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: December 11, 2014
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S.8.a State and Local Governments
Billions of dollars
Description 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Line
State and local governments; gross value added (IMA) 1137.7 1191.7 1250.3 1318.5 1385.2 1419.4 1454.2 1471.4 1491.0 1524.8 1
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) 143.8 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 2
State and local governments; net value added (IMA) 993.9 1034.4 1080.0 1131.9 1185.0 1211.3 1241.5 1249.2 1259.1 1286.4 3
State and local governments; compensation of employees paid (IMA) 1000.6 1041.8 1091.1 1150.4 1207.1 1232.6 1261.3 1266.5 1275.3 1300.7 4
State and local governments; wages and salaries paid (IMA) 702.7 728.0 763.3 805.6 847.4 862.9 862.6 863.1 871.2 887.5 5
State and local governments; employers' social contributions paid (IMA) 297.9 313.7 327.8 344.9 359.7 369.7 398.7 403.5 404.1 413.2 6
State and local governments; operating surplus, net -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 7
State and local governments; net national income/balance of primary incomes, net (IMA) 728.0 804.2 868.3 910.7 901.6 811.0 829.5 864.6 872.4 906.2 8
State and local governments; operating surplus, net -6.7 -7.3 -11.1 -18.5 -22.0 -21.4 -19.8 -17.4 -16.2 -14.3 9
State and local governments; taxes on production and imports, receivable (IMA) 768.7 835.1 892.7 940.0 947.9 934.8 960.4 994.0 1017.0 1041.6 10
State and local governments; subsidies paid (with negative sign) (IMA) -0.4 -0.4 -0.4 -7.1 -3.0 -1.4 -1.6 -0.5 -0.5 -0.5 11
State and local governments; property income (received) (IMA) 76.8 88.6 107.2 117.9 105.7 87.8 82.6 79.2 78.6 79.7 12
State and local governments; interest received (IMA) 66.4 76.8 94.7 104.2 91.0 74.4 69.1 64.8 63.0 63.2 13
State and local governments; dividends received (IMA) 2.0 2.0 2.1 2.2 2.6 2.1 2.3 2.6 3.4 3.7 14
State and local governments; rents on land and natural resources received (IMA) 8.5 9.8 10.4 11.5 12.1 11.2 11.2 11.7 12.3 12.7 15
State and local governments; interest paid (IMA Q4) 110.5 111.8 120.1 121.5 127.0 188.8 192.1 190.7 206.6 200.3 16
State and local governments; net national income/balance of primary incomes, net (IMA) 728.0 804.2 868.3 910.7 901.6 811.0 829.5 864.6 872.4 906.2 17
State and local governments; current taxes on income, wealth, etc. received (IMA) 289.2 331.4 361.7 381.4 381.0 333.4 345.3 374.3 407.8 430.2 18
State and local governments; contributions for government social insurance received 24.7 24.6 21.5 18.9 18.7 18.6 18.1 18.2 17.7 17.7 19
State and local governments; social contributions paid 385.0 406.6 403.9 433.3 455.4 492.6 523.8 530.4 540.6 565.4 20
State and local governments; other current transfer received 422.4 436.4 438.9 460.9 477.8 566.1 612.0 582.1 556.2 570.8 21
State and local governments; disposable income, net (IMA) 1079.2 1190.0 1286.5 1338.6 1323.7 1236.4 1281.0 1308.9 1313.6 1359.4 22
State and local governments; consumption expenditures 1187.6 1256.6 1325.9 1411.4 1488.7 1508.4 1518.3 1524.8 1546.1 1584.5 23
State and local governments; net saving including net capital transfers paid (IMA) -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 24
State and local governments; net saving less net capital transfers paid (IMA) -60.4 -16.2 18.4 -13.4 -101.8 -204.2 -160.6 -142.1 -158.3 -153.5 25
State and local governments; net saving including net capital transfers paid (IMA) -108.4 -66.6 -39.4 -72.7 -165.1 -271.9 -237.3 -215.9 -232.6 -225.1 26
State and local governments; net capital transfers paid -48.0 -50.4 -57.8 -59.3 -63.2 -67.7 -76.7 -73.8 -74.2 -71.6 27
State and local governments; capital formation, net (IMA) 145.0 143.5 155.0 167.9 172.5 167.2 149.7 127.6 108.5 98.4 28
State and local governments; gross fixed investment 277.5 290.8 314.3 340.8 358.8 363.0 351.9 340.5 331.6 327.8 29
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) 143.8 157.3 170.3 186.6 200.2 208.2 212.7 222.2 231.8 238.4 30
State and local governments; acquisition of nonproduced nonfinancial assets (net) 11.3 10.0 11.0 13.6 13.8 12.3 10.6 9.2 8.7 9.0 31
State and local governments; net lending (+) or borrowing (-) (capital account) (IMA) -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 32
State and local governments; net lending (+) or borrowing (-) (capital account) (IMA) -205.4 -159.7 -136.6 -181.2 -274.3 -371.4 -310.3 -269.6 -266.9 -252.0 33
State and local governments, excluding employee retirement funds; total financial assets 172.4 253.9 205.8 240.4 -101.1 17.4 74.9 -12.9 99.2 17.9 34
State and local governments, excluding employee retirement funds; total currency and deposits; asset 4.4 18.7 22.5 32.4 26.1 29.5 -0.2 32.2 10.2 19.1 35
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset -3.5 15.8 5.5 -0.4 8.3 19.6 5.7 16.6 -9.4 6.7 36
State and local governments, excluding employee retirement funds; total time and savings deposits; asset 7.9 3.0 17.1 32.8 17.8 10.0 -5.9 15.6 19.6 12.4 37
State and local governments, excluding employee retirement funds; debt securities; asset 96.4 155.7 110.3 137.0 -90.5 -41.1 53.8 -49.8 45.1 -33.9 38
State and local governments, excluding employee retirement funds; commercial paper; asset 2.9 -0.1 -1.4 -2.2 -21.9 -39.0 13.2 -11.1 -5.9 -8.1 39
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset 43.3 107.3 58.4 77.8 -46.0 -16.9 7.8 -31.8 46.5 -14.5 40
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset 37.1 35.7 39.1 45.0 -17.7 10.3 23.7 -6.8 -2.1 -13.8 41
State and local governments, excluding employee retirement funds; municipal securities and loans; asset 1.1 1.2 1.4 1.7 0.4 1.0 1.4 0.4 0.5 0.2 42
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset 11.9 11.5 12.7 14.6 -5.4 3.5 7.8 -0.5 6.1 2.4 43
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset 22.2 20.3 21.9 25.4 -15.9 4.5 12.4 -1.2 16.3 8.3 44
State and local governments, excluding employee retirement funds; federal funds and security repurchase agreements; asset 7.2 5.7 5.7 6.4 -11.9 -4.1 -1.1 -3.4 6.8 4.2 45
State and local governments, excluding employee retirement funds; total mortgages; asset 15.0 14.6 16.1 19.0 -4.0 8.6 13.5 2.2 9.5 4.1 46
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) 21.6 21.5 23.8 27.6 -5.5 9.4 17.0 1.6 12.9 6.6 47
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset 12.8 13.6 15.4 18.0 2.8 10.0 14.1 3.7 8.0 4.7 48
State and local governments, excluding employee retirement funds; corporate equities; asset 5.4 4.4 4.5 5.1 -7.7 -2.2 -0.0 -2.5 3.2 1.3 49
State and local governments, excluding employee retirement funds; mutual fund shares; asset 3.5 3.5 3.9 4.5 -0.6 1.7 2.9 0.3 1.7 0.7 50
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) 27.9 37.7 27.4 18.1 -15.3 14.9 -8.1 4.3 14.8 17.7 51
State and local governments, excluding employee retirement funds; trade receivables; asset 8.5 17.4 8.9 7.8 -15.4 -4.6 13.1 2.3 4.5 8.4 52
State and local governments, excluding employee retirement funds; taxes receivable; asset 12.9 14.3 12.1 3.0 5.2 -5.8 1.0 2.1 2.0 3.2 53
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets 6.5 6.0 6.4 7.3 -5.2 25.3 -22.2 -0.1 8.2 6.2 54
State and local governments, excluding employee retirement funds; total liabilities 332.7 231.2 210.0 300.1 220.2 455.9 383.5 302.3 333.6 290.7 55
State and local governments, excluding employee retirement funds; municipal securities and loans; liability 178.5 141.1 100.3 146.0 17.1 112.2 68.7 -53.6 -5.7 -39.4 56
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability 22.2 -1.7 -8.2 16.8 4.6 7.8 -0.7 -10.6 3.8 -10.9 57
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability 156.3 142.8 108.5 129.2 12.5 104.4 69.3 -42.9 -9.4 -28.6 58
State and local governments, excluding employee retirement funds; U.S. government loans; liability 0.3 0.6 0.6 0.7 0.8 0.8 0.9 0.9 0.4 0.5 59
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset 124.0 57.6 74.8 116.6 163.7 304.0 275.5 316.6 300.1 289.9 60
State and local governments, excluding employee retirement funds; trade payables; liability 30.0 31.9 34.3 36.7 38.6 38.9 38.5 38.4 38.8 39.6 61
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account) -160.3 22.6 -4.2 -59.7 -321.4 -438.5 -308.6 -315.2 -234.4 -272.8 62
State and local governments, excluding employee retirement funds; total other volume changes (IMA) -697.2 215.7 324.2 231.5 -974.6 358.9 36.5 -45.3 358.9 676.7 63
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) 0.0 -10.7 0.0 0.0 0.0 0.0 0.0 0.0 -7.6 0.0 64
State and local governments, excluding employee retirement funds; other volume changes (IMA) -742.3 44.1 191.8 109.9 -927.6 426.1 34.8 0.2 334.0 697.5 65
State and local governments, excluding employee retirement funds; statistical discrepancy (IMA) -45.1 -182.4 -132.4 -121.5 47.0 67.2 -1.7 45.5 -32.5 20.8 66
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) 504.5 473.4 605.0 460.9 411.4 -105.1 175.7 392.7 227.5 225.3 67
State and local governments, excluding employee retirement funds; total residenital and nonresidential structures 501.0 472.2 602.7 457.9 403.0 -104.3 171.9 389.2 224.8 222.7 68
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis 2.6 0.4 1.1 0.6 6.6 -1.1 2.4 1.6 1.5 1.3 69
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis 0.9 0.8 1.1 2.4 1.8 0.3 1.4 1.9 1.2 1.3 70
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) 11.8 5.5 16.9 5.2 -61.1 33.5 21.6 2.0 18.6 38.9 71
State and local governments, excluding employee retirement funds; changes in net worth due to nominal holding gains/losses (IMA) 516.3 478.9 621.8 466.0 350.4 -71.7 197.3 394.7 246.1 264.2 72
State and local governments, excluding employee retirement funds; net worth (IMA) -241.3 678.4 964.4 684.1 -726.1 83.0 73.2 207.3 446.6 787.4 73
State and local governments, excluding employee retirement funds; total assets (does not include land) 7720.6 8576.2 9547.9 10408.1 10814.7 10911.6 11319.3 11817.2 12271.3 12641.2 74
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) 5662.8 6259.0 7008.0 7623.1 8193.3 8243.0 8557.5 9068.6 9388.3 9703.2 75
State and local governments, excluding employee retirement funds; total residenital and nonresidential structures 5388.1 5976.8 6715.1 7314.8 7863.3 7903.6 8207.7 8711.9 9026.8 9335.6 76
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis 203.3 206.9 212.7 221.5 236.4 240.9 245.4 246.5 246.5 247.6 77
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis 71.4 75.3 80.2 86.9 93.6 98.5 104.4 110.2 115.1 120.0 78
State and local governments, excluding employee retirement funds; total financial assets 2057.9 2317.2 2539.9 2785.0 2621.4 2668.6 2761.8 2748.6 2883.0 2938.1 79
State and local governments, excluding employee retirement funds; total currency and deposits; asset 216.1 234.8 257.4 289.8 315.9 345.4 345.2 377.4 406.7 425.8 80
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset 50.3 66.0 71.5 71.1 79.4 99.0 104.6 121.2 117.2 123.9 81
State and local governments, excluding employee retirement funds; total time and savings deposits; asset 165.8 168.8 185.9 218.6 236.5 246.4 240.6 256.2 289.5 301.9 82
State and local governments, excluding employee retirement funds; debt securities; asset 1061.8 1217.4 1327.7 1464.7 1374.1 1333.0 1386.9 1337.1 1382.2 1348.3 83
State and local governments, excluding employee retirement funds; commercial paper; asset 153.4 153.3 152.0 149.8 127.9 88.9 102.1 91.0 85.1 77.0 84
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset 405.0 512.3 570.7 648.5 602.6 585.6 593.5 561.7 608.2 593.6 85
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset 377.7 413.4 452.6 497.6 479.9 490.2 513.9 507.0 505.0 491.2 86
State and local governments, excluding employee retirement funds; municipal securities and loans; asset 5.7 6.9 8.3 10.0 10.4 11.5 12.9 13.2 13.7 13.9 87
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset 120.0 131.5 144.1 158.7 153.3 156.8 164.6 164.1 170.2 172.6 88
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset 268.6 288.9 310.8 335.7 318.1 319.1 328.5 325.0 339.3 346.5 89
State and local governments, excluding employee retirement funds; federal funds and security repurchase agreements; asset 124.3 130.0 135.7 142.1 130.2 126.1 125.0 121.6 128.4 132.6 90
State and local governments, excluding employee retirement funds; total mortgages; asset 144.3 158.9 175.0 193.6 187.9 193.0 203.5 203.4 210.9 214.0 91
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) 219.7 246.6 287.3 320.0 253.4 296.3 334.9 338.5 370.0 415.6 92
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset 76.3 89.9 105.3 123.3 126.1 136.1 150.2 154.0 162.0 166.7 93
State and local governments, excluding employee retirement funds; corporate equities; asset 107.6 116.0 132.9 141.7 91.0 111.8 126.3 125.2 140.7 167.7 94
State and local governments, excluding employee retirement funds; mutual fund shares; asset 35.8 40.7 49.1 55.0 36.3 48.5 58.4 59.3 67.3 81.2 95
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) 291.7 329.4 356.7 374.8 359.9 374.7 366.3 370.7 384.8 401.8 96
State and local governments, excluding employee retirement funds; trade receivables; asset 125.0 142.5 151.3 159.1 143.7 139.1 152.2 154.5 159.1 167.5 97
State and local governments, excluding employee retirement funds; taxes receivable; asset 88.0 102.3 114.4 117.4 123.0 117.1 117.8 120.0 121.3 123.8 98
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets 78.6 84.6 91.0 98.3 93.2 118.5 96.3 96.2 104.4 110.6 99
State and local governments, excluding employee retirement funds; total liabilities and net worth (IMA) 7720.6 8576.2 9547.9 10408.1 10814.7 10911.6 11319.3 11817.2 12271.3 12641.2 100
State and local governments, excluding employee retirement funds; total liabilities 3208.7 3385.9 3393.2 3569.4 4702.0 4715.8 5050.4 5341.0 5348.4 4931.0 101
State and local governments, excluding employee retirement funds; municipal securities and loans; liability 2438.2 2579.2 2679.6 2825.6 2842.7 2954.9 3023.6 2970.0 2964.3 2924.9 102
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability 44.2 42.5 34.3 51.2 55.8 63.6 63.0 52.3 56.1 45.3 103
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability 2393.9 2536.7 2645.2 2774.4 2786.9 2891.3 2960.6 2917.6 2908.2 2879.6 104
State and local governments, excluding employee retirement funds; U.S. government loans; liability 10.0 10.6 11.2 11.9 12.7 13.5 14.4 15.3 15.7 16.2 105
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset 310.5 314.0 186.2 178.9 1254.9 1116.9 1343.4 1648.3 1622.2 1204.1 106
State and local governments, excluding employee retirement funds; trade payables; liability 450.1 482.0 516.2 553.0 591.6 630.5 669.0 707.4 746.2 785.8 107
State and local governments, excluding employee retirement funds; net worth (IMA) 4511.9 5190.3 6154.7 6838.8 6112.7 6195.7 6268.9 6476.3 6922.9 7710.2 108

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