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

                                                      Percent           Per
MASSACHUSETTS                                1992 Distribution       capita

Population (thousands)                      5,996           -             -
Total Revenue                          20,455,525       100.0%     3,411.53
  General revenue                      18,234,258        89.1%     3,041.07
    Intergovernmental revenue           4,626,979        22.6%       771.68
    Taxes                               9,903,246        48.4%     1,651.64
      General sales                     1,978,654         9.7%       330.00
      Selective sales                   1,121,714         5.5%       187.08
      License taxes                       412,046         2.0%        68.72
      Individual income                 5,336,957        26.1%       890.09
      Corporation net income              756,781         3.7%       126.21
      Other taxes                         297,094         1.5%        49.55
    Current charges                     1,423,407         7.0%       237.39
    Miscellaneous general revenue       2,280,626        11.1%       380.36
  Utility revenue                          59,704         0.3%         9.96
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               2,161,563        10.6%       360.50

Total Expenditure                      20,367,654       100.0%     3,396.87
  Intergovernmental expenditure         4,047,945        19.9%       675.11
  Direct expenditure                   16,319,709        80.1%     2,721.77
    Current operation                   9,927,341        48.7%     1,655.66
    Capital outlay                      1,574,666         7.7%       262.62
    Insurance benefits and repayments   2,438,327        12.0%       406.66
    Assistance and subsidies              949,003         4.7%       158.27
    Interest on debt                    1,430,372         7.0%       238.55
Exhibit:  Salaries and wages            2,823,466        13.9%       470.89

Total expenditure                      20,367,654       100.0%     3,396.87
  General expenditure                  17,811,534        87.5%     2,970.57
        Intergovernmental expenditure   4,047,945        19.9%       675.11
        Direct expenditure             13,763,589        67.6%     2,295.46
  General expenditure, by function:
      Education                         3,271,297        16.1%       545.58
      Public welfare                    5,302,997        26.0%       884.42
      Hospitals                           781,637         3.8%       130.36
      Health                              792,392         3.9%       132.15
      Highways                          1,020,836         5.0%       170.25
      Police protection                   131,252         0.6%        21.89
      Correction                          645,378         3.2%       107.63
      Natural resources                   123,079         0.6%        20.53
      Parks and recreation                 72,214         0.4%        12.04
      Governmental administration         825,101         4.1%       137.61
      Interest on general debt          1,420,544         7.0%       236.92
      Other and unallocable             3,424,807        16.8%       571.18
  Utility expenditure                     117,793         0.6%        19.65
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           2,438,327        12.0%       406.66

Debt at end of fiscal year             24,008,036       100.0%     4,004.01

Cash and Security Holdings             22,295,463       100.0%     3,718.39