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Debt per MO Citizen
Year-Over-YearGrowth in Debt
FY 2020 vs. FY 2019
The State Treasurer's Office gathered the above data from the State's Comprehensive Annual Financial Reports (CAFRs). Data reported
in CAFRs is highly susceptible to changes in accounting standards between years which may create inconsistencies in the data over time. New standards from the Government Accounting Standards Board (GASB) came into effect for the FY 2015 CAFR, so only data reported for FY 2015 and later is used above. Revised data for FY 2014 was drawn from the FY 2015 CAFR. The State's debt is broken into short-term and long-term debt, with short-term being defined as debt to be paid off within a year and long-term as anything over a year. The state may have current resources to offset these liabilities. Though Missouri strives to maintain a balanced budget and does so within certain funds, debt accrues where the state incurs long-term obligations (such as pension costs) but does not set aside economic resources to pay off those liabilities.
While all of the information contained on this site is an open record in accordance with the Missouri Sunshine Law (Ch. 610, RSMo), there may be additional public records available regarding this data. Additional records can be obtained by making a Sunshine request to the appropriate records custodian(s) in the agency that possesses the documents in accordance with the law.
The State Treasurer's Office gathered the above data from the Comprehensive Annual Financial Reports (CAFRs) of public pension plans
in AAA-rated states with the exception of Tennessee. Tennessee was excluded due to significant differences in the timing of its plan's CAFR reporting, making comparisons to other plans difficult. Reporting in CAFRs is highly susceptible to changes in accounting standards by the Government Accounting Standards Board (GASB) between years, which may create inconsistencies in the data over time. Additionally, the data for a given plan is subject to significant fluctuation based on the actuarial methods and economic assumptions made by that plan's governing body. The market funding status is calculated by dividing the market (current) value of a pension plan's assets by its actuarially accrued liabilities (AAL). Unfunded actuarially accrued liabilities (UAAL) as a percent of annual payroll provides perspective on the size of a pension plan's UAAL. UAAL is calculated by subtracting the market value of a plan's assets from its AAL. Annual covered payroll is the dollar amount paid to active public employees enrolled in the plan in a year. Dividing the UAAL by the annual covered payroll gives the UAAL as a percentage of annual covered payroll.
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