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

                                                      Percent           Per
KENTUCKY                                     1994 Distribution       capita

Population (thousands)                      3,827           -             -
Total Revenue                          11,729,535       100.0%     3,064.94
  General revenue                      10,098,826        86.1%     2,638.84
    Intergovernmental revenue           2,860,061        24.4%       747.34
    Taxes                               5,692,730        48.5%     1,487.52
      General sales                     1,560,091        13.3%       407.65
      Selective sales                   1,160,436         9.9%       303.22
      License taxes                       323,517         2.8%        84.54
      Individual income                 1,729,182        14.7%       451.84
      Corporation net income              269,067         2.3%        70.31
      Other taxes                         650,437         5.5%       169.96
    Current charges                       940,636         8.0%       245.79
    Miscellaneous general revenue         605,399         5.2%       158.19
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               1,630,709        13.9%       426.11

Total Expenditure                      10,541,432       100.0%     2,754.49
  Intergovernmental expenditure         2,581,409        24.5%       674.53
  Direct expenditure                    7,960,023        75.5%     2,079.96
    Current operation                   5,401,576        51.2%     1,411.44
    Capital outlay                        903,458         8.6%       236.07
    Insurance benefits and repayments     977,798         9.3%       255.50
    Assistance and subsidies              307,530         2.9%        80.36
    Interest on debt                      369,661         3.5%        96.59
Exhibit:  Salaries and wages            2,022,107        19.2%       528.38

Total expenditure                      10,541,432       100.0%     2,754.49
  General expenditure                   9,558,836        90.7%     2,497.74
        Intergovernmental expenditure   2,581,409        24.5%       674.53
        Direct expenditure              6,977,427        66.2%     1,823.21
  General expenditure, by function:
      Education                         3,845,626        36.5%     1,004.87
      Public welfare                    2,517,724        23.9%       657.88
      Hospitals                           336,167         3.2%        87.84
      Health                              239,723         2.3%        62.64
      Highways                            867,033         8.2%       226.56
      Police protection                   104,819         1.0%        27.39
      Correction                          206,827         2.0%        54.04
      Natural resources                   238,043         2.3%        62.20
      Parks and recreation                 75,225         0.7%        19.66
      Governmental administration         371,093         3.5%        96.97
      Interest on general debt            369,661         3.5%        96.59
      Other and unallocable               386,895         3.7%       101.10
  Utility expenditure                       4,798         0.0%         1.25
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure             977,798         9.3%       255.50

Debt at end of fiscal year              6,743,654       100.0%     1,762.13

Cash and Security Holdings             15,680,154       100.0%     4,097.24