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 | 2020 | 2021 | 2022 | 2023 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| State and local governments; current receipts, NIPA basis | FA216010105 | 3078 | 3577.9 | 3662.4 | 3627.1 | 3670.3 | 3584.3 | 3587.6 | 3666.2 | 3680.1 | 1 |
| State and local governments; personal current taxes | FA216210001 | 503 | 594 | 632.9 | 570.2 | 582.7 | 528.8 | 576.6 | 592.6 | 564.8 | 2 |
| State and local governments; taxes on production and imports, receivable (IMA) | FA216240001 | 1365.2 | 1493.3 | 1616 | 1659.3 | 1654.1 | 1646.2 | 1659.2 | 1677.6 | 1683.8 | 3 |
| State and local governments; taxes on corporate income (accrual basis) | FA216231001 | 72.9 | 110.9 | 158.6 | 159.4 | 172.5 | 150.7 | 148.7 | 165.7 | 164.9 | 4 |
| State and local governments; contributions for government social insurance received | FA216601001 | 20 | 22.2 | 22.5 | 21.9 | 21.5 | 21.4 | 21.9 | 22.8 | 24.3 | 5 |
| State and local governments; property income (received) | FA216150105 | 94.8 | 93.8 | 97.6 | 100.3 | 99.8 | 100.6 | 100.1 | 100.6 | 100.2 | 6 |
| State and local governments; other current transfer received | FA216403105 | 1029.3 | 1277 | 1138 | 1133.6 | 1154.7 | 1154.8 | 1100.3 | 1124.7 | 1160.1 | 7 |
| State and local governments; operating surplus, net | FA216402101 | -7.1 | -13.3 | -3.2 | -17.5 | -14.9 | -18 | -19 | -17.9 | -18 | 8 |
| State and local governments; current expenditures | FA216900005 | 3129.9 | 3334.6 | 3602.1 | 3777.2 | 3733.7 | 3769 | 3800.8 | 3805.2 | 3888.7 | 9 |
| State and local governments; consumption expenditures | FA216901001 | 2019.7 | 2149.9 | 2341.1 | 2423.5 | 2399.1 | 2388.3 | 2443.9 | 2462.6 | 2501.1 | 10 |
| State and local governments; social contributions paid | FA216404001 | 815.7 | 900.7 | 1012.3 | 1061.5 | 1055.7 | 1087.5 | 1057.6 | 1045.2 | 1100.2 | 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 | 293.9 | 280.9 | 248 | 291.5 | 278.2 | 292.5 | 298.6 | 296.7 | 286.6 | 13 |
| State and local governments; subsidies paid | FA216402001 | 0.6 | 3.1 | 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 | -51.9 | 243.4 | 60.4 | -150.1 | -63.4 | -184.7 | -213.2 | -139.1 | -208.7 | 15 |
| State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) | FA216300001 | 308.4 | 333 | 371.5 | 393.2 | 389.7 | 391.7 | 394.4 | 397.1 | 400.8 | 16 |
| State and local governments; net capital transfers paid (1) | FA215440005 | -83.8 | -82.9 | -229.8 | -95.5 | -89 | -95.7 | -99.7 | -97.7 | -99.1 | 17 |
| State and local governments; gross saving less net capital transfers paid | FA216000105 | 340.3 | 659.3 | 661.6 | 338.6 | 415.4 | 302.6 | 280.9 | 355.7 | 291.3 | 18 |
| State and local governments; gross investment | FA215090005 | 408.1 | 681.1 | 649.3 | 364.8 | 393.1 | 334.3 | 372.4 | 359.2 | 327.4 | 19 |
| State and local governments; gross fixed investment (NIPA basis) | FA215019001 | 451.7 | 448.8 | 470.2 | 549.9 | 514.2 | 537.2 | 559 | 589.3 | 599.1 | 20 |
| State and local governments; acquisition of nonproduced nonfinancial assets (net) | FA215420003 | 17.4 | 18.3 | 19.1 | 19.8 | 19.5 | 19.7 | 19.8 | 20 | 20.2 | 21 |
| State and local governments; net lending (+) or borrowing (-) (financial account) | FA215000005 | -61 | 214 | 160 | -204.9 | -140.5 | -222.6 | -206.4 | -250 | -291.9 | 22 |
| State and local governments; total financial assets | FA214090005 | 347.9 | 588.7 | 407.3 | 118.4 | 199.6 | 169.3 | 86.5 | 18.3 | 111.7 | 23 |
| State and local governments; checkable deposits and currency; asset | FA213020005 | 90.8 | 115.9 | 14.7 | 15.1 | 0.5 | -10.3 | 7 | 63.4 | 15.5 | 24 |
| State and local governments; total time and savings deposits; asset | FA213030000 | -9.5 | -30.8 | -12.4 | 3.8 | 4.3 | 45.8 | -28.8 | -6 | 38.9 | 25 |
| State and local governments; money market fund shares; asset | FA213034003 | 13.7 | 15.3 | 9.8 | 6.8 | 17.2 | 3.4 | 4.2 | 2.3 | 3.3 | 26 |
| State and local governments; security repurchase agreements; asset | FA212051003 | 15.7 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 27 |
| State and local governments; debt securities; asset | FA214022005 | 181.7 | 338.4 | 346.1 | 99 | 212.5 | 137.9 | 48.5 | -2.9 | 26.5 | 28 |
| State and local governments; commercial paper; asset | FA213069103 | -0.4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 29 |
| State and local governments; Treasury securities, excluding SLGS; asset | FA213061103 | 253.3 | 390 | 309.9 | 94.3 | 183.2 | 113 | 64.2 | 16.8 | 19.8 | 30 |
| State and local governments; agency- and GSE-backed securities; asset | FA213061703 | -71.4 | -39.8 | 36.3 | 3 | 13.7 | 6.3 | -2.9 | -4.9 | -2.4 | 31 |
| State and local governments; municipal securities; asset | FA213062003 | 1.5 | 3.8 | 6.4 | -0.4 | 8.1 | 8.8 | -8.5 | -9.8 | 7.6 | 32 |
| State and local governments; corporate and foreign bonds; asset | FA213063003 | -1.2 | -19.5 | -10.5 | -2 | 3.5 | 5.8 | -8.2 | -9 | -2.5 | 33 |
| State and local governments; loans; asset | FA214023005 | 43 | 1.6 | -2.1 | -0.4 | 5.9 | 9.1 | 20.5 | -36.9 | 13.6 | 34 |
| State and local governments; total mortgages; asset | FA213065005 | 5 | 7.7 | 7.7 | 8 | 7.8 | 7.9 | 8.1 | 8.3 | 8.5 | 35 |
| State and local governments; State and local government series securities (MSPD); asset (2) | FA213069200 | 38 | -6.1 | -9.8 | -8.4 | -1.8 | 1.2 | 12.4 | -45.2 | 5.1 | 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 | -12.8 | 46 | 31.1 | -2.2 | -32.5 | 5.8 | 34.7 | -17 | -14.7 | 39 |
| State and local governments; taxes receivable; asset | FA213078005 | 9.4 | 29.4 | 11.5 | 6 | 2.3 | 7.1 | 8.4 | 6.1 | 1.7 | 40 |
| State and local governments; unidentified miscellaneous assets | FA213093003 | 18.1 | 65.1 | 0.9 | -17.5 | -18.3 | -37.4 | -15.8 | 1.6 | 19 | 41 |
| State and local governments; total liabilities | FA214190005 | 408.9 | 374.6 | 247.3 | 323.3 | 340.1 | 391.9 | 292.9 | 268.3 | 403.7 | 42 |
| State and local governments; municipal securities; liability | FA213162005 | 92.9 | 68.5 | -51.4 | 20.7 | 38.7 | 90.7 | -10 | -36.8 | 97.8 | 43 |
| State and local governments; short-term municipal securities; liability (3) | FA213162400 | 1.7 | -13.7 | -7.5 | 1.4 | -1.7 | 6.8 | 10.9 | -10.3 | 5.7 | 44 |
| State and local governments; long-term municipal securities; liability | FA213162200 | 91.1 | 82.1 | -44 | 19.2 | 40.4 | 83.9 | -20.9 | -26.5 | 92.1 | 45 |
| State and local governments; U.S. government loans; liability | FA213169203 | 1 | 0.5 | 0.7 | 1 | 1.1 | 0.8 | 0.5 | 1.5 | 1.2 | 46 |
| State and local governments; trade payables; liability | FA213170003 | 53.4 | 57.5 | 64.9 | 68.5 | 67.1 | 67.3 | 69.2 | 70.5 | 71.5 | 47 |
| State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset (4) | FA223073045 | 261.6 | 248.2 | 233.2 | 233.1 | 233.1 | 233.1 | 233.1 | 233.1 | 233.1 | 48 |
| State and local governments; sector discrepancy | FA217005005 | -67.8 | -21.9 | 12.3 | -26.1 | 22.3 | -31.7 | -91.6 | -3.5 | -36.1 | 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: June 7, 2024