Iowa earns score of 82 out of 100 on financial transparency

Iowa received a transparency score 82 on a recent review of state governments’ annual financial reports, putting the state in a tie for 23rd best among all 50 states, according to the policy institute Truth in Accounting (TIA).

States can earn a maximum score of 100 points on the TIA ranking. The categories in the analysis are a clean (passing) independent auditor opinion (50 points), no confusing deferred items (10 points), inclusion of retirement liabilities (10 points), timely publication within 100 days of a fiscal year’s end (10 points), online accessibility (five points), navigable links (five points), use of external auditor (five points) and pension data timing (five points).

On average, state transparency scores increased six points over the previous fiscal year due to requirements on including worker retirement liabilities, the TIA analysis found. The study used fiscal-year 2018 data, which was the latest year available.

States’ Financial Transparency Scores, From Best to Worst

RankStateAuditor OpinionDeferred ItemsOff-Balance Sheet LiabilitiesTimelinessAccessibilityNavigation External AuditorsPension Data TimingTotal Transparency Score1Idaho5091083422881North Dakota5091082522881Nevada5081063452884Utah5071084521874Virginia5091084402874West Virginia5051084352874Wyoming509883351878Indiana5091083222868Maine5071083422868South Carolina5086104152868Tennessee5091083402868Oregon5091082322868Washington5098834228614Georgia50710635228514Maryland50310822558514Pennsylvania5077835508514South Dakota50810643228518Massachusetts50410634528418Arizona50810444228418Hawaii50510831528421Delaware50410831528321New York5095822528323Iowa50810822028223Kansas5094831528223Mississippi50810244228223New Hampshire50410641528223Oklahoma5085825228223Rhode Island50710634028229Alabama5077625228129Colorado50510823218131Louisiana50710621228031Texas5049645028033Minnesota50010845027933Montana5089811027935Florida50810413027835Wisconsin5056844017837Kentucky50110822227737Arkansas50710611027739Ohio5068811207640Michigan5084632027541California50310023227241Illinois50010044227243New Jersey50010034227144Missouri35710644227045Alaska35910434226946New Mexico35710211526347Nebraska35510621026148Vermont25510841325849North Carolina25310844025650Connecticut251106330250

Source: Truth in Accounting

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