FRB: Z.1 Release--F.107--State and Local Governments--March 12, 2015

F.107 State and Local Governments 1
Billions of dollars; quarterly figures are seasonally adjusted annual rates

Description	2010	2011	2012	2013	2014	2013 Q3	2013 Q4	2014 Q1	2014 Q2	2014 Q3	2014 Q4	Line
State and local governments; current receipts, NIPA basis	1998.5	2030.5	2061.2	2125.6	2205.6	2134.2	2135.9	2157.0	2193.8	2233.9	2237.6	1
State and local governments; personal current taxes	297.6	324.1	354.7	375.0	368.4	366.0	368.8	371.5	359.1	366.5	376.6	2
State and local governments; taxes on production and imports, receivable (IMA)	960.4	994.0	1017.0	1041.6	1069.2	1046.2	1052.2	1052.5	1064.6	1077.4	1082.2	3
State and local governments; taxes on corporate income (accrual basis)	47.7	50.2	53.2	55.3	57.2	55.4	56.1	55.9	56.8	57.8	58.2	4
State and local governments; contributions for government social insurance received	18.1	18.2	17.7	17.7	17.6	17.7	17.7	17.7	17.7	17.6	17.5	5
State and local governments; property income (received)	82.6	79.2	78.6	79.7	80.9	80.0	80.3	80.5	80.9	81.0	81.1	6
State and local governments; other current transfer received	612.0	582.1	556.2	570.8	626.8	583.2	574.9	593.1	629.1	648.3	636.8	7
State and local governments; operating surplus, net	-19.8	-17.4	-16.2	-14.3	-14.5	-14.1	-14.1	-14.1	-14.3	-14.7	-14.9	8
State and local governments; current expenditures	2235.8	2246.4	2293.8	2350.7	2431.3	2364.1	2367.5	2397.9	2420.9	2450.7	2455.9	9
State and local governments; consumption expenditures	1518.3	1524.8	1546.1	1584.5	1620.5	1590.2	1594.9	1607.4	1616.6	1628.5	1629.5	10
State and local governments; social contributions paid	523.8	530.4	540.6	565.4	615.6	574.5	573.3	592.5	607.8	627.7	634.4	11
State and local governments; interest paid (IMA)	192.1	190.7	206.6	200.3	194.8	198.8	198.8	197.5	196.1	193.9	191.6	12
State and local governments; subsidies paid	1.6	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	0.5	13
State and local governments; net saving including net capital transfers paid	-237.3	-215.9	-232.6	-225.1	-225.8	-229.9	-231.6	-240.9	-227.1	-216.8	-218.3	14
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis)	212.7	222.2	231.8	238.4	245.5	239.3	241.4	243.1	244.7	246.5	247.7	15
State and local governments; net capital transfers paid	-76.7	-73.8	-74.2	-71.6	-71.6	-75.2	-70.0	-70.3	-72.2	-76.7	-67.3	16
State and local governments; gross saving less net capital transfers paid	52.2	80.1	73.5	84.9	91.4	84.6	79.8	72.5	89.7	106.5	96.7	17
State and local governments; gross investment	60.4	13.2	79.3	64.0	88.4	7.1	65.5	46.2	120.2	65.5	121.6	18
State and local governments; gross fixed investment	351.9	340.5	331.6	327.8	336.2	330.5	331.6	323.6	336.1	339.4	345.8	19
State and local governments; acquisition of nonproduced nonfinancial assets (net)	10.6	9.2	8.7	9.0	8.3	9.0	8.9	8.6	8.4	8.2	8.0	20
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account)	-302.0	-336.6	-261.1	-272.8	-256.1	-332.4	-275.0	-286.0	-224.3	-282.1	-232.2	21
State and local governments, excluding employee retirement funds; total financial assets	81.5	-34.3	72.5	17.8	49.0	-85.8	-14.1	123.4	-35.1	-44.7	152.4	22
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset	5.7	16.6	-9.4	6.7	17.1	24.1	1.9	9.9	2.6	17.3	38.8	23
State and local governments, excluding employee retirement funds; total time and savings deposits; asset	-5.9	15.6	19.6	12.4	20.7	29.1	11.6	47.9	-11.2	25.4	20.7	24
State and local governments, excluding employee retirement funds; money market mutual fund shares; asset	14.7	1.9	5.7	4.6	2.5	-2.2	1.9	11.9	-3.6	-5.4	7.0	25
State and local governments, excluding employee retirement funds; security repurchase agreements; asset	-0.7	-4.9	5.0	4.1	2.4	-1.3	2.0	10.0	-2.4	-3.8	6.0	26
State and local governments, excluding employee retirement funds; credit market instruments; asset	72.2	-64.0	34.4	-29.7	-11.2	-146.6	-47.2	27.8	-49.9	-74.5	52.0	27
State and local governments, excluding employee retirement funds; commercial paper; asset	13.5	-12.2	-7.0	-8.0	-9.1	-11.5	-9.4	-4.7	-11.9	-12.5	-7.3	28
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset	9.2	-36.6	40.1	-15.0	17.0	-90.4	-15.5	1.0	13.4	-1.7	55.4	29
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset	25.5	-12.9	-9.1	-13.4	-20.1	-34.6	-22.0	7.7	-38.0	-42.6	-7.7	30
State and local governments, excluding employee retirement funds; municipal securities and loans; asset	1.4	0.2	0.3	0.2	0.0	-0.4	-0.0	0.8	-0.5	-0.6	0.4	31
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset	8.4	-2.4	3.7	2.4	0.2	-4.8	-0.4	10.0	-6.1	-7.9	4.8	32
State and local governments, excluding employee retirement funds; total mortgages; asset	14.2	-0.2	6.5	4.1	0.9	-4.9	0.3	13.0	-6.9	-9.2	6.5	33
State and local governments, excluding employee retirement funds; corporate equities; asset	0.3	-3.5	2.0	1.3	0.1	-2.5	-0.2	5.3	-3.3	-4.2	2.5	34
State and local governments, excluding employee retirement funds; mutual fund shares; asset	3.1	-0.3	1.0	0.7	0.0	-1.3	-0.1	2.7	-1.7	-2.2	1.3	35
State and local governments, excluding employee retirement funds; trade receivables; asset	13.1	2.3	4.5	8.5	6.7	9.6	5.2	2.0	12.2	5.5	7.3	36
State and local governments, excluding employee retirement funds; taxes receivable; asset	1.0	3.1	3.0	3.2	5.8	3.6	6.5	-5.1	21.6	-2.3	9.1	37
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets	-21.9	-1.2	6.7	6.1	4.7	1.6	4.3	11.0	0.6	-0.6	7.8	38
State and local governments, excluding employee retirement funds; total liabilities	383.5	302.3	333.6	290.7	305.1	246.6	260.9	409.4	189.1	237.4	384.6	39
State and local governments, excluding employee retirement funds; credit market instruments; liability	69.5	-52.7	-5.3	-38.9	-13.7	-109.4	-98.5	-38.8	35.7	-83.7	32.2	40
State and local governments, excluding employee retirement funds; municipal securities and loans; liability	68.7	-53.6	-5.7	-39.4	-14.0	-109.9	-99.1	-39.0	35.2	-84.0	31.7	41
State and local governments, excluding employee retirement funds; short-term municipal securities and loans; liability	-0.7	-10.6	3.8	-10.9	-6.7	-17.8	-18.1	-5.0	16.0	-33.5	-4.1	42
State and local governments, excluding employee retirement funds; long-term municipal securities and loans; liability	69.3	-42.9	-9.4	-28.6	-7.4	-92.0	-80.9	-34.0	19.2	-50.5	35.9	43
State and local governments, excluding employee retirement funds; U.S. government loans; liability	0.9	0.9	0.4	0.5	0.4	0.5	0.6	0.2	0.5	0.3	0.4	44
State and local governments, excluding employee retirement funds; trade payables; liability	38.5	38.4	38.8	39.6	40.8	39.9	40.0	40.0	40.7	41.1	41.2	45
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset	275.5	316.6	300.1	289.9	278.0	316.2	319.3	408.2	112.7	280.0	311.2	46
State and local governments, excluding employee retirement funds; sector discrepancy	-8.3	66.9	-5.8	20.9	3.0	77.5	14.3	26.3	-30.4	41.0	-24.9	47

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