(The Center Square) – Wisconsin is ranked 36th in a new report on financial transparency.
The Truth in Accounting Financial Transparency score looks at how each state discloses its true financial condition in audited reports. Wisconsin received a score of 67 out of 100.
The report graded states on audit quality, timeliness, pension reporting and accounting practices that can distort a government’s financial position.
Wisconsin received the lowest score on its reporting of its net position as one of 13 states that overstated the liability side of their balance sheet.
The state also received zero points for its timeliness and just one point for the timing of pension data.
“Timely financial information is crucial during government decision-making, such as budgeting,” the report said. “However, most states filed their 2024 annual financial reports after completing their budget process.”
States were also marked down for not reporting retirement debt related to teacher pension liabilities.
