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

                                                      Percent           Per
NEW JERSEY                                   1995 Distribution       capita

Population (thousands)                      7,945           -             -
Total Revenue                          32,675,210       100.0%     4,112.68
  General revenue                      25,342,938        77.6%     3,189.80
    Intergovernmental revenue           6,051,263        18.5%       761.64
    Taxes                              13,606,950        41.6%     1,712.64
      General sales                     4,133,278        12.6%       520.24
      Selective sales                   2,842,034         8.7%       357.71
      License taxes                       720,570         2.2%        90.69
      Individual income                 4,540,082        13.9%       571.44
      Corporation net income            1,028,947         3.1%       129.51
      Other taxes                         342,039         1.0%        43.05
    Current charges                     2,467,226         7.6%       310.54
    Miscellaneous general revenue       3,217,499         9.8%       404.97
  Utility revenue                         428,364         1.3%        53.92
  Liquor stores revenue                         0         0.0%         0.00
  Insurance trust revenue               6,903,908        21.1%       868.96

Total Expenditure                      32,605,483       100.0%     4,103.90
  Intergovernmental expenditure         7,900,814        24.2%       994.44
  Direct expenditure                   24,704,669        75.8%     3,109.46
    Current operation                  15,705,461        48.2%     1,976.77
    Capital outlay                      2,713,013         8.3%       341.47
    Insurance benefits and repayments   4,766,915        14.6%       599.99
    Assistance and subsidies              342,765         1.1%        43.14
    Interest on debt                    1,176,515         3.6%       148.08
Exhibit:  Salaries and wages            4,829,141        14.8%       607.82

Total expenditure                      32,605,483       100.0%     4,103.90
  General expenditure                  26,438,155        81.1%     3,327.65
        Intergovernmental expenditure   7,900,814        24.2%       994.44
        Direct expenditure             18,537,341        56.9%     2,333.21
  General expenditure, by function:
      Education                         7,406,043        22.7%       932.16
      Public welfare                    6,773,448        20.8%       852.54
      Hospitals                         1,039,190         3.2%       130.80
      Health                              653,569         2.0%        82.26
      Highways                          2,119,032         6.5%       266.71
      Police protection                   295,862         0.9%        37.24
      Correction                          825,382         2.5%       103.89
      Natural resources                   272,699         0.8%        34.32
      Parks and recreation                331,901         1.0%        41.77
      Governmental administration         890,687         2.7%       112.11
      Interest on general debt          1,168,210         3.6%       147.04
      Other and unallocable             4,664,964        14.3%       587.16
  Utility expenditure                   1,400,413         4.3%       176.26
  Liquor stores expenditure                     0         0.0%         0.00
  Insurance trust expenditure           4,766,915        14.6%       599.99

Debt at end of fiscal year             24,357,951       100.0%     3,065.82

Cash and Security Holdings             51,888,015       100.0%     6,530.90