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Total state income exceeded expenditures in fiscal 1990.

State revenues exceeded expenditures by $9.5 billion in fiscal 1990, according to a Commerce Clearing House report based on data supplied by the U.S. Census Bureau.

The data are for the fiscal year ending June 30, 1990, except for Alabama, Michigan, New York and Texas, which have different fiscal yearends.

State general revenues rose to $517.4 billion, a gain of 7.2% over the previous fiscal year. Taxes provided $300.5 billion of state general revenues, up 5.7%. Charges and miscellaneous general revenues were up 9.8%, to $90.6 billion, and intergovernmental revenues grew 9.1% to $126.3 billion.

State general expenditures totaled $507.9 billion. Among the largest expense categories, education expenses--which accounted for over one-third of state spending, were up 6.6% to $184.5 billion. Of that amount, state aid to local governments for support of public schools rose 4.5% to $109.3 billion. State expenditures for public welfare jumped 13.2% to $105 billion, and outlays for highways rose 3.6% to $44.2 billion.
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Author:Wagenbrenner, Anne
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Jun 1, 1992
Words:176
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