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

                                                      Percent           Per
KENTUCKY                                     1995 Distribution       capita

Population (thousands)                      3,860           -             -
Total Revenue                          12,845,822       100.0%     3,327.93
  General revenue                      11,084,543        86.3%     2,871.64
    Intergovernmental revenue           3,048,428        23.7%       789.75
    Taxes                               6,284,623        48.9%     1,628.14
      General sales                     1,680,525        13.1%       435.37
      Selective sales                   1,246,396         9.7%       322.90
      License taxes                       373,361         2.9%        96.73
      Individual income                 1,964,843        15.3%       509.03
      Corporation net income              340,912         2.7%        88.32
      Other taxes                         678,586         5.3%       175.80
    Current charges                     1,022,690         8.0%       264.95
    Miscellaneous general revenue         728,802         5.7%       188.81
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               1,761,279        13.7%       456.29

Total Expenditure                      11,395,067       100.0%     2,952.09
  Intergovernmental expenditure         2,790,070        24.5%       722.82
  Direct expenditure                    8,604,997        75.5%     2,229.27
    Current operation                   5,791,657        50.8%     1,500.43
    Capital outlay                        932,029         8.2%       241.46
    Insurance benefits and repayments   1,196,153        10.5%       309.88
    Assistance and subsidies              327,499         2.9%        84.84
    Interest on debt                      357,659         3.1%        92.66
Exhibit:  Salaries and wages            2,123,807        18.6%       550.21

Total expenditure                      11,395,067       100.0%     2,952.09
  General expenditure                  10,191,078        89.4%     2,640.18
        Intergovernmental expenditure   2,790,070        24.5%       722.82
        Direct expenditure              7,401,008        64.9%     1,917.36
  General expenditure, by function:
      Education                         4,062,156        35.6%     1,052.37
      Public welfare                    2,776,428        24.4%       719.28
      Hospitals                           337,269         3.0%        87.38
      Health                              254,296         2.2%        65.88
      Highways                            921,885         8.1%       238.83
      Police protection                   113,289         1.0%        29.35
      Correction                          221,083         1.9%        57.28
      Natural resources                   252,412         2.2%        65.39
      Parks and recreation                 83,452         0.7%        21.62
      Governmental administration         401,971         3.5%       104.14
      Interest on general debt            357,659         3.1%        92.66
      Other and unallocable               409,178         3.6%       106.00
  Utility expenditure                       7,836         0.1%         2.03
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           1,196,153        10.5%       309.88

Debt at end of fiscal year              7,097,496       100.0%     1,838.73

Cash and Security Holdings             16,636,630       100.0%     4,310.01