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

                                                      Percent           Per
KENTUCKY                                     1993 Distribution       capita

Population (thousands)                      3,713           -             -
Total Revenue                          11,333,172       100.0%     3,052.30
  General revenue                       9,686,768        85.5%     2,608.88
    Intergovernmental revenue           2,828,192        25.0%       761.70
    Taxes                               5,331,520        47.0%     1,435.91
      General sales                     1,465,634        12.9%       394.73
      Selective sales                     929,220         8.2%       250.26
      License taxes                       318,919         2.8%        85.89
      Individual income                 1,733,415        15.3%       466.85
      Corporation net income              254,775         2.2%        68.62
      Other taxes                         629,557         5.6%       169.55
    Current charges                       878,983         7.8%       236.73
    Miscellaneous general revenue         648,073         5.7%       174.54
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               1,646,404        14.5%       443.42

Total Expenditure                      10,543,212       100.0%     2,839.54
  Intergovernmental expenditure         2,521,244        23.9%       679.03
  Direct expenditure                    8,021,968        76.1%     2,160.51
    Current operation                   5,282,924        50.1%     1,422.82
    Capital outlay                      1,040,068         9.9%       280.12
    Insurance benefits and repayments     987,203         9.4%       265.88
    Assistance and subsidies              298,234         2.8%        80.32
    Interest on debt                      413,539         3.9%       111.38
Exhibit:  Salaries and wages            2,023,402        19.2%       544.95

Total expenditure                      10,543,212       100.0%     2,839.54
  General expenditure                   9,550,437        90.6%     2,572.16
        Intergovernmental expenditure   2,521,244        23.9%       679.03
        Direct expenditure              7,029,193        66.7%     1,893.13
  General expenditure, by function:
      Education                         3,716,072        35.2%     1,000.83
      Public welfare                    2,564,736        24.3%       690.74
      Hospitals                           295,982         2.8%        79.72
      Health                              219,051         2.1%        59.00
      Highways                            932,924         8.8%       251.26
      Police protection                   103,603         1.0%        27.90
      Correction                          210,403         2.0%        56.67
      Natural resources                   261,915         2.5%        70.54
      Parks and recreation                 76,147         0.7%        20.51
      Governmental administration         360,651         3.4%        97.13
      Interest on general debt            413,539         3.9%       111.38
      Other and unallocable               395,414         3.8%       106.49
  Utility expenditure                       5,572         0.1%         1.50
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure             987,203         9.4%       265.88

Debt at end of fiscal year              6,820,146       100.0%     1,836.83

Cash and Security Holdings             14,531,834       100.0%     3,913.77