Financial Accounts of the United States - Z.1
F.107 State and Local Governments
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2021 | 2022 | 2023 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local governments; current receipts, NIPA basis | FA216010105 | 3577.9 | 3662.4 | 3603.2 | 3643.9 | 3670.9 | 3670.3 | 3584.3 | 3587.6 | 3570.7 | 1 |
| State and local governments; personal current taxes | FA216210001 | 594 | 632.9 | 564.4 | 615.2 | 605.6 | 582.7 | 528.8 | 576.6 | 569.7 | 2 |
| State and local governments; taxes on production and imports, receivable (IMA) | FA216240001 | 1493.3 | 1616 | 1656.5 | 1631.8 | 1639.6 | 1654.1 | 1646.2 | 1659.2 | 1666.5 | 3 |
| State and local governments; taxes on corporate income (accrual basis) | FA216231001 | 110.9 | 158.6 | 151.8 | 146.2 | 160.5 | 172.5 | 150.7 | 148.7 | 135.3 | 4 |
| State and local governments; contributions for government social insurance received | FA216601001 | 22.2 | 22.5 | 21.9 | 22.4 | 22 | 21.5 | 21.4 | 21.9 | 22.8 | 5 |
| State and local governments; property income (received) | FA216150105 | 93.8 | 97.6 | 100.2 | 98 | 99.5 | 99.8 | 100.6 | 100.1 | 100.5 | 6 |
| State and local governments; other current transfer received | FA216403105 | 1277 | 1138 | 1125.9 | 1133.3 | 1153.6 | 1154.7 | 1154.8 | 1100.3 | 1093.9 | 7 |
| State and local governments; operating surplus, net | FA216402101 | -13.3 | -3.2 | -17.5 | -2.9 | -9.9 | -14.9 | -18 | -19 | -17.9 | 8 |
| State and local governments; current expenditures | FA216900005 | 3334.6 | 3602.1 | 3773.7 | 3623.5 | 3721.3 | 3733.7 | 3769 | 3800.8 | 3791.2 | 9 |
| State and local governments; consumption expenditures | FA216901001 | 2149.9 | 2341.1 | 2423.1 | 2363.2 | 2386.5 | 2399.1 | 2388.3 | 2443.9 | 2461.1 | 10 |
| State and local governments; social contributions paid | FA216404001 | 900.7 | 1012.3 | 1058.4 | 1015.5 | 1078.2 | 1055.7 | 1087.5 | 1057.6 | 1032.8 | 11 |
| State and local governments; other current transfer payments to the rest of the world | FA216403001 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| State and local governments; interest paid (IMA) | FA216130001 | 280.9 | 248 | 291.5 | 244.2 | 255.9 | 278.2 | 292.5 | 298.6 | 296.6 | 13 |
| State and local governments; subsidies paid | FA216402001 | 3.1 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 14 |
| State and local governments; net saving including net capital transfers paid | FA216006005 | 243.4 | 60.4 | -170.5 | 20.4 | -50.4 | -63.4 | -184.7 | -213.2 | -220.5 | 15 |
| State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) | FA216300001 | 333 | 371.5 | 393.2 | 377.4 | 383.1 | 389.7 | 391.7 | 394.4 | 397 | 16 |
| State and local governments; net capital transfers paid (1) | FA215440005 | -82.9 | -229.8 | -95.5 | -154.1 | -143.2 | -89 | -95.7 | -99.7 | -97.5 | 17 |
| State and local governments; gross saving less net capital transfers paid | FA216000105 | 659.3 | 661.6 | 318.2 | 551.9 | 475.9 | 415.4 | 302.6 | 280.9 | 274.1 | 18 |
| State and local governments; gross investment | FA215090005 | 679.2 | 638.5 | 381.7 | 490.8 | 530.7 | 400.1 | 342.8 | 381.7 | 402.3 | 19 |
| State and local governments; gross fixed investment (NIPA basis) | FA215019001 | 448.8 | 470.2 | 548.9 | 478.4 | 494.1 | 514.2 | 537.2 | 559 | 585.3 | 20 |
| State and local governments; acquisition of nonproduced nonfinancial assets (net) | FA215420003 | 18.3 | 19.1 | 19.8 | 19.2 | 19.3 | 19.5 | 19.7 | 19.8 | 20 | 21 |
| State and local governments; net lending (+) or borrowing (-) (financial account) | FA215000005 | 212.1 | 149.2 | -186.9 | -6.7 | 17.3 | -133.5 | -214 | -197.2 | -203 | 22 |
| State and local governments; total financial assets | FA214090005 | 588.7 | 396.7 | 137 | 277 | 152.1 | 207.4 | 178.2 | 96.2 | 66.2 | 23 |
| State and local governments; checkable deposits and currency; asset | FA213020005 | 115.9 | 14.7 | 14.7 | -16.2 | -3.5 | 0.4 | -11.5 | 6.7 | 63.2 | 24 |
| State and local governments; total time and savings deposits; asset | FA213030000 | -30.8 | -12.4 | 3.7 | -12.4 | 27 | 4.2 | 45.8 | -28.8 | -6.3 | 25 |
| State and local governments; money market fund shares; asset | FA213034003 | 15.3 | 9.8 | 15.5 | 10.4 | 19.1 | 24.8 | 11.8 | 13.3 | 12 | 26 |
| State and local governments; security repurchase agreements; asset | FA212051003 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 27 |
| State and local governments; debt securities; asset | FA214022005 | 338.4 | 346.1 | 99 | 236.3 | 170.7 | 212.5 | 137.9 | 48.5 | -2.9 | 28 |
| State and local governments; commercial paper; asset | FA213069103 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 29 |
| State and local governments; Treasury securities, excluding SLGS; asset | FA213061103 | 390 | 309.9 | 94.3 | 185.4 | 154.6 | 183.2 | 113 | 64.2 | 16.8 | 30 |
| State and local governments; agency- and GSE-backed securities; asset | FA213061703 | -39.8 | 36.3 | 3 | 47.3 | 7.2 | 13.7 | 6.3 | -2.9 | -4.9 | 31 |
| State and local governments; municipal securities; asset | FA213062003 | 3.8 | 6.4 | -0.4 | 6.7 | 7.4 | 8.1 | 8.8 | -8.5 | -9.8 | 32 |
| State and local governments; corporate and foreign bonds; asset | FA213063003 | -19.5 | -10.5 | -2 | -7.2 | -2.6 | 3.5 | 5.8 | -8.2 | -9 | 33 |
| State and local governments; loans; asset | FA214023005 | 1.6 | -2.1 | -0.4 | 12.6 | -63.1 | 5.9 | 9.1 | 20.4 | -36.9 | 34 |
| State and local governments; total mortgages; asset | FA213065005 | 7.7 | 7.7 | 8 | 7.6 | 7.7 | 7.8 | 7.9 | 8.1 | 8.3 | 35 |
| State and local governments; State and local government series securities (MSPD); asset (2) | FA213069200 | -6.1 | -9.8 | -8.4 | 4.9 | -70.8 | -1.8 | 1.2 | 12.4 | -45.2 | 36 |
| State and local governments; corporate equities; asset | FA213064103 | -3.4 | -3.4 | -3.4 | -3.4 | -3.4 | -3.4 | -3.4 | -3.4 | -3.4 | 37 |
| State and local governments; mutual fund shares; asset | FA213064203 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 1.2 | 38 |
| State and local governments; trade receivables; asset | FA213070003 | 46 | 20.4 | 13.7 | 4 | 5.3 | -32.3 | 7.6 | 33.4 | 46 | 39 |
| State and local governments; taxes receivable; asset | FA213078005 | 29.4 | 11.5 | 5.4 | 12.7 | 14.7 | 2.3 | 7.1 | 10.5 | 1.7 | 40 |
| State and local governments; unidentified miscellaneous assets | FA213093003 | 65.1 | 0.9 | -22.5 | 22 | -26 | -18.3 | -37.4 | -15.8 | -18.4 | 41 |
| State and local governments; total liabilities | FA214190005 | 376.6 | 247.5 | 324 | 283.7 | 134.8 | 340.9 | 392.3 | 293.4 | 269.2 | 42 |
| State and local governments; municipal securities; liability | FA213162005 | 69.1 | -52.4 | 20.2 | -17 | -167.7 | 38.4 | 89.9 | -10.7 | -36.8 | 43 |
| State and local governments; short-term municipal securities; liability (3) | FA213162400 | -13.7 | -7.5 | 1.5 | 3 | -8.4 | -1.7 | 7.1 | 10.8 | -10.3 | 44 |
| State and local governments; long-term municipal securities; liability | FA213162200 | 82.7 | -44.9 | 18.7 | -20 | -159.3 | 40.1 | 82.8 | -21.5 | -26.6 | 45 |
| State and local governments; U.S. government loans; liability | FA213169203 | 0.5 | 0.7 | 1 | 0.6 | 1.5 | 1.1 | 0.8 | 0.5 | 1.5 | 46 |
| State and local governments; trade payables; liability | FA213170003 | 57.5 | 64.9 | 68.5 | 65.9 | 66.8 | 67.1 | 67.3 | 69.2 | 70.2 | 47 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (4) | FA223073045 | 249.6 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 234.3 | 48 |
| State and local governments; sector discrepancy | FA217005005 | -19.9 | 23.2 | -63.5 | 61 | -54.8 | 15.3 | -40.2 | -100.8 | -128.3 | 49 |
NOTES
- Table F.5, line 65.
- State and Local Government Series (SLGS) nonmarketable Treasury securities classified as loans.
- Debt with original maturity of 13 months or less.
- Included in miscellaneous liabilities.
Last Update: March 7, 2024