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

                                                      Percent           Per
MICHIGAN                                     1995 Distribution       capita

Population (thousands)                      9,549           -             -
Total Revenue                          35,328,334       100.0%     3,699.69
  General revenue                      30,217,499        85.5%     3,164.47
    Intergovernmental revenue           7,518,487        21.3%       787.36
    Taxes                              17,723,494        50.2%     1,856.06
      General sales                     5,865,988        16.6%       614.30
      Selective sales                   1,801,147         5.1%       188.62
      License taxes                       853,459         2.4%        89.38
      Individual income                 5,473,072        15.5%       573.16
      Corporation net income            2,130,395         6.0%       223.10
      Other taxes                       1,599,433         4.5%       167.50
    Current charges                     3,075,955         8.7%       322.12
    Miscellaneous general revenue       1,899,563         5.4%       198.93
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                   458,038         1.3%        47.97
  Insurance trust revenue               4,652,797        13.2%       487.25

Total Expenditure                      34,668,698       100.0%     3,630.61
  Intergovernmental expenditure        13,590,202        39.2%     1,423.21
  Direct expenditure                   21,078,496        60.8%     2,207.40
    Current operation                  14,190,991        40.9%     1,486.12
    Capital outlay                      1,437,985         4.1%       150.59
    Insurance benefits and repayments   3,437,144         9.9%       359.95
    Assistance and subsidies            1,296,917         3.7%       135.82
    Interest on debt                      715,459         2.1%        74.93
Exhibit:  Salaries and wages            4,895,533        14.1%       512.67

Total expenditure                      34,668,698       100.0%     3,630.61
  General expenditure                  30,875,320        89.1%     3,233.36
        Intergovernmental expenditure  13,590,202        39.2%     1,423.21
        Direct expenditure             17,285,118        49.9%     1,810.15
  General expenditure, by function:
      Education                        13,888,845        40.1%     1,454.48
      Public welfare                    6,178,800        17.8%       647.06
      Hospitals                         1,463,876         4.2%       153.30
      Health                            1,882,415         5.4%       197.13
      Highways                          1,832,096         5.3%       191.86
      Police protection                   219,852         0.6%        23.02
      Correction                        1,184,528         3.4%       124.05
      Natural resources                   307,574         0.9%        32.21
      Parks and recreation                 60,355         0.2%         6.32
      Governmental administration         734,346         2.1%        76.90
      Interest on general debt            715,459         2.1%        74.93
      Other and unallocable             2,412,342         7.0%       252.63
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure               356,234         1.0%        37.31
  Insurance trust expenditure           3,437,144         9.9%       359.95

Debt at end of fiscal year             12,535,217       100.0%     1,312.73

Cash and Security Holdings             39,872,130       100.0%     4,175.53