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

                                                      Percent           Per
NORTH CAROLINA                               1995 Distribution       capita

Population (thousands)                      7,195           -             -
Total Revenue                          22,091,333       100.0%     3,070.37
  General revenue                      19,170,054        86.8%     2,664.36
    Intergovernmental revenue           5,474,923        24.8%       760.93
    Taxes                              11,425,714        51.7%     1,588.01
      General sales                     2,794,111        12.6%       388.34
      Selective sales                   2,067,265         9.4%       287.32
      License taxes                       710,224         3.2%        98.71
      Individual income                 4,699,115        21.3%       653.11
      Corporation net income              906,007         4.1%       125.92
      Other taxes                         248,992         1.1%        34.61
    Current charges                     1,474,034         6.7%       204.87
    Miscellaneous general revenue         795,383         3.6%       110.55
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               2,921,279        13.2%       406.02

Total Expenditure                      20,436,613       100.0%     2,840.39
  Intergovernmental expenditure         6,665,456        32.6%       926.40
  Direct expenditure                   13,771,157        67.4%     1,913.99
    Current operation                   9,529,943        46.6%     1,324.52
    Capital outlay                      1,639,618         8.0%       227.88
    Insurance benefits and repayments   1,702,043         8.3%       236.56
    Assistance and subsidies              641,621         3.1%        89.18
    Interest on debt                      257,932         1.3%        35.85
Exhibit:  Salaries and wages            3,189,419        15.6%       443.28

Total expenditure                      20,436,613       100.0%     2,840.39
  General expenditure                  18,734,570        91.7%     2,603.83
        Intergovernmental expenditure   6,665,456        32.6%       926.40
        Direct expenditure             12,069,114        59.1%     1,677.43
  General expenditure, by function:                                    0.00
      Education                         7,761,071        38.0%     1,078.68
      Public welfare                    4,020,356        19.7%       558.77
      Hospitals                           737,658         3.6%       102.52
      Health                              846,203         4.1%       117.61
      Highways                          1,818,036         8.9%       252.68
      Police protection                   193,459         0.9%        26.89
      Correction                          819,632         4.0%       113.92
      Natural resources                   392,976         1.9%        54.62
      Parks and recreation                 59,314         0.3%         8.24
      Governmental administration         601,000         2.9%        83.53
      Interest on general debt            257,932         1.3%        35.85
      Other and unallocable             1,226,933         6.0%       170.53
  Utility expenditure                           0         0.0%         0.00
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           1,702,043         8.3%       236.56

Debt at end of fiscal year              4,547,541       100.0%       632.04

Cash and Security Holdings             35,305,857       100.0%     4,907.00