by Mitch Kokai
Senior Political Analyst, John Locke Foundation
North Carolina ranks ninth among the 50 states in its fiscal condition, according to the Mercatus Center at George Mason University. Only Tennessee and Florida rank higher among the Southeastern states.
On the basis of its solvency in five separate categories, North Carolina ranks 9th among the US states for fiscal health. North Carolina has between 1.67 and 2.72 times the cash needed to cover short-term obligations. Revenues exceed expenses by 12 percent, with an improving net position of $530 per capita. In the long run, North Carolina has a net asset ratio of 0.08. Long-term liabilities are lower than the national average, at 14 percent of total assets, or $938 per capita. Total unfunded pension liabilities that are guaranteed to be paid are $131.56 billion, or 31 percent of state personal income. OPEB are $32.47 billion, or 8 percent of state personal income.