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

                                                      Percent           Per
MICHIGAN                                     1994 Distribution       capita

Population (thousands)                      9,496           -             -
Total Revenue                          31,814,257       100.0%     3,350.28
  General revenue                      27,049,926        85.0%     2,848.56
    Intergovernmental revenue           7,139,231        22.4%       751.81
    Taxes                              15,419,391        48.5%     1,623.78
      General sales                     4,538,124        14.3%       477.90
      Selective sales                   1,542,885         4.8%       162.48
      License taxes                       816,635         2.6%        86.00
      Individual income                 5,553,342        17.5%       584.81
      Corporation net income            2,174,644         6.8%       229.01
      Other taxes                         793,761         2.5%        83.59
    Current charges                     2,871,926         9.0%       302.44
    Miscellaneous general revenue       1,619,378         5.1%       170.53
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                   452,388         1.4%        47.64
  Insurance trust revenue               4,311,943        13.6%       454.08

Total Expenditure                      29,305,100       100.0%     3,086.05
  Intergovernmental expenditure         8,864,360        30.2%       933.48
  Direct expenditure                   20,440,740        69.8%     2,152.56
    Current operation                  13,842,941        47.2%     1,457.77
    Capital outlay                      1,523,926         5.2%       160.48
    Insurance benefits and repayments   3,084,993        10.5%       324.87
    Assistance and subsidies            1,369,068         4.7%       144.17
    Interest on debt                      619,812         2.1%        65.27
Exhibit:  Salaries and wages            4,693,825        16.0%       494.29

Total expenditure                      29,305,100       100.0%     3,086.05
  General expenditure                  25,862,008        88.3%     2,723.46
        Intergovernmental expenditure   8,864,360        30.2%       933.48
        Direct expenditure             16,997,648        58.0%     1,789.98
  General expenditure, by function:
      Education                         8,740,829        29.8%       920.47
      Public welfare                    6,863,499        23.4%       722.78
      Hospitals                         1,240,203         4.2%       130.60
      Health                            1,935,439         6.6%       203.82
      Highways                          1,715,245         5.9%       180.63
      Police protection                   211,747         0.7%        22.30
      Correction                        1,029,221         3.5%       108.38
      Natural resources                   438,273         1.5%        46.15
      Parks and recreation                 89,382         0.3%         9.41
      Governmental administration         705,173         2.4%        74.26
      Interest on general debt            619,812         2.1%        65.27
      Other and unallocable             2,278,195         7.8%       239.91
  Utility expenditure                       4,076         0.0%         0.43
  Liquor stores expenditure               354,023         1.2%        37.28
  Insurance trust expenditure           3,084,993        10.5%       324.87

Debt at end of fiscal year             11,505,325       100.0%     1,211.60

Cash and Security Holdings             36,296,492       100.0%     3,822.29