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

                                                      Percent           Per
MISSISSIPPI                                  1995 Distribution       capita

Population (thousands)                      2,697           -             -
Total Revenue                           8,300,728       100.0%     3,077.76
  General revenue                       7,055,718        85.0%     2,616.14
    Intergovernmental revenue           2,556,495        30.8%       947.90
    Taxes                               3,599,244        43.4%     1,334.54
      General sales                     1,691,654        20.4%       627.24
      Selective sales                     730,669         8.8%       270.92
      License taxes                       226,427         2.7%        83.96
      Individual income                   683,247         8.2%       253.34
      Corporation net income              203,339         2.4%        75.39
      Other taxes                          63,908         0.8%        23.70
    Current charges                       652,209         7.9%       241.83
    Miscellaneous general revenue         247,770         3.0%        91.87
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                   131,181         1.6%        48.64
  Insurance trust revenue               1,113,829        13.4%       412.99

Total Expenditure                       7,413,908       100.0%     2,748.95
  Intergovernmental expenditure         2,278,909        30.7%       844.98
  Direct expenditure                    5,134,999        69.3%     1,903.97
    Current operation                   3,737,654        50.4%     1,385.86
    Capital outlay                        572,363         7.7%       212.22
    Insurance benefits and repayments     600,559         8.1%       222.68
    Assistance and subsidies              108,787         1.5%        40.34
    Interest on debt                      115,636         1.6%        42.88
Exhibit:  Salaries and wages            1,147,840        15.5%       425.60

Total expenditure                       7,413,908       100.0%     2,748.95
  General expenditure                   6,707,914        90.5%     2,487.18
        Intergovernmental expenditure   2,278,909        30.7%       844.98
        Direct expenditure              4,429,005        59.7%     1,642.20
  General expenditure, by function:
      Education                         2,494,844        33.7%       925.04
      Public welfare                    1,631,094        22.0%       604.78
      Hospitals                           349,039         4.7%       129.42
      Health                              193,026         2.6%        71.57
      Highways                            584,801         7.9%       216.83
      Police protection                    49,793         0.7%        18.46
      Correction                          139,495         1.9%        51.72
      Natural resources                   164,255         2.2%        60.90
      Parks and recreation                 89,931         1.2%        33.34
      Governmental administration         180,122         2.4%        66.79
      Interest on general debt            115,636         1.6%        42.88
      Other and unallocable               715,932         9.7%       265.45
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure               105,435         1.4%        39.09
  Insurance trust expenditure             600,559         8.1%       222.68

Debt at end of fiscal year              1,924,051       100.0%       713.40

Cash and Security Holdings             12,547,784       100.0%     4,652.50