A national study by a policy center at George Mason University ranks Maine 42nd on its overall fiscal health.

The study by senior research fellow Eileen Norcross at the Mercatus Center analyzed each state’s own audited financial reports. Financial statistics on revenues, expenditures, cash, assets, liabilities and debt, were ranked according to how easily each state could cover short-term and long-term bills, including pensions, according to a release from the university.

Fiscal solvency was based on five criteria: cash on hand to cover short-term bills; whether a state can cover spending with current revenues; whether a state can meet its long-term spending commitments; whether there’s enough slack in the budget to cover new services; and how much debt a state has.

Maine ranked poorly in cash solvency, coming in last in the nation. It ranked in the middle of the pack – 24th and 23rd, respectively – on ability to cover spending with current revenues, and debt. It ranked 36th in fiscal slack and 12th – its highest ranking – in its ability to meet long-term commitments.

The analysis was based on Maine’s 2013 comprehensive annual financial reports.

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