder":"ix","params":{"siteId":"296932","size":[300,600]}},{"bidder":"ix","params":{"siteId":"296932","size":[160,600]}},{"bidder":"medianet","params":{"cid":"8CU182P5I","crid":"231827252"}},{"bidder":"pubmatic","params":{"adSlot":"Desktop_Slot_4@300x250","publisherId":"157338"}},{"bidder":"rubicon","params":{"accountId":"12538","position"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