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

                                                      Percent           Per
NORTH CAROLINA                               1994 Distribution       capita

Population (thousands)                      7,070           -             -
Total Revenue                          21,050,902       100.0%     2,977.50
  General revenue                      17,959,184        85.3%     2,540.20
    Intergovernmental revenue           5,298,351        25.2%       749.41
    Taxes                              10,518,600        50.0%     1,487.78
      General sales                     2,589,005        12.3%       366.20
      Selective sales                   2,008,683         9.5%       284.11
      License taxes                       646,871         3.1%        91.50
      Individual income                 4,288,148        20.4%       606.53
      Corporation net income              737,260         3.5%       104.28
      Other taxes                         248,633         1.2%        35.17
    Current charges                     1,431,147         6.8%       202.43
    Miscellaneous general revenue         711,086         3.4%       100.58
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               3,091,718        14.7%       437.30

Total Expenditure                      19,039,785       100.0%     2,693.04
  Intergovernmental expenditure         6,589,994        34.6%       932.11
  Direct expenditure                   12,449,791        65.4%     1,760.93
    Current operation                   8,802,517        46.2%     1,245.05
    Capital outlay                      1,381,304         7.3%       195.38
    Insurance benefits and repayments   1,397,314         7.3%       197.64
    Assistance and subsidies              627,337         3.3%        88.73
    Interest on debt                      241,319         1.3%        34.13
Exhibit:  Salaries and wages            2,985,696        15.7%       422.30

Total expenditure                      19,039,785       100.0%     2,693.04
  General expenditure                  17,642,471        92.7%     2,495.40
        Intergovernmental expenditure   6,589,994        34.6%       932.11
        Direct expenditure             11,052,477        58.0%     1,563.29
  General expenditure, by function:                                    0.00
      Education                         7,670,250        40.3%     1,084.90
      Public welfare                    3,603,210        18.9%       509.65
      Hospitals                           712,761         3.7%       100.81
      Health                              700,800         3.7%        99.12
      Highways                          1,713,492         9.0%       242.36
      Police protection                   189,367         1.0%        26.78
      Correction                          720,414         3.8%       101.90
      Natural resources                   338,274         1.8%        47.85
      Parks and recreation                 61,944         0.3%         8.76
      Governmental administration         537,516         2.8%        76.03
      Interest on general debt            241,319         1.3%        34.13
      Other and unallocable             1,153,124         6.1%       163.10
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           1,397,314         7.3%       197.64

Debt at end of fiscal year              4,537,505       100.0%       641.80

Cash and Security Holdings             32,213,222       100.0%     4,556.33