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

                                                      Percent           Per
INDIANA                                      1995 Distribution       capita

Population (thousands)                      5,803           -             -
Total Revenue                          16,260,515       100.0%     2,802.09
  General revenue                      14,848,073        91.3%     2,558.69
    Intergovernmental revenue           3,438,489        21.1%       592.54
    Taxes                               8,045,753        49.5%     1,386.48
      General sales                     2,709,816        16.7%       466.97
      Selective sales                     866,068         5.3%       149.24
      License taxes                       228,396         1.4%        39.36
      Individual income                 3,257,299        20.0%       561.31
      Corporation net income              874,305         5.4%       150.66
      Other taxes                         109,869         0.7%        18.93
    Current charges                     2,032,941        12.5%       350.33
    Miscellaneous general revenue       1,330,890         8.2%       229.35
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               1,412,442         8.7%       243.40

Total Expenditure                      15,284,083       100.0%     2,633.82
  Intergovernmental expenditure         5,114,661        33.5%       881.38
  Direct expenditure                   10,169,422        66.5%     1,752.44
    Current operation                   7,718,322        50.5%     1,330.06
    Capital outlay                      1,006,487         6.6%       173.44
    Insurance benefits and repayments     958,264         6.3%       165.13
    Assistance and subsidies              200,903         1.3%        34.62
    Interest on debt                      285,446         1.9%        49.19
Exhibit:  Salaries and wages            2,389,786        15.6%       411.82

Total expenditure                      15,284,083       100.0%     2,633.82
  General expenditure                  14,325,819        93.7%     2,468.69
        Intergovernmental expenditure   5,114,661        33.5%       881.38
        Direct expenditure              9,211,158        60.3%     1,587.31
  General expenditure, by function:
      Education                         5,840,259        38.2%     1,006.42
      Public welfare                    3,207,087        21.0%       552.66
      Hospitals                           489,102         3.2%        84.28
      Health                              381,005         2.5%        65.66
      Highways                          1,398,483         9.1%       240.99
      Police protection                   118,618         0.8%        20.44
      Correction                          350,901         2.3%        60.47
      Natural resources                   154,245         1.0%        26.58
      Parks and recreation                 36,089         0.2%         6.22
      Governmental administration         332,933         2.2%        57.37
      Interest on general debt            285,446         1.9%        49.19
      Other and unallocable             1,731,863        11.3%       298.44
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure             958,264         6.3%       165.13

Debt at end of fiscal year              5,456,751       100.0%       940.33

Cash and Security Holdings             19,549,771       100.0%     3,368.91