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

                                                      Percent           Per
COLORADO                                     1994 Distribution       capita

Population (thousands)                      3,656           -             -
Total Revenue                          10,425,288       100.0%     2,851.56
  General revenue                       8,034,742        77.1%     2,197.69
    Intergovernmental revenue           2,183,970        20.9%       597.37
    Taxes                               4,154,450        39.8%     1,136.34
      General sales                     1,125,265        10.8%       307.79
      Selective sales                     650,343         6.2%       177.88
      License taxes                       249,542         2.4%        68.26
      Individual income                 1,925,168        18.5%       526.58
      Corporation net income              146,042         1.4%        39.95
      Other taxes                          58,090         0.6%        15.89
    Current charges                       979,587         9.4%       267.94
    Miscellaneous general revenue         716,735         6.9%       196.04
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               2,390,546        22.9%       653.87

Total Expenditure                       8,902,738       100.0%     2,435.10
  Intergovernmental expenditure         2,553,610        28.7%       698.47
  Direct expenditure                    6,349,128        71.3%     1,736.63
    Current operation                   4,148,417        46.6%     1,134.69
    Capital outlay                        634,161         7.1%       173.46
    Insurance benefits and repayments   1,246,985        14.0%       341.08
    Assistance and subsidies               68,219         0.8%        18.66
    Interest on debt                      251,346         2.8%        68.75
Exhibit:  Salaries and wages            1,751,510        19.7%       479.08

Total expenditure                       8,902,738       100.0%     2,435.10
  General expenditure                   7,652,127        86.0%     2,093.03
        Intergovernmental expenditure   2,553,610        28.7%       698.47
        Direct expenditure              5,098,517        57.3%     1,394.56
  General expenditure, by function:
      Education                         3,357,760        37.7%       918.42
      Public welfare                    1,625,661        18.3%       444.66
      Hospitals                           159,124         1.8%        43.52
      Health                              232,482         2.6%        63.59
      Highways                            820,949         9.2%       224.55
      Police protection                    50,283         0.6%        13.75
      Correction                          289,364         3.3%        79.15
      Natural resources                   154,100         1.7%        42.15
      Parks and recreation                 32,111         0.4%         8.78
      Governmental administration         280,767         3.2%        76.80
      Interest on general debt            248,602         2.8%        68.00
      Other and unallocable               410,659         4.6%       112.32
  Utility expenditure                       3,626         0.0%         0.99
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           1,246,985        14.0%       341.08

Debt at end of fiscal year              3,262,891       100.0%       892.48

Cash and Security Holdings             19,471,058       100.0%     5,325.78