Florida's fine fiscally

While some politicians might say otherwise, Florida's fiscal health, at least in comparison to most other states, is strong, according to a new study.

The report is from the Mercatus Center at George Mason University, which probed cash solvency, long-term spending commitments and a state's debt, among other metrics. Florida ranked No. 6 nationwide, behind South Dakota, North Dakota, Wyoming, Nebraska and Alaska.

The report, for the first time, according to a statement, included “Puerto Rico to provide a benchmark of poor fiscal performance.” Other poor performers include high-tax stalwarts such as New Jersey, Illinois and Connecticut.

Data for Florida includes:

On a cash basis, it has between 6.53 and 7.52 times the cash needed to cover short-term liabilities;

Revenues exceed expenses by 12%, producing a surplus of $440 per capita;

Net assets are 11% of total assets and long-term liabilities are 34% of total assets;

Total debt is $27.16 billion. There's $162.54 billion in unfunded pension liabilities on a guaranteed-to-be-paid basis, the report shows, and other post-employment benefits add $15.22 billion in unfunded liabilities. In total, these three liabilities are equal to 24% of total state personal income.