Fiscal Strength & Efficient GovernmentGovernor Haslam's Goal: To be the best managed state, providing high-quality services at the lowest possible price to taxpayers.
Tennessee has a proud tradition of being a fiscally conservative state, and Governor Haslam is working hard to ensure state government continues to be well managed with the lowest possible tax burden to residents. The Haslam administration is building off the state’s record of good fiscal management by simultaneously building reserves, cutting taxes, and eliminating waste and inefficiencies from state government. Governor Haslam believes taxpayers are the state’s customers, and he is striving to change the culture within state government and make Tennessee the best managed state in the country.
A grade given to a state government by a credit rating agency that expresses its opinion about a government's ability to meet its financial obligations in full and on time. Each of the three credit rating agencies (Moody's, Fitch, and Standard & Poor's) give letter designations to indicate a state government's credit worthiness.
Source: Annual Financial Report, FY 2014
State Debt per Capita reflects a state's total outstanding public debt at the end of the fiscal year, divided by state population. Tennessee State Debt per Capita ($924) is the lowest in the United States, and is approximately 1/4 of the national average ($3,566). The most recent data derives from the Census Bureau's 2014 publication of State and Local Government Finances.
The amount of money (as a percent of expenditures) that the government sets aside to deal with budget shortfalls in years where revenues do not match expenditures.
Source: National Association of State Budget Officers, FY 2014.
The total amount of taxes per capita based on population data from the 2012 census. This data includes state taxes only.
Source: Federation of Tax Administrators, 2015.