Federal Reserve Statistical Release, Z.1,
 Flow of Funds Accounts of the United States; title with eagle logo links to Statistical Release home page

Release Date: September 20, 2012
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F.104 State and Local Governments 1
Billions of dollars; quarterly figures are seasonally adjusted annual rates

Description
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State and local governments; current receipts, NIPA basis 1923.1 1944.8 1961.4 2042.4 2064.4 2073.9 2098.0 2045.2 2040.5 2050.4 2075.4 1
State and local governments; personal current taxes 323.1 334.4 287.6 300.6 322.8 319.9 328.1 321.7 321.4 325.9 337.8 2
State and local governments; taxes on production and imports, receivable (IMA) 932.7 944.6 931.8 959.5 990.4 982.1 990.7 990.1 998.8 1015.2 1020.4 3
State and local governments; taxes on corporate income (accrual basis) 57.8 47.4 45.5 44.5 47.6 48.3 45.7 47.1 49.3 50.1 46.3 4
State and local governments; contributions for government social insurance received 18.9 19.0 19.0 18.4 18.3 18.4 18.4 18.3 18.1 17.8 17.5 5
State and local governments; property income (received) 114.5 106.8 95.0 88.8 86.4 86.7 86.4 86.6 86.0 85.7 86.2 6
State and local governments; other current transfer received 485.1 505.0 593.6 643.2 612.7 631.7 642.2 595.4 581.6 571.1 583.4 7
State and local governments; operating surplus, net -9.1 -12.3 -11.1 -12.5 -13.8 -13.1 -13.5 -14.1 -14.7 -15.4 -16.1 8
State and local governments; current expenditures 1910.8 2017.0 2074.6 2132.1 2166.3 2172.6 2172.6 2163.2 2157.0 2178.1 2188.1 9
State and local governments; consumption expenditures 1368.9 1449.2 1473.3 1496.2 1518.0 1511.4 1520.3 1522.0 1518.4 1531.4 1526.1 10
State and local governments; social contributions paid 433.7 456.7 495.1 528.3 538.5 552.0 542.9 531.4 527.9 534.4 548.5 11
State and local governments; interest paid (IMA) 101.1 108.1 104.8 106.0 109.2 108.3 109.0 109.3 110.3 111.9 113.1 12
State and local governments; subsidies paid 7.1 3.0 1.4 1.6 0.5 0.9 0.4 0.4 0.4 0.5 0.5 13
State and local governments; wage accruals less disbursements 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 14
State and local governments; net saving including net capital transfers paid 12.2 -72.2 -113.2 -89.7 -102.0 -98.7 -74.6 -118.0 -116.5 -127.6 -112.7 15
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) 178.7 191.2 198.8 203.3 212.4 207.9 210.8 213.9 216.8 219.2 221.7 16
State and local governments; net capital transfers paid -58.9 -62.8 -66.5 -75.6 -72.5 -71.2 -71.7 -72.9 -74.1 -68.5 -70.1 17
State and local governments; gross saving less net capital transfers paid 249.8 181.8 152.0 189.2 182.9 180.5 207.9 168.8 174.4 160.1 179.2 18
State and local governments; gross investment 270.8 201.8 183.1 210.9 201.6 198.1 227.7 180.8 200.0 186.3 196.1 19
State and local governments; gross fixed investment 329.0 348.8 350.3 338.2 319.7 321.5 317.7 318.3 321.3 315.5 315.7 20
State and local governments; acquisition of nonproduced nonfinancial assets (net) 13.8 14.1 12.7 11.5 11.5 11.5 11.5 11.5 11.4 11.2 11.0 21
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account) -72.0 -161.1 -179.8 -138.9 -129.5 -134.9 -101.5 -148.9 -132.7 -140.4 -130.6 22
State and local governments, excluding employee retirement funds; total financial assets 111.9 -102.0 -28.7 -32.7 -147.9 -180.2 -139.3 -115.6 -156.6 -137.0 -66.9 23
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset -4.8 8.5 19.2 6.7 15.9 14.8 23.3 8.6 16.9 -10.2 -8.3 24
State and local governments, excluding employee retirement funds; total time and savings deposits; asset 36.4 19.1 10.8 -0.4 18.0 0.4 31.4 11.5 28.7 -0.2 31.2 25
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset 17.3 5.7 12.4 8.7 -2.7 1.8 3.2 -10.0 -5.8 -5.4 -7.8 26
State and local governments, excluding employee retirement funds; federal funds and security repurchase agreements; asset 6.4 -7.8 -1.1 -4.9 -8.0 -10.4 -9.2 -7.9 -4.6 -4.2 -6.2 27
State and local governments, excluding employee retirement funds; credit market instruments; asset 97.4 -116.5 -42.1 -17.1 -110.8 -89.0 -95.9 -126.6 -131.9 -90.3 -14.9 28
State and local governments, excluding employee retirement funds; commercial paper; asset -15.8 -73.1 -70.2 -9.8 9.1 4.3 5.7 11.5 15.1 15.4 13.3 29
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset 36.4 -37.2 30.3 6.4 -61.9 -51.4 -62.9 -60.0 -73.4 -44.6 17.1 30
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities;; asset 43.9 -4.6 -19.3 -13.5 -45.3 -36.7 -31.8 -53.3 -59.3 -47.9 -26.1 31
State and local governments, excluding employee retirement funds; municipal securities and loans; asset 1.6 0.7 1.2 0.9 -0.2 0.3 0.4 -0.9 -0.5 -0.5 -0.7 32
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset 14.2 -1.3 6.8 2.3 -6.4 -5.2 -3.6 -10.7 -6.2 -5.7 -8.4 33
State and local governments, excluding employee retirement funds; total mortgages; asset 17.3 -1.0 9.1 -3.4 -6.2 -0.3 -3.6 -13.1 -7.6 -7.0 -10.3 34
State and local governments, excluding employee retirement funds; corporate equities; asset -1.9 9.8 16.0 -30.8 -6.0 -24.4 -4.4 41.5 -36.7 -49.5 -4.2 35
State and local governments, excluding employee retirement funds; mutual fund shares; asset 1.2 16.7 -8.8 -9.5 -1.6 -9.1 0.5 20.6 -18.4 -39.8 -7.7 36
State and local governments, excluding employee retirement funds; trade receivables; asset -12.5 -21.1 -18.6 -20.2 -10.0 -20.2 -20.0 0.0 0.0 0.0 0.0 37
State and local governments, excluding employee retirement funds; taxes receivable; asset 2.7 2.2 -6.7 -6.3 5.4 5.8 2.2 6.6 6.8 12.2 4.3 38
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets -30.5 -18.6 -9.9 41.2 -48.0 -49.8 -70.4 -60.0 -11.7 50.4 -53.2 39
State and local governments, excluding employee retirement funds; total liabilities 183.9 59.2 151.1 106.2 -18.4 -45.3 -37.8 33.2 -23.9 3.4 63.8 40
State and local governments, excluding employee retirement funds; credit market instruments; liability 146.9 20.0 111.5 66.2 -58.6 -85.3 -77.9 -7.0 -64.3 -37.0 23.6 41
State and local governments, excluding employee retirement funds; municipal securities and loans; liability 146.2 19.2 110.7 65.3 -59.5 -85.7 -78.7 -8.1 -65.5 -37.6 22.5 42
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability 16.8 4.7 7.7 -0.6 -10.7 -11.9 -25.9 13.8 -18.9 -3.3 36.3 43
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability 129.4 14.4 102.9 66.0 -48.8 -73.8 -52.8 -21.8 -46.6 -34.3 -13.8 44
State and local governments, excluding employee retirement funds; U.S. government loans; liability 0.7 0.8 0.8 0.9 0.9 0.4 0.8 1.1 1.2 0.5 1.1 45
State and local governments, excluding employee retirement funds; trade payables; liability 37.0 39.2 39.6 40.0 40.2 40.0 40.1 40.3 40.4 40.4 40.2 46
State and local governments, excluding employee retirement funds; sector discrepancy -21.0 -20.0 -31.1 -21.7 -18.7 -17.6 -19.7 -12.0 -25.6 -26.2 -16.9 47


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