Ohio ranked no. 28 for fiscal health

A new report on the financial condition of the 50 states ranked Ohio no. 28 for its fiscal health in fiscal year 2023. The report found that 27 states did not have enough money to pay their bills at the end of fiscal year 2023 and Ohio's finances worsened.

The analysis by Truth in Accounting, a nonprofit government finance watchdog group, found Ohio needed $7.3 billion to pay its bills. This means that each Ohio taxpayer would have to pay $1,600 to get the state out of debt, which is why it received a “C” grade for its fiscal health.

Unfunded retirement obligations impaired the state’s ability to pay its bills regardless of market fluctuations. Inflation, market volatility, and other economic factors may further affect the state’s financial condition.