What's a SALN?

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When a politician is accused of corruption here in the country, one of the things that come into question is that public official's Statement of Assets, Liabilities, and Net Worth, or SALN.

So, what's a SALN?

Photo Credit: this website.

As the image illustrates; your SALN is that document that indicates everything that you own and owe. Calculating one against the other will help determine your Net Worth.

Generally, your Net Worth is the value of everything you have [ASSETS] minus the amount of everything you owe [LIABILITIES].

ASSETS - things you own - Under this you can list the following:
Cash and Liquid Assets Marketable Assets Long-Term Assets Personal Assets
Cash & Bank Accounts Mutual Funds Registered Retirement Savings Plan Personal Residence
Bonds, Term Deposits, and Investment Certificates Stocks Cash Value of Life Insurance Vehicles
Money owed to you Real Estate Investments Pension plans & Profit sharing Recreational Property
Others Business Interests Others(Offshore Accounts Household Furnishings/Equipment
Collectibles (Art, Jewelry, etc.)
LIABILITIES - what you owe - Under this you can list the following:
  • SHORT-TERM DEBT
    • Charge Accounts & Credit Cards
    • Line of Credit/Overdraft
    • Loans (Car Loans, Personal Loans)
    • Taxes ((roperty Tax)
    • Other(Charitable Pledges, Family Obligations)
  • LONG-TERM DEBT
    • Home Mortgage
    • Other Mortgage Loan
    • Others)
    Add up the value of all your Assets. Do the same thing with your Liabilities. Once you have the total amount of each, subtract the Total Amount of Liabilities from the Total Amount of Assets. If the value of your Assets is greater than your Liabilities, then you have a POSITIVE Net Worth. The reverse is true (NEGATIVE NET WORTH) if your Total Liabilities is greater than your Total Assets.

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