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

                                                      Percent           Per
KENTUCKY                                     1992 Distribution       capita

Population (thousands)                      3,713           -             -
Total Revenue                          10,639,750       100.0%     2,865.54
  General revenue                       9,221,972        86.7%     2,483.70
    Intergovernmental revenue           2,609,286        24.5%       702.74
    Taxes                               5,080,971        47.8%     1,368.43
      General sales                     1,366,872        12.8%       368.13
      Selective sales                     861,114         8.1%       231.92
      License taxes                       281,006         2.6%        75.68
      Individual income                 1,678,526        15.8%       452.07
      Corporation net income              271,027         2.5%        72.99
      Other taxes                         622,426         5.9%       167.63
    Current charges                       846,268         8.0%       227.92
    Miscellaneous general revenue         685,447         6.4%       184.61
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               1,417,778        13.3%       381.84

Total Expenditure                      10,154,199       100.0%     2,734.77
  Intergovernmental expenditure         2,392,289        23.6%       644.30
  Direct expenditure                    7,761,910        76.4%     2,090.47
    Current operation                   5,118,942        50.4%     1,378.65
    Capital outlay                        996,454         9.8%       268.37
    Insurance benefits and repayments     914,977         9.0%       246.43
    Assistance and subsidies              297,357         2.9%        80.09
    Interest on debt                      434,180         4.3%       116.94
Exhibit:  Salaries and wages            2,009,040        19.8%       541.08

Total expenditure                      10,154,199       100.0%     2,734.77
  General expenditure                   9,235,218        90.9%     2,487.27
        Intergovernmental expenditure   2,392,289        23.6%       644.30
        Direct expenditure              6,842,929        67.4%     1,842.96
  General expenditure, by function:
      Education                         3,572,415        35.2%       962.14
      Public welfare                    2,382,835        23.5%       641.75
      Hospitals                           290,631         2.9%        78.27
      Health                              203,176         2.0%        54.72
      Highways                            933,960         9.2%       251.54
      Police protection                   105,438         1.0%        28.40
      Correction                          209,874         2.1%        56.52
      Natural resources                   236,480         2.3%        63.69
      Parks and recreation                105,653         1.0%        28.45
      Governmental administration         343,955         3.4%        92.64
      Interest on general debt            434,180         4.3%       116.94
      Other and unallocable               416,621         4.1%       112.21
  Utility expenditure                       4,004         0.0%         1.08
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure             914,977         9.0%       246.43

Debt at end of fiscal year              6,618,526       100.0%     1,782.53

Cash and Security Holdings             13,710,190       100.0%     3,692.48