Commentary
The big story with the fiscal disclosure of the nation’s 50 states is that some states take a long time to complete their annual audits and to post their annual comprehensive financial reports.
Illinois and Nevada have finally concluded their audit work in August for the fiscal year ending on June 30, 2023, and we can finally compare the nation’s states based on audited balance sheets, or statements of position.
The second big story is that California beat two other states, Illinois (the previous titleholder), and Nevada (the new titleholder), in providing their financial statements—the first time in years.
The third big story, as can be seen in the chart below, is that only 10 percent of the states moved three or more places. Nearly one in five, 18 percent, moved two places. While 40 percent moved only one place, and 32 percent stayed in their 2022 positions….