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: March 6, 2014
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S.8.a State and Local Governments
Billions of dollars; quarterly figures are seasonally adjusted annual rates
Description 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Line
State and local governments; gross value added (IMA) 1077.2 1137.7 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1468.0 1491.9 1
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) 134.5 143.8 157.3 170.3 186.6 200.2 208.2 212.7 221.7 231.4 2
State and local governments; net value added (IMA) 942.6 993.9 1034.4 1080.0 1131.9 1185.0 1211.3 1241.5 1246.3 1260.6 3
State and local governments; compensation of employees paid (IMA) 945.4 1000.6 1041.8 1091.1 1150.4 1207.1 1232.6 1261.3 1262.8 1274.8 4
State and local governments; wages and salaries paid (IMA) 678.5 702.7 728.0 763.3 805.6 847.4 862.9 862.6 862.8 869.3 5
State and local governments; employers' social contributions paid (IMA) 266.9 297.9 313.7 327.8 344.9 359.7 369.7 398.7 400.0 405.5 6
State and local governments; operating surplus, net -2.8 -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -16.5 -14.3 7
State and local governments; net national income/balance of primary incomes, net (IMA) 673.5 728.0 804.2 868.3 910.7 901.6 811.0 829.5 858.5 857.7 8
State and local governments; operating surplus, net -2.8 -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -16.5 -14.3 9
State and local governments; taxes on production and imports, receivable (IMA) 717.8 768.7 835.1 892.7 940.0 947.9 934.8 960.4 988.5 1004.9 10
State and local governments; subsidies paid (with negative sign) (IMA) -0.1 -0.4 -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 -0.5 11
State and local governments; property income (received) (IMA) 73.8 76.8 88.6 107.2 117.9 105.7 87.8 82.6 80.0 78.5 12
State and local governments; interest received (IMA) 64.5 66.4 76.8 94.7 104.2 91.0 74.4 69.1 66.3 64.2 13
State and local governments; dividends received (IMA) 1.7 2.0 2.0 2.1 2.2 2.6 2.1 2.3 2.3 2.4 14
State and local governments; rents on land and natural resources received (IMA) 7.6 8.5 9.8 10.4 11.5 12.1 11.2 11.2 11.4 11.9 15
State and local governments; interest paid (IMA Q4) 115.2 110.5 111.8 120.1 121.5 127.0 188.8 192.1 192.9 211.0 16
State and local governments; net national income/balance of primary incomes, net (IMA) 673.5 728.0 804.2 868.3 910.7 901.6 811.0 829.5 858.5 857.7 17
State and local governments; current taxes on income, wealth, etc. received (IMA) 260.8 289.2 331.4 361.7 381.4 381.0 333.4 345.3 377.7 400.2 18
State and local governments; contributions for government social insurance received 19.9 24.7 24.6 21.5 18.9 18.7 18.6 18.1 18.3 17.5 19
State and local governments; social contributions paid 353.6 385.0 406.6 403.9 433.3 455.4 492.6 523.8 532.0 544.3 20
State and local governments; other current transfer received 405.0 422.4 436.4 438.9 460.9 477.8 566.1 612.0 581.8 552.6 21
State and local governments; disposable income, net (IMA) 1005.7 1079.2 1190.0 1286.5 1338.6 1323.7 1236.4 1281.0 1304.3 1283.7 22
State and local governments; consumption expenditures 1127.1 1187.6 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1517.4 1536.4 23
State and local governments; net saving including net capital transfers paid (IMA) -121.4 -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -213.1 -252.7 24
State and local governments; net saving less net capital transfers paid (IMA) -69.5 -60.4 -16.2 18.4 -13.4 -101.8 -204.2 -160.6 -139.2 -178.6 25
State and local governments; net saving including net capital transfers paid (IMA) -121.4 -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -213.1 -252.7 26
State and local governments; net capital transfers paid -52.0 -48.0 -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.9 -74.1 27
State and local governments; capital formation, net (IMA) 145.8 145.0 143.5 155.0 167.9 172.5 167.2 149.7 125.7 113.8 28
State and local governments; gross fixed investment 268.9 277.5 290.8 314.3 340.8 358.8 363.0 351.9 337.2 334.9 29
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) 134.5 143.8 157.3 170.3 186.6 200.2 208.2 212.7 221.7 231.4 30
State and local governments; acquisition of nonproduced nonfinancial assets (net) 11.4 11.3 10.0 11.0 13.6 13.8 12.3 10.6 10.1 10.2 31
State and local governments; net lending (+) or borrowing (-) (capital account) (IMA) -215.2 -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -264.8 -292.4 32
State and local governments; net lending (+) or borrowing (-) (capital account) (IMA) -215.2 -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -264.8 -292.4 33
State and local governments, excluding employee retirement funds; total financial assets 46.3 171.2 254.1 205.1 237.9 -103.4 10.8 66.1 -56.6 -77.0 34
State and local governments, excluding employee retirement funds; total currency and deposits; asset 27.3 4.2 19.0 22.3 33.0 27.3 28.4 -1.3 31.1 11.3 35
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset 7.0 -3.5 15.8 5.4 -0.2 8.5 19.2 5.6 16.6 -8.9 36
State and local governments, excluding employee retirement funds; total time and savings deposits; asset 20.3 7.7 3.2 16.9 33.3 18.8 9.3 -6.9 14.4 20.3 37
State and local governments, excluding employee retirement funds; debt securities; asset 22.8 95.7 155.6 109.9 135.3 -91.6 -42.3 50.8 -72.9 -57.6 38
State and local governments, excluding employee retirement funds; commercial paper; asset -0.7 2.7 -0.1 -1.4 -2.4 -22.0 -39.0 13.0 -10.8 -5.4 39
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset 7.1 43.1 107.3 58.3 77.3 -46.3 -17.4 6.8 -45.5 -12.7 40
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset 12.0 36.8 35.7 39.0 44.3 -18.2 9.7 22.4 -12.7 -29.4 41
State and local governments, excluding employee retirement funds; municipal securities and loans; asset 0.4 1.1 1.2 1.4 1.6 0.4 1.0 1.4 0.1 -0.8 42
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset 3.9 11.9 11.5 12.6 14.3 -5.6 3.3 7.4 -4.0 -9.4 43
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset 6.6 22.0 20.3 21.8 24.5 -18.0 0.7 8.6 -11.0 -18.6 44
State and local governments, excluding employee retirement funds; federal funds and security repurchase agreements; asset 1.7 7.1 5.7 5.7 6.2 -12.0 -4.2 -1.4 -6.5 -6.9 45
State and local governments, excluding employee retirement funds; total mortgages; asset 5.0 14.9 14.6 16.1 18.3 -5.9 4.9 10.0 -4.5 -11.7 46
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) -4.7 21.5 21.5 23.8 27.2 -5.8 9.1 16.3 -5.1 -16.4 47
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset 4.8 12.8 13.6 15.4 17.8 2.7 9.8 13.7 -0.1 -8.8 48
State and local governments, excluding employee retirement funds; corporate equities; asset -7.9 5.3 4.4 4.5 4.9 -7.8 -2.3 -0.3 -4.3 -5.0 49
State and local governments, excluding employee retirement funds; mutual fund shares; asset -1.6 3.4 3.5 3.9 4.4 -0.6 1.7 2.8 -0.7 -2.6 50
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) -5.8 27.8 37.7 27.4 17.9 -15.4 14.8 -8.3 1.3 4.3 51
State and local governments, excluding employee retirement funds; trade receivables; asset -1.9 8.5 17.4 8.9 7.8 -15.4 -4.6 13.1 2.3 8.2 52
State and local governments, excluding employee retirement funds; taxes receivable; asset 0.8 12.9 14.3 12.1 3.0 5.2 -5.8 1.1 2.2 1.5 53
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets -4.7 6.4 6.0 6.4 7.2 -5.2 25.2 -22.5 -3.2 -5.5 54
State and local governments, excluding employee retirement funds; total liabilities 268.1 329.0 230.7 213.9 306.5 233.0 445.0 377.3 272.7 184.8 55
State and local governments, excluding employee retirement funds; municipal securities and loans; liability 120.5 178.5 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 56
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability 10.4 22.2 -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 57
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability 110.1 156.3 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 58
State and local governments, excluding employee retirement funds; U.S. government loans; liability 0.1 0.3 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 59
State and local government employee retirement funds; claims of pension fund on sponsor; asset 118.8 120.2 57.1 78.7 123.1 176.5 293.0 269.3 287.0 151.0 60
State and local governments, excluding employee retirement funds; trade payables; liability 28.8 30.0 31.9 34.3 36.7 38.6 38.9 38.5 38.4 39.1 61
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account) -221.8 -157.8 23.4 -8.7 -68.6 -336.4 -434.2 -311.2 -329.4 -261.8 62
State and local governments, excluding employee retirement funds; total other volume changes (IMA) 338.6 -698.5 215.9 318.9 221.5 -983.9 362.3 39.9 -54.3 326.1 63
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) 0.0 0.0 -10.7 0.0 0.0 0.0 0.0 0.0 0.0 -7.6 64
State and local governments, excluding employee retirement funds; other volume changes (IMA) 345.2 -746.1 43.5 191.0 108.9 -921.8 425.2 40.8 10.3 303.1 65
State and local governments, excluding employee retirement funds; statistical discrepancy (IMA) 6.6 -47.6 -183.1 -127.9 -112.7 62.1 62.9 0.9 64.5 -30.5 66
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) 91.5 504.5 473.4 605.0 460.9 411.4 -105.2 175.7 392.5 225.4 67
State and local governments, excluding employee retirement funds; total residenital and nonresidential structures 91.5 501.0 472.2 602.7 457.9 403.0 -104.3 171.9 386.1 225.3 68
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis -0.6 2.6 0.4 1.1 0.6 6.6 -1.1 2.4 4.6 -1.3 69
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis 0.6 0.9 0.8 1.1 2.4 1.8 0.3 1.4 1.9 1.3 70
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) 29.0 11.8 5.4 16.9 5.1 -61.0 33.4 21.6 1.7 18.0 71
State and local governments, excluding employee retirement funds; changes in net worth due to nominal holding gains/losses (IMA) 120.5 516.3 478.9 621.8 466.0 350.5 -71.8 197.3 394.3 243.4 72
State and local governments, excluding employee retirement funds; net worth (IMA) 389.7 -242.6 678.6 959.1 674.2 -735.3 86.4 76.6 200.8 390.9 73
State and local governments, excluding employee retirement funds; total assets (does not include land) 6899.9 7721.2 8576.9 9547.9 10406.1 10812.3 10906.0 11307.8 11760.6 12041.6 74
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) 5024.4 5662.8 6259.0 7008.0 7623.1 8193.3 8243.0 8557.5 9065.2 9386.3 75
State and local governments, excluding employee retirement funds; total residenital and nonresidential structures 4760.4 5388.1 5976.8 6715.1 7314.8 7863.3 7903.6 8207.7 8703.7 9020.8 76
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis 196.6 203.3 206.9 212.7 221.5 236.4 240.9 245.4 250.8 249.8 77
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis 67.5 71.4 75.3 80.2 86.9 93.6 98.5 104.4 110.7 115.7 78
State and local governments, excluding employee retirement funds; total financial assets 1875.5 2058.4 2317.9 2539.9 2783.0 2619.0 2663.0 2750.3 2695.4 2655.3 79
State and local governments, excluding employee retirement funds; total currency and deposits; asset 212.8 217.0 236.1 258.4 291.4 318.8 347.2 345.9 377.0 407.4 80
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset 53.8 50.4 66.2 71.6 71.4 79.9 99.1 104.6 121.3 117.7 81
State and local governments, excluding employee retirement funds; total time and savings deposits; asset 159.0 166.7 169.9 186.8 220.0 238.9 248.1 241.3 255.7 289.8 82
State and local governments, excluding employee retirement funds; debt securities; asset 965.8 1061.5 1217.1 1327.0 1462.3 1370.7 1328.3 1379.2 1306.3 1248.7 83
State and local governments, excluding employee retirement funds; commercial paper; asset 150.6 153.4 153.2 151.9 149.5 127.5 88.5 101.4 90.6 85.3 84
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset 361.8 404.9 512.2 570.5 647.8 601.5 584.1 590.9 545.4 532.7 85
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset 340.8 377.6 413.3 452.3 496.6 478.5 488.2 510.6 497.9 468.5 86
State and local governments, excluding employee retirement funds; municipal securities and loans; asset 4.5 5.7 6.9 8.3 10.0 10.4 11.4 12.8 12.9 12.1 87
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset 108.1 119.9 131.4 144.0 158.4 152.8 156.1 163.5 159.6 150.1 88
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset 246.6 268.5 288.8 310.6 335.1 317.1 317.8 326.4 315.4 296.8 89
State and local governments, excluding employee retirement funds; federal funds and security repurchase agreements; asset 117.2 124.3 130.0 135.7 141.8 129.8 125.5 124.2 117.6 110.7 90
State and local governments, excluding employee retirement funds; total mortgages; asset 129.3 144.2 158.9 174.9 193.2 187.3 192.3 202.2 197.8 186.1 91
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) 186.5 219.7 246.6 287.2 319.6 252.8 295.3 333.2 329.8 331.4 92
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset 63.5 76.3 89.9 105.2 123.1 125.8 135.6 149.3 149.2 140.4 93
State and local governments, excluding employee retirement funds; corporate equities; asset 93.5 107.6 116.1 132.9 141.6 90.9 111.5 125.8 122.6 129.5 94
State and local governments, excluding employee retirement funds; mutual fund shares; asset 29.5 35.8 40.7 49.1 54.9 36.2 48.3 58.2 58.0 61.5 95
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) 263.8 291.6 329.3 356.7 374.6 359.6 374.3 365.6 366.9 371.0 96
State and local governments, excluding employee retirement funds; trade receivables; asset 116.6 125.0 142.5 151.3 159.1 143.7 139.1 152.2 154.5 162.7 97
State and local governments, excluding employee retirement funds; taxes receivable; asset 75.1 88.0 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 98
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets 72.2 78.6 84.5 90.9 98.1 92.9 118.1 95.6 92.4 87.0 99
State and local governments, excluding employee retirement funds; total liabilities and net worth (IMA) 6899.9 7721.2 8576.9 9547.9 10406.1 10812.3 10906.0 11307.8 11760.6 12041.6 100
State and local governments, excluding employee retirement funds; total liabilities 2144.9 3208.7 3385.9 3397.8 3581.9 4723.3 4730.6 5055.9 5307.8 5198.0 101
State and local governments, excluding employee retirement funds; municipal securities and loans; liability 1558.8 2438.2 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 102
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability 106.1 44.2 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 103
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability 1452.7 2393.9 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 104
State and local governments, excluding employee retirement funds; U.S. government loans; liability 9.7 10.0 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 105
State and local government employee retirement funds; claims of pension fund on sponsor; asset 156.3 310.5 314.0 190.8 191.4 1276.3 1131.7 1348.9 1615.1 1471.5 106
State and local governments, excluding employee retirement funds; trade payables; liability 420.1 450.1 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.5 107
State and local governments, excluding employee retirement funds; net worth (IMA) 4755.0 4512.4 5191.0 6150.1 6824.2 6089.0 6175.4 6252.0 6452.8 6843.7 108

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