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

                                                      Percent           Per
NEW JERSEY                                   1994 Distribution       capita

Population (thousands)                      7,904           -             -
Total Revenue                          29,807,721       100.0%     3,771.22
  General revenue                      24,028,565        80.6%     3,040.05
    Intergovernmental revenue           5,246,012        17.6%       663.72
    Taxes                              13,494,043        45.3%     1,707.24
      General sales                     3,778,427        12.7%       478.04
      Selective sales                   3,163,418        10.6%       400.23
      License taxes                       614,423         2.1%        77.74
      Individual income                 4,475,079        15.0%       566.18
      Corporation net income            1,085,055         3.6%       137.28
      Other taxes                         377,641         1.3%        47.78
    Current charges                     2,325,795         7.8%       294.26
    Miscellaneous general revenue       2,962,715         9.9%       374.84
  Utility revenue                         408,019         1.4%        51.62
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               5,371,137        18.0%       679.55

Total Expenditure                      29,605,770       100.0%     3,745.67
  Intergovernmental expenditure         8,269,624        27.9%     1,046.26
  Direct expenditure                   21,336,146        72.1%     2,699.41
    Current operation                  13,579,873        45.9%     1,718.10
    Capital outlay                      2,145,616         7.2%       271.46
    Insurance benefits and repayments   4,059,057        13.7%       513.54
    Assistance and subsidies              245,836         0.8%        31.10
    Interest on debt                    1,305,764         4.4%       165.20
Exhibit:  Salaries and wages            4,365,222        14.7%       552.28

Total expenditure                      29,605,770       100.0%     3,745.67
  General expenditure                  24,432,409        82.5%     3,091.14
        Intergovernmental expenditure   8,269,624        27.9%     1,046.26
        Direct expenditure             16,162,785        54.6%     2,044.89
  General expenditure, by function:
      Education                         7,614,241        25.7%       963.34
      Public welfare                    5,892,124        19.9%       745.46
      Hospitals                           977,660         3.3%       123.69
      Health                              546,514         1.8%        69.14
      Highways                          1,779,672         6.0%       225.16
      Police protection                   278,813         0.9%        35.27
      Correction                          702,214         2.4%        88.84
      Natural resources                   208,640         0.7%        26.40
      Parks and recreation                279,746         0.9%        35.39
      Governmental administration         733,896         2.5%        92.85
      Interest on general debt          1,296,825         4.4%       164.07
      Other and unallocable             4,124,303        13.9%       521.80
  Utility expenditure                   1,114,304         3.8%       140.98
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           4,059,057        13.7%       513.54

Debt at end of fiscal year             22,894,179       100.0%     2,896.53

Cash and Security Holdings             48,967,630       100.0%     6,195.30