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

                                                      Percent           Per
NEW JERSEY                                   1993 Distribution       capita

Population (thousands)                      7,760           -             -
Total Revenue                          29,610,785       100.0%     3,815.82
  General revenue                      23,812,593        80.4%     3,068.63
    Intergovernmental revenue           5,917,526        20.0%       762.57
    Taxes                              13,021,982        44.0%     1,678.09
      General sales                     3,651,123        12.3%       470.51
      Selective sales                   3,123,391        10.5%       402.50
      License taxes                       603,985         2.0%        77.83
      Individual income                 4,350,485        14.7%       560.63
      Corporation net income              946,641         3.2%       121.99
      Other taxes                         346,357         1.2%        44.63
    Current charges                     2,201,380         7.4%       283.68
    Miscellaneous general revenue       2,671,705         9.0%       344.29
  Utility revenue                         375,183         1.3%        48.35
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               5,423,009        18.3%       698.84

Total Expenditure                      28,922,752       100.0%     3,727.16
  Intergovernmental expenditure         8,099,029        28.0%     1,043.69
  Direct expenditure                   20,823,723        72.0%     2,683.47
    Current operation                  13,152,732        45.5%     1,694.94
    Capital outlay                      1,874,448         6.5%       241.55
    Insurance benefits and repayments   4,313,180        14.9%       555.82
    Assistance and subsidies              235,968         0.8%        30.41
    Interest on debt                    1,247,395         4.3%       160.75
Exhibit:  Salaries and wages            4,211,272        14.6%       542.69

Total expenditure                      28,922,752       100.0%     3,727.16
  General expenditure                  23,630,213        81.7%     3,045.13
        Intergovernmental expenditure   8,099,029        28.0%     1,043.69
        Direct expenditure             15,531,184        53.7%     2,001.44
  General expenditure, by function:
      Education                         7,116,917        24.6%       917.13
      Public welfare                    5,743,126        19.9%       740.09
      Hospitals                           935,136         3.2%       120.51
      Health                              521,286         1.8%        67.18
      Highways                          1,615,224         5.6%       208.15
      Police protection                   284,514         1.0%        36.66
      Correction                          678,673         2.3%        87.46
      Natural resources                   188,557         0.7%        24.30
      Parks and recreation                324,439         1.1%        41.81
      Governmental administration         713,428         2.5%        91.94
      Interest on general debt          1,238,011         4.3%       159.54
      Other and unallocable             4,273,262        14.8%       550.68
  Utility expenditure                     979,359         3.4%       126.21
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           4,313,180        14.9%       555.82

Debt at end of fiscal year             21,778,675       100.0%     2,806.53

Cash and Security Holdings             47,051,491       100.0%     6,063.34