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

                                                      Percent           Per
MISSISSIPPI                                  1992 Distribution       capita

Population (thousands)                      2,592           -             -
Total Revenue                           6,177,389       100.0%     2,383.25
  General revenue                       5,289,771        85.6%     2,040.81
    Intergovernmental revenue           2,077,281        33.6%       801.42
    Taxes                               2,494,392        40.4%       962.34
      General sales                     1,182,356        19.1%       456.16
      Selective sales                     494,777         8.0%       190.89
      License taxes                       155,912         2.5%        60.15
      Individual income                   439,577         7.1%       169.59
      Corporation net income              146,308         2.4%        56.45
      Other taxes                          75,462         1.2%        29.11
    Current charges                       494,515         8.0%       190.79
    Miscellaneous general revenue         223,583         3.6%        86.26
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                   122,830         2.0%        47.39
  Insurance trust revenue                 764,788        12.4%       295.06

Total Expenditure                       5,762,085       100.0%     2,223.03
  Intergovernmental expenditure         1,765,089        30.6%       680.98
  Direct expenditure                    3,996,996        69.4%     1,542.05
    Current operation                   2,852,119        49.5%     1,100.35
    Capital outlay                        477,498         8.3%       184.22
    Insurance benefits and repayments     446,313         7.7%       172.19
    Assistance and subsidies              105,325         1.8%        40.63
    Interest on debt                      115,741         2.0%        44.65
Exhibit:  Salaries and wages              986,032        17.1%       380.41

Total expenditure                       5,762,085       100.0%     2,223.03
  General expenditure                   5,216,887        90.5%     2,012.69
        Intergovernmental expenditure   1,765,089        30.6%       680.98
        Direct expenditure              3,451,798        59.9%     1,331.71
  General expenditure, by function:
      Education                         1,993,166        34.6%       768.97
      Public welfare                    1,210,498        21.0%       467.01
      Hospitals                           241,776         4.2%        93.28
      Health                              153,976         2.7%        59.40
      Highways                            538,749         9.3%       207.85
      Police protection                    36,894         0.6%        14.23
      Correction                           87,310         1.5%        33.68
      Natural resources                   125,371         2.2%        48.37
      Parks and recreation                 23,769         0.4%         9.17
      Governmental administration         130,576         2.3%        50.38
      Interest on general debt            115,741         2.0%        44.65
      Other and unallocable               559,063         9.7%       215.69
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure                98,885         1.7%        38.15
  Insurance trust expenditure             446,313         7.7%       172.19

Debt at end of fiscal year              1,625,737       100.0%       627.21

Cash and Security Holdings              7,473,451       100.0%     2,883.28