Source: Truth in Accounting
Latest Data: 2022
Release Timing: Following Year
Frequency: Annual
Contact: Sheila Weinberg, 847-835-5200, sweinberg@truthinaccounting.org

This number is the amount of the government's outstanding bonds payable as found on the "Statement of Net Position" in each state's Annual Comprehensive Financial Report (ACFR). Information about bonds payable can also be found in the notes to the financial statements. Bonds are long-term debt instruments with set interest rates and maturities. Governments use bonds in order to raise funds, especially for capital improvement projects. A government can also use bonds to cover fiscal deficits.