As of the fiscal year 2022, the state of Alabama's total governmental debt, encompassing both state and local government obligations, amounted to 42.66 billion U.S. dollars. This figure is derived from the sum of the state's direct debt and the significantly larger debt held by its local governments.
Breakdown of Alabama's Debt (Fiscal Year 2022)
Alabama's debt can be categorized into two primary components: state government debt and local government debt. The distinction is crucial as local governments often manage substantial debt related to infrastructure, education, and other community services.
- State Government Debt: In the fiscal year 2022, the direct debt of the state of Alabama itself totaled 9.81 billion U.S. dollars. This typically includes obligations incurred by state agencies for various state-level projects and operations.
- Local Government Debt: The debt held by local governments within Alabama, such as counties, municipalities, and special districts, was substantially higher, reaching 32.85 billion U.S. dollars in the same fiscal year. This larger portion reflects the significant financial responsibilities and borrowing needs at the local level.
To illustrate these figures more clearly, refer to the table below:
| Debt Type | Amount (in Billion U.S. Dollars) |
|---|---|
| State Government Debt | 9.81 |
| Local Government Debt | 32.85 |
| Total Debt | 42.66 |
This data provides a comprehensive overview of Alabama's financial obligations across both its central government and its numerous local entities for the specified period. Understanding these distinct components is key to comprehending the overall financial health and commitments within the state. For further details on U.S. state and local government debt, comprehensive financial data is typically compiled and available from reliable sources.
