FILE - California State Capitol

Cherry tree blossoms over the California State Capitol Building in Sacramento

California would need $275 billion to pay all of its bills, including public employers’ pension benefits, according to a new ranking of the states’ fiscal health based on pre-pandemic data.

California ranked 43rd among the 50 states on fiscal health, according to the analysis by Truth in Accounting (TIA), which is a Chicago-based nonprofit that reports on fiscal data from state and local governments.

The amount of the state’s shortfall in funding to pay off its bills amounts to $21,100 per taxpayer, the study found.

The TIA gave the state a financial grade of “F.” The TIA analysis, which found that 39 states lacked the money to pay off all of their bills, used data from comprehensive annual financial reports from the fiscal year 2019.

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2020 State Rankings on Fiscal Health

RankStateTaxpayer Surplus / Taxpayer BurdenMoney Available / Needed to Pay Bills Grade
1Alaska$77,400$21 billionA
2North Dakota$37,700$10.7 billionA
3Wyoming$19,600$4 billionA
4Utah$5,500$5.4 billionB
5Tennessee$3,400$7.1 billionB
6South Dakota$3,300$1 billionB
7Nebraska$2,800$1.9 billionB
8Idaho$2,800$1.5 billionB
9Oregon$2,600$3.8 billionB
10Iowa$1,500$1.6 billionB
11Minnesota$100$115.5 millionB
12Oklahoma-$700-$764.3 millionC
13Virginia-$800-$2.5 billionC
14Indiana-$1,300-$2.9 billionC
15North Carolina-$1,400-$4.6 billionC
16Florida-$1,600-$11.3 billionC
17Arkansas-$1,700-$1.4 billionC
18Arizona-$1,700-$3.7 billionC
19Montana-$2,000-$738.2 millionC
20Colorado-$2,600-$5.4 billionC
21Nevada-$2,600-$2.7 billionC
22Georgia-$2,900-$8.8 billionC
23Wisconsin-$3,100-$6.7 billionC
24New Hampshire-$3,900-$2.2 billionC
25Missouri-$4,300-$8.4 billionC
26Ohio-$5,800-$23.8 billionD
27Washington-$6,100-$17.2 billionD
28Kansas-$6,200-$5.9 billionD
29West Virginia-$6,300-$3.3 billionD
30Maine-$6,700-$3.3 billionD
31New Mexico-$7,500-$4.5 billionD
32Alabama-$7,600-$10.3 billionD
33Mississippi-$10,400-$7.7 billionD
34Texas-$11,300-$96.7 billionD
35South Carolina-$13,400-$20.8 billionD
36Rhode Island-$14,700-$5.8 billionD
37Maryland-$15,200-$33.8 billionD
38Pennsylvania-$16,400-$73.8 billionD
39Michigan-$17,000-$56.6 billionD
40Louisiana-$17,100-$21.6 billionD
41New York-$17,200-$118.2 billionD
42Vermont-$18,900-$4.5 billionD
43California-$21,100-$275 billionF
44Kentucky-$24,700-$32.7 billionF
45Delaware-$24,900-$8.6 billionF
46Massachusetts-$30,100-$80.9 billionF
47Hawaii-$31,700-$16.1 billionF
48Connecticut-$50,700-$67.4 billionF
49Illinois-$52,000-$226 billionF
50New Jersey-$57,900-$189.6 billionF

Source: Truth in Accounting