State Bonded Obligations, 2018

by Thurston Powers, Jonathan Williams & Joel Griffith


States issue a diverse array of bonded obligations, with a range of obligation strength, revenue sources, debt service schedules, and other factors. This study collects and analyzes the bonded obligations reported by each state in their respective Comprehensive Annual Financial Report. States and their component units issued $863 and $260 billion of bonds as of 2015, $1.1 trillion in
total. The differences between states offer important insights into the ways that states manage these obligations.