Financial Accounts of the United States - Z.1
F.107 State and local governments
Billions of dollars; quarterly figures are seasonally adjusted annual rates
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Current receipts, NIPA basis | FA216010105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 2 | Personal current taxes | FA216210001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 3 | Taxes on production and imports | FA216240001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 4 | Taxes on corporate income | FA216231001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 5 | Contributions for govt. social insurance | FA216601001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 6 | Income receipts on assets | FA216150105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 7 | Current transfer receipts | FA216403105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 8 | Current surplus of government enterprises | FA216402101 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 9 | Current expenditures, NIPA basis | FA216900005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 10 | Consumption expenditures | FA216901001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 11 | Govt. social benefit payments to persons | FA216404001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 12 | Other current transfer payments | FA216403001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 13 | Interest payments | FA216130001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 14 | Subsidies | FA216402001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 15 | Net saving, NIPA basis | FA216006005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 16 | + Consumption of fixed capital | FA216300001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 17 | - Net capital transfers paid1 | FA215440005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 18 | = Gross saving less net capital transfers paid | FA216000105 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 19 | Gross investment | FA215090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 20 | Fixed investment | FA215019001 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 21 | Nonproduced nonfinancial assets | FA215420003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 22 | Net lending (+) or net borrowing (-) | FA215000005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 23 | Net acquisition of financial assets | FA214090005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 24 | Checkable deposits and currency | FA213020005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 25 | Time and savings deposits | FA213030000 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 26 | Money market fund shares | FA213034003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 27 | Security repurchase agreements | FA212051003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 28 | Debt securities | FA214022005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 29 | Open market paper | FA213069103 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 30 | Treasury securities | FA213061103 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 31 | Agency- and GSE-backed securities | FA213061703 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 32 | Municipal securities | FA213062003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 33 | Corporate and foreign bonds | FA213063003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 34 | Loans | FA214023005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 35 | Mortgages | FA213065005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 36 | Other loans and advances2 | FA213069200 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 37 | Corporate equities | FA213064103 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 38 | Mutual fund shares | FA213064203 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 39 | Trade receivables | FA213070003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 40 | Taxes receivable | FA213078005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 41 | Miscellaneous assets | FA213093003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 42 | Net increase in liabilities | FA214190005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 43 | Debt securities (municipal securities) | FA213162005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 44 | Short-term3 | FA213162400 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 45 | Long-term | FA213162200 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 46 | Loans | FA214141005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 47 | Depository institution loans n.e.c. | FA213168003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 48 | Other loans and advances | FA213169203 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 49 | Trade payables | FA213170003 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 50 | Claims of pension fund on sponsor4 | FA223073045 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Line 51 | Discrepancy | FA217005005 | -- | -- | -- | -- | -- | -- | -- | -- | -- |
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 9, 2026