CHICAGO, IL - Truth in Accounting, a nonpartisan watchdog group, dedicated to analyzing government accounting data from each of the 50 states, has ranked Idaho one of the most financially transparent states in the U.S.
Idaho received a transparency score 88 on a recent review of state governments’ annual financial reports, tied for first place among all 50 states. Washington's score was 86.
The report, based on 2018 data - the most recent available, ranks states on a scale that tops out at a possible 100 points. A state’s comprehensive annual financial report must meet the following criteria:
- Receive a clean opinion from an independent auditor (50 points)
- Include a net position not distorted by misleading and confusing deferred items (10)
- Report all retirement liabilities on its balance sheet (statement of net position) (10)
- Be published within 100 days of the government’s fiscal year end (10)
- Be easily accessible online (5)
- Be searchable with useful links from the table of contents and bookmarks (5)
- Be audited by an independent auditor who is not an employee of the government (5)
- Measure the net pension liability using the same date as the CAFR (5)