North Dakota ranks No. 2 in the nation for fiscal health

A new report on the financial condition of all 50 states ranked North Dakota as the second best state in the country after Alaska.

The analysis by Truth in Accounting, a non-profit government finance watchdog group, found North Dakota has a $7.1 billion available to pay future bills. This surplus equates to $24,900 for each state taxpayer.

According to the watchdog’s annual Financial State of the States report, North Dakota has $7.4 billion in bills and roughly $14.5 billion in available assets to pay those bills after capital and restricted assets were excluded. This results in a $7.1 billion in excess and a $24,900 Taxpayer Surplus™, which is each taxpayer's share of state surplus after its available assets have been tapped. TIA's Taxpayer Surplus indicator incorporates both assets and liabilities, not just pension debt. North Dakota’s Taxpayer Surplus has increased by $18,500 since 2009, when taxpayers had a surplus of $6,400.

North Dakota’s change from a Taxpayer Surplus of $6,400 in 2010 to a Taxpayer Surplus of $24,900 in 2017 is largely due to a large increase in unrestricted assets. The state’s assets have increased by $11 billion while the state’s bills have decreased by over $700 million.

The bottom line is that North Dakota hypothetically could write a check for $24,900 to each of its taxpayers after paying all of its bills, which is why it received an "A" grade for its fiscal health.

You can read the full report here.