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

                                                      Percent           Per
NEW JERSEY                                   1992 Distribution       capita

Population (thousands)                      7,760           -             -
Total Revenue                          28,921,792       100.0%     3,727.04
  General revenue                      23,400,274        80.9%     3,015.50
    Intergovernmental revenue           5,337,844        18.5%       687.87
    Taxes                              12,802,662        44.3%     1,649.83
      General sales                     4,049,282        14.0%       521.81
      Selective sales                   2,958,268        10.2%       381.22
      License taxes                       573,085         2.0%        73.85
      Individual income                 4,101,895        14.2%       528.59
      Corporation net income              845,823         2.9%       109.00
      Other taxes                         274,309         0.9%        35.35
    Current charges                     2,105,826         7.3%       271.37
    Miscellaneous general revenue       3,153,942        10.9%       406.44
  Utility revenue                         365,792         1.3%        47.14
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               5,155,726        17.8%       664.40

Total Expenditure                      29,316,217       100.0%     3,777.86
  Intergovernmental expenditure         7,859,234        26.8%     1,012.79
  Direct expenditure                   21,456,983        73.2%     2,765.08
    Current operation                  13,496,190        46.0%     1,739.20
    Capital outlay                      2,160,051         7.4%       278.36
    Insurance benefits and repayments   4,195,847        14.3%       540.70
    Assistance and subsidies              210,140         0.7%        27.08
    Interest on debt                    1,394,755         4.8%       179.74
Exhibit:  Salaries and wages            4,285,141        14.6%       552.21

Total expenditure                      29,316,217       100.0%     3,777.86
  General expenditure                  24,109,399        82.2%     3,106.88
        Intergovernmental expenditure   7,859,234        26.8%     1,012.79
        Direct expenditure             16,250,165        55.4%     2,094.09
  General expenditure, by function:
      Education                         7,017,892        23.9%       904.37
      Public welfare                    6,050,389        20.6%       779.69
      Hospitals                           921,095         3.1%       118.70
      Health                              474,848         1.6%        61.19
      Highways                          1,835,212         6.3%       236.50
      Police protection                   233,751         0.8%        30.12
      Correction                          659,074         2.2%        84.93
      Natural resources                   224,852         0.8%        28.98
      Parks and recreation                234,075         0.8%        30.16
      Governmental administration         726,786         2.5%        93.66
      Interest on general debt          1,385,961         4.7%       178.60
      Other and unallocable             4,347,376        14.8%       560.23
  Utility expenditure                   1,010,971         3.4%       130.28
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           4,195,847        14.3%       540.70

Debt at end of fiscal year             19,786,201       100.0%     2,549.77

Cash and Security Holdings             44,421,052       100.0%     5,724.36