Board of Governors of the Federal Reserve System

Financial Accounts of the United States - Z.1

S.8.a State and Local Governments

2016:Q3 Release Date: December 8, 2016

Billions of dollars

Description Series code 2008 2009 2010 2011 2012 2013 2014 2015
Line
State and local governments; gross value added (IMA) FA206902505 1385.2 1419.4 1454.2 1471.4 1496.5 1532.0 1575.3 1627.0 1
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) FA206300003 200.2 208.2 212.7 222.2 231.9 238.5 246.1 251.0 2
State and local governments; net value added (IMA) FA206902605 1185.0 1211.3 1241.5 1249.2 1264.6 1293.5 1329.2 1376.0 3
State and local governments; compensation of employees paid (IMA) FA206025001 1207.1 1232.6 1261.3 1266.5 1275.0 1303.3 1341.2 1387.4 4
State and local governments; wages and salaries paid (IMA) FA206020001 847.4 862.9 862.6 863.1 870.6 887.6 912.7 944.9 5
State and local governments; employers' social contributions paid (IMA) FA206401005 359.7 369.7 398.7 403.5 404.4 415.8 428.5 442.5 6
State and local governments; operating surplus, net FA206402101 -22.0 -21.4 -19.8 -17.4 -10.4 -9.8 -11.9 -11.4 7
State and local governments; net national income/balance of primary incomes, net (IMA) FA206140005 901.6 811.0 829.5 864.6 880.3 914.5 957.9 980.8 8
State and local governments; operating surplus, net FA206402101 -22.0 -21.4 -19.8 -17.4 -10.4 -9.8 -11.9 -11.4 9
State and local governments; taxes on production and imports, receivable (IMA) FA206240001 947.9 934.8 960.4 994.0 1016.9 1050.1 1075.7 1098.3 10
State and local governments; subsidies paid (with negative sign) (IMA) FA206402015 -3.0 -1.4 -1.6 -0.5 -0.5 -0.5 -0.5 -0.5 11
State and local governments; property income (received) (IMA) FA206150195 105.7 87.8 82.6 79.2 75.4 75.4 77.2 79.6 12
State and local governments; interest received (IMA) FA206130101 91.0 74.4 69.1 64.8 59.8 58.9 59.6 60.7 13
State and local governments; dividends received (IMA) FA206121101 2.6 2.1 2.3 2.6 3.3 3.6 3.8 4.2 14
State and local governments; rents on land and natural resources received (IMA) FA206112101 12.1 11.2 11.2 11.7 12.3 12.9 13.9 14.7 15
State and local governments; interest paid (IMA Q4) FA206130095 127.0 188.8 192.1 190.7 201.2 200.7 182.6 185.2 16
State and local governments; net national income/balance of primary incomes, net (IMA) FA206140005 901.6 811.0 829.5 864.6 880.3 914.5 957.9 980.8 17
State and local governments; current taxes on income, wealth, etc. received (IMA) FA206220005 381.0 333.4 345.3 374.3 399.2 431.3 443.2 466.4 18
State and local governments; contributions for government social insurance received FA206601001 18.7 18.6 18.1 18.2 18.0 18.5 19.1 19.0 19
State and local governments; social contributions paid FA206404001 455.4 492.6 523.8 530.4 540.0 563.4 612.9 666.0 20
State and local governments; other current transfer received FA206403105 477.8 566.1 612.0 582.1 558.0 571.3 624.5 679.6 21
State and local governments; other current transfer payments to the rest of the world FA206403001 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
State and local governments; disposable income, net (IMA) FA206012005 1323.7 1236.4 1281.0 1308.9 1315.5 1372.2 1431.8 1479.9 23
State and local governments; consumption expenditures FA206901001 1488.7 1508.4 1518.3 1524.8 1536.3 1562.7 1601.6 1641.2 24
State and local governments; net saving including net capital transfers paid (IMA) FA206006095 -165.1 -271.9 -237.3 -215.9 -220.8 -190.5 -169.8 -161.3 25
State and local governments; net saving less net capital transfers paid (IMA) FA206006395 -101.8 -204.2 -160.6 -142.1 -146.6 -118.9 -98.9 -92.0 26
State and local governments; net saving including net capital transfers paid (IMA) FA206006095 -165.1 -271.9 -237.3 -215.9 -220.8 -190.5 -169.8 -161.3 27
State and local governments; net capital transfers paid FA205440005 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 -70.9 -69.3 28
State and local governments; capital formation, net (IMA) FA205050905 172.5 167.2 149.7 127.6 107.0 94.4 94.4 110.3 29
State and local governments; gross fixed investment FA205019001 358.8 363.0 351.9 340.5 329.7 323.9 331.6 352.2 30
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) FA206300003 200.2 208.2 212.7 222.2 231.9 238.5 246.1 251.0 31
State and local governments; acquisition of nonproduced nonfinancial assets (net) FA205420003 13.8 12.3 10.6 9.2 9.1 9.0 8.9 9.2 32
State and local governments; net lending (+) or borrowing (-) (capital account) (IMA) FA205000995 -274.3 -371.4 -310.3 -269.6 -253.6 -213.3 -193.3 -202.3 33
State and local governments; net lending (+) or borrowing (-) (capital account) (IMA) FA205000995 -274.3 -371.4 -310.3 -269.6 -253.6 -213.3 -193.3 -202.3 34
State and local governments, excluding employee retirement funds; total financial assets FA214090005 -108.2 32.6 77.7 -25.9 72.3 -22.2 88.1 95.8 35
State and local governments, excluding employee retirement funds; total currency and deposits; asset FA214000005 26.4 29.7 -0.3 32.6 13.1 25.2 24.9 4.8 36
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset FA213020005 8.4 19.3 5.7 16.8 -8.8 7.1 16.0 -8.8 37
State and local governments, excluding employee retirement funds; total time and savings deposits; asset FA213030005 18.0 10.4 -6.0 15.8 21.9 18.1 8.9 13.6 38
State and local governments, excluding employee retirement funds; debt securities; asset FA214022005 -95.2 -31.8 55.4 -60.8 21.1 -63.6 16.6 31.5 39
State and local governments, excluding employee retirement funds; commercial paper; asset FA213069103 -22.4 -38.0 13.2 -12.0 -7.5 -9.8 -7.3 -2.8 40
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset FA213061105 -47.4 -14.0 8.4 -33.8 44.5 -19.9 35.2 44.7 41
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset FA213061703 -19.7 14.2 24.4 -13.2 -18.8 -31.9 -15.9 -21.2 42
State and local governments, excluding employee retirement funds; municipal securities; asset FA213062003 0.4 1.1 1.4 0.2 0.2 -0.1 0.3 0.8 43
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset FA213063003 -6.1 4.8 8.0 -2.0 2.7 -1.8 4.2 10.0 44
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset FA214035005 -17.1 7.4 13.2 -3.7 10.1 0.1 11.5 23.4 45
State and local governments, excluding employee retirement funds; security repurchase agreements; asset FA212051003 -12.5 -3.1 -1.0 -4.5 4.3 0.9 5.5 10.2 46
State and local governments, excluding employee retirement funds; total mortgages; asset FA213065005 -4.7 10.5 14.2 0.9 5.8 -0.8 6.0 13.2 47
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) FA213081005 -6.6 11.6 17.4 -1.1 7.0 -0.9 9.7 20.3 48
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset FA213034003 2.3 11.1 14.4 2.3 4.8 0.6 6.3 12.2 49
State and local governments, excluding employee retirement funds; corporate equities; asset FA213064103 -8.1 -1.5 0.1 -3.3 1.5 -0.9 2.2 5.3 50
State and local governments, excluding employee retirement funds; mutual fund shares; asset FA213064203 -0.8 2.0 3.0 -0.1 0.7 -0.5 1.2 2.7 51
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) FA213096005 -15.7 15.7 -8.0 7.1 21.0 17.0 25.3 15.7 52
State and local governments, excluding employee retirement funds; trade receivables; asset FA213070003 -15.4 -4.6 13.1 5.6 5.3 9.5 11.2 0.7 53
State and local governments, excluding employee retirement funds; taxes receivable; asset FA213078005 5.2 -5.8 1.0 2.4 9.5 4.1 6.8 3.5 54
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets FA213093003 -5.5 26.1 -22.1 -1.0 6.1 3.4 7.3 11.5 55
State and local governments, excluding employee retirement funds; total liabilities FA214190005 258.9 482.1 362.0 309.8 345.1 227.3 264.8 306.7 56
State and local governments, excluding employee retirement funds; municipal securities; liability FA213162005 34.1 128.6 73.5 -47.2 -5.7 -56.3 -35.6 10.3 57
State and local governments, excluding employee retirement funds; short-term municipal securities; liability FA213162400 4.8 7.9 -0.9 -10.6 3.8 -10.9 -6.4 -6.1 58
State and local governments, excluding employee retirement funds; long-term municipal securities; liability FA213162200 29.4 120.7 74.4 -36.6 -9.5 -45.4 -29.2 16.4 59
State and local governments, excluding employee retirement funds; U.S. government loans; liability FA213169203 0.8 0.8 0.9 0.9 0.4 0.5 0.4 0.3 60
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FA223073045 185.3 313.8 249.1 317.8 312.3 244.9 261.1 256.0 61
State and local governments, excluding employee retirement funds; trade payables; liability FA213170003 38.6 38.9 38.5 38.4 38.1 38.2 38.9 40.1 62
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account) FA215000005 -367.2 -449.5 -284.3 -335.8 -272.9 -249.4 -176.7 -210.9 63
State and local governments, excluding employee retirement funds; total other volume changes (IMA) FV218090185 -109.2 -39.3 -216.8 -58.7 -1.1 -38.2 -28.2 -30.8 64
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) FV212010095 0.0 0.0 0.0 0.0 -7.6 0.0 0.0 0.0 65
State and local governments, excluding employee retirement funds; other volume changes (IMA) FV218090085 -16.3 38.9 -242.8 7.4 25.7 -2.1 -44.9 -22.1 66
State and local governments, excluding employee retirement funds; statistical discrepancy (IMA) FU217005045 92.9 78.2 -26.0 66.1 19.3 36.1 -16.7 8.6 67
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) FR212010095 411.4 -105.2 175.7 392.7 225.9 240.2 173.2 65.5 68
State and local governments, excluding employee retirement funds; total residenital and nonresidential structures FR215014665 403.0 -104.3 171.9 389.2 222.6 236.6 170.1 63.1 69
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis FR215013265 6.6 -1.1 2.4 1.6 1.9 1.7 2.9 0.8 70
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis FR215013765 1.8 0.3 1.4 1.9 1.4 1.8 0.2 1.6 71
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) FR213081005 -61.0 33.4 21.6 1.9 18.5 37.5 13.6 -1.3 72
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FR223073045 853.5 -359.8 -254.1 13.5 -260.8 -589.0 -236.5 50.0 73
State and local governments, excluding employee retirement funds; changes in net worth due to nominal holding gains/losses (IMA) FR218200005 -503.1 288.1 451.5 381.1 505.1 866.7 423.3 14.2 74
State and local governments, excluding employee retirement funds; net worth (IMA) FC212090095 -714.1 44.6 74.1 180.4 357.4 709.5 296.2 -108.6 75
State and local governments, excluding employee retirement funds; total assets (does not include land) FL212000095 10812.5 10924.3 11334.5 11818.4 12233.8 12571.7 12937.8 13208.0 76
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) FL212010095 8193.3 8243.0 8557.5 9068.6 9384.7 9710.3 9969.0 10135.7 77
State and local governments, excluding employee retirement funds; total residenital and nonresidential structures FL215014665 7863.3 7903.6 8207.7 8711.9 9022.9 9341.5 9594.3 9755.8 78
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis FL215013265 236.4 240.9 245.4 246.5 246.7 247.7 249.5 249.5 79
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis FL215013765 93.6 98.5 104.4 110.2 115.2 121.2 125.2 130.4 80
State and local governments, excluding employee retirement funds; total financial assets FL214090005 2619.2 2681.3 2776.9 2749.8 2849.1 2861.3 2968.8 3072.3 81
State and local governments, excluding employee retirement funds; total currency and deposits; asset FL214000005 318.5 348.2 348.0 380.5 412.7 437.9 462.8 467.6 82
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset FL213020005 79.9 99.2 104.9 121.6 118.2 125.3 141.3 132.5 83
State and local governments, excluding employee retirement funds; total time and savings deposits; asset FL213030005 238.7 249.1 243.1 258.9 294.5 312.6 321.5 335.1 84
State and local governments, excluding employee retirement funds; debt securities; asset FL214022005 1371.0 1339.2 1394.6 1333.7 1354.9 1291.3 1307.9 1339.4 85
State and local governments, excluding employee retirement funds; commercial paper; asset FL213069103 127.6 89.6 102.8 90.7 83.2 73.4 66.1 63.3 86
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset FL213061105 601.6 587.6 596.0 562.2 606.7 586.8 622.0 666.7 87
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset FL213061703 478.6 492.8 517.2 503.9 485.2 453.3 437.4 416.2 88
State and local governments, excluding employee retirement funds; municipal securities; asset FL213062003 10.4 11.5 12.9 13.2 13.4 13.3 13.6 14.4 89
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset FL213063003 152.8 157.6 165.6 163.7 166.4 164.6 168.8 178.8 90
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset FL214035005 317.2 320.8 330.6 324.1 331.7 330.4 341.1 363.8 91
State and local governments, excluding employee retirement funds; security repurchase agreements; asset FL212051003 129.8 126.7 125.8 121.2 125.5 126.4 131.9 142.1 92
State and local governments, excluding employee retirement funds; total mortgages; asset FL213065005 187.4 194.1 204.9 202.8 206.2 204.0 209.2 221.6 93
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) FL213081005 252.9 297.9 336.9 337.7 363.2 399.8 423.1 442.1 94
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset FL213034003 125.8 136.8 151.2 153.6 158.4 158.9 165.3 177.5 95
State and local governments, excluding employee retirement funds; corporate equities; asset LM213064103 90.9 112.4 127.0 125.0 138.6 162.4 173.6 178.1 96
State and local governments, excluding employee retirement funds; mutual fund shares; asset LM213064203 36.2 48.7 58.8 59.2 66.2 78.5 84.3 86.5 97
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) FL213096005 359.6 375.2 366.9 373.7 386.5 401.9 433.8 459.4 98
State and local governments, excluding employee retirement funds; trade receivables; asset FL213070003 143.7 139.1 152.2 157.8 163.1 172.6 183.8 184.6 99
State and local governments, excluding employee retirement funds; taxes receivable; asset FL213078005 123.0 117.1 117.8 120.0 121.3 123.8 137.2 150.6 100
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets FL213093003 92.9 119.0 96.9 95.9 102.0 105.4 112.7 124.2 101
State and local governments, excluding employee retirement funds; total liabilities and net worth (IMA) FL212100005 10812.5 10924.3 11334.5 11818.4 12233.8 12571.7 12937.8 13208.0 102
State and local governments, excluding employee retirement funds; total liabilities FL214190005 4892.7 4959.9 5295.9 5599.5 5657.5 5285.9 5355.8 5734.5 103
State and local governments, excluding employee retirement funds; municipal securities; liability FL213162005 2955.6 3084.2 3157.7 3110.5 3104.8 3048.5 3012.9 3023.2 104
State and local governments, excluding employee retirement funds; short-term municipal securities; liability FL213162400 56.0 63.9 63.0 52.4 56.2 45.3 38.9 32.8 105
State and local governments, excluding employee retirement funds; long-term municipal securities; liability FL213162200 2899.6 3020.3 3094.7 3058.1 3048.6 3003.2 2974.0 2990.4 106
State and local governments, excluding employee retirement funds; U.S. government loans; liability FL213169203 12.7 13.5 14.4 15.3 15.7 16.2 16.6 16.9 107
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FL223073045 1332.8 1231.6 1454.8 1766.3 1791.5 1437.5 1503.7 1831.8 108
State and local governments, excluding employee retirement funds; trade payables; liability FL213170003 591.6 630.5 669.0 707.4 745.5 783.6 822.5 862.7 109
State and local governments, excluding employee retirement funds; net worth (IMA) FL212090095 5919.8 5964.5 6038.6 6218.9 6576.3 7285.8 7582.0 7473.4 110

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NOTES

  1. Note. The state and local government accounts exclude state and local employee retirement funds.
  2. Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in the fourth quarter of 2004.
  3. The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded flows, and other statistical differences between the capital and financial accounts.
  4. Excludes land and nonproduced nonfinancial assets.
Last update: December 8, 2016