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

                                                      Percent           Per
MICHIGAN                                     1993 Distribution       capita

Population (thousands)                      9,368           -             -
Total Revenue                          28,448,915       100.0%     3,036.82
  General revenue                      24,327,143        85.5%     2,596.83
    Intergovernmental revenue           6,621,344        23.3%       706.80
    Taxes                              12,865,907        45.2%     1,373.39
      General sales                     3,467,303        12.2%       370.12
      Selective sales                   1,370,333         4.8%       146.28
      License taxes                       764,939         2.7%        81.65
      Individual income                 4,890,708        17.2%       522.07
      Corporation net income            1,843,420         6.5%       196.78
      Other taxes                         529,204         1.9%        56.49
    Current charges                     2,714,374         9.5%       289.75
    Miscellaneous general revenue       2,125,518         7.5%       226.89
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                   454,856         1.6%        48.55
  Insurance trust revenue               3,666,916        12.9%       391.43

Total Expenditure                      27,050,527       100.0%     2,887.55
  Intergovernmental expenditure         7,693,539        28.4%       821.26
  Direct expenditure                   19,356,988        71.6%     2,066.29
    Current operation                  12,769,892        47.2%     1,363.14
    Capital outlay                      1,186,649         4.4%       126.67
    Insurance benefits and repayments   3,318,592        12.3%       354.25
    Assistance and subsidies            1,431,157         5.3%       152.77
    Interest on debt                      650,698         2.4%        69.46
Exhibit:  Salaries and wages            4,523,488        16.7%       482.87

Total expenditure                      27,050,527       100.0%     2,887.55
  General expenditure                  23,357,795        86.3%     2,493.36
        Intergovernmental expenditure   7,693,539        28.4%       821.26
        Direct expenditure             15,664,256        57.9%     1,672.10
  General expenditure, by function:
      Education                         7,952,268        29.4%       848.88
      Public welfare                    6,197,064        22.9%       661.51
      Hospitals                         1,097,617         4.1%       117.17
      Health                            1,470,953         5.4%       157.02
      Highways                          1,635,383         6.0%       174.57
      Police protection                   201,056         0.7%        21.46
      Correction                          909,743         3.4%        97.11
      Natural resources                   341,293         1.3%        36.43
      Parks and recreation                 88,618         0.3%         9.46
      Governmental administration         650,137         2.4%        69.40
      Interest on general debt            650,698         2.4%        69.46
      Other and unallocable             2,167,941         8.0%       231.42
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure               374,140         1.4%        39.94
  Insurance trust expenditure           3,318,592        12.3%       354.25

Debt at end of fiscal year             11,007,877       100.0%     1,175.05

Cash and Security Holdings             33,032,886       100.0%     3,526.14