STATE GOVERNMENT FINANCES
(Amounts are in thousands.  Per capita in dollars.)

                                                      Percent           Per
ALABAMA                                      1992 Distribution       capita

Population (thousands)                      4,089           -             -
Total Revenue                          10,536,166       100.0%     2,576.71
  General revenue                       8,910,315        84.6%     2,179.09
    Intergovernmental revenue           2,737,180        26.0%       669.40
    Taxes                               4,217,916        40.0%     1,031.53
      General sales                     1,115,516        10.6%       272.81
      Selective sales                   1,103,368        10.5%       269.84
      License taxes                       395,202         3.8%        96.65
      Individual income                 1,233,824        11.7%       301.74
      Corporation net income              164,779         1.6%        40.30
      Other taxes                         205,227         1.9%        50.19
    Current charges                     1,347,766        12.8%       329.61
    Miscellaneous general revenue         607,453         5.8%       148.56
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                   152,634         1.4%        37.33
  Insurance trust revenue               1,473,217        14.0%       360.29

Total Expenditure                       9,650,515       100.0%     2,360.12
  Intergovernmental expenditure         2,143,312        22.2%       524.17
  Direct expenditure                    7,507,203        77.8%     1,835.95
    Current operation                   5,564,374        57.7%     1,360.82
    Capital outlay                        664,748         6.9%       162.57
    Insurance benefits and repayments     724,852         7.5%       177.27
    Assistance and subsidies              273,050         2.8%        66.78
    Interest on debt                      280,179         2.9%        68.52
Exhibit:  Salaries and wages            2,097,747        21.7%       513.02

Total expenditure                       9,650,515       100.0%     2,360.12
  General expenditure                   8,788,293        91.1%     2,149.25
        Intergovernmental expenditure   2,143,312        22.2%       524.17
        Direct expenditure              6,644,981        68.9%     1,625.09
  General expenditure, by function:
      Education                         3,570,524        37.0%       873.20
      Public welfare                    1,853,436        19.2%       453.27
      Hospitals                           780,815         8.1%       190.96
      Health                              394,119         4.1%        96.39
      Highways                            694,874         7.2%       169.94
      Police protection                    77,789         0.8%        19.02
      Correction                          182,698         1.9%        44.68
      Natural resources                   151,432         1.6%        37.03
      Parks and recreation                  9,728         0.1%         2.38
      Governmental administration         274,088         2.8%        67.03
      Interest on general debt            280,179         2.9%        68.52
      Other and unallocable               518,611         5.4%       126.83
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure               137,370         1.4%        33.60
  Insurance trust expenditure             724,852         7.5%       177.27

Debt at end of fiscal year              4,128,724       100.0%     1,009.71

Cash and Security Holdings             14,594,322       100.0%     3,569.17