S.8.a State and Local Governments (1)
Billions of dollars
Description Series code 2011 2012 2013 2014 2015 2016 2017 2018 Line
State and local governments; gross value added (IMA) FA206902505 1443.0 1463.0 1526.1 1573.5 1626.8 1663.2 1708.1 1774.3 1
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) FA206300001 222.2 232.0 238.8 246.3 251.4 256.6 266.1 279.6 2
State and local governments; net value added (IMA) FA206902605 1220.7 1231.0 1287.3 1327.1 1375.4 1406.6 1442.0 1494.8 3
State and local governments; compensation of employees paid (IMA) FA206025001 1233.8 1238.7 1293.2 1331.0 1377.4 1407.6 1445.5 1498.7 4
State and local governments; wages and salaries paid (IMA) FA206020001 863.2 870.7 887.6 912.9 945.2 971.7 1003.9 1045.2 5
State and local governments; employers' social contributions paid (IMA) FA206401005 370.7 368.0 405.6 418.1 432.3 435.9 441.6 453.6 6
State and local governments; operating surplus, net FA206402101 -13.1 -7.6 -5.9 -3.9 -2.0 -1.0 -3.4 -4.0 7
State and local governments; net national income/balance of primary incomes, net (IMA) FA206140005 798.5 813.6 868.2 921.3 949.0 979.1 1035.2 1090.3 8
State and local governments; operating surplus, net FA206402101 -13.1 -7.6 -5.9 -3.9 -2.0 -1.0 -3.4 -4.0 9
State and local governments; taxes on production and imports, receivable (IMA) FA206240001 995.1 1021.0 1063.2 1104.5 1136.8 1176.3 1235.8 1281.0 10
State and local governments; subsidies paid (with negative sign) (IMA) FA206402015 -0.5 -0.5 -0.5 -0.5 -0.5 -0.5 -0.6 -0.6 11
State and local governments; property income (received) FA206150105 82.7 81.8 82.4 84.3 84.5 86.1 89.3 91.4 12
State and local governments; interest received (IMA) FA206130101 67.1 65.3 65.2 66.4 67.3 69.3 72.0 73.6 13
State and local governments; dividends received (IMA) FA206121101 3.4 4.1 4.7 5.3 5.6 5.6 5.9 6.1 14
State and local governments; rents on land and natural resources received (IMA) FA206112101 12.2 12.5 12.5 12.7 11.6 11.1 11.4 11.7 15
State and local governments; interest paid (IMA) FA206130001 265.7 281.1 271.1 263.2 269.7 281.7 285.8 277.5 16
State and local governments; net national income/balance of primary incomes, net (IMA) FA206140005 798.5 813.6 868.2 921.3 949.0 979.1 1035.2 1090.3 17
State and local governments; current taxes on income, wealth, etc. received (IMA) FA206220005 371.3 393.8 427.4 437.4 463.3 463.0 487.1 515.8 18
State and local governments; contributions for government social insurance received FA206601001 17.9 17.2 17.7 18.7 19.2 20.1 20.8 22.2 19
State and local governments; social contributions paid FA206404001 530.7 540.8 564.4 617.5 665.5 693.6 712.2 736.6 20
State and local governments; other current transfer received FA206403105 576.5 550.1 560.8 616.4 673.6 687.4 685.6 716.6 21
State and local governments; other current transfer payments to the rest of the world FA206403001 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 22
State and local governments; disposable income, net (IMA) FA206012005 1233.4 1233.9 1309.7 1376.2 1439.7 1456.1 1516.5 1608.2 23
State and local governments; consumption expenditures FA206901001 1508.5 1516.7 1575.1 1614.2 1660.0 1702.8 1764.6 1847.4 24
State and local governments; net saving including net capital transfers paid FA206006005 -275.1 -282.8 -265.4 -238.0 -220.3 -246.8 -248.1 -239.2 25
State and local governments; net saving less net capital transfers paid FA206006305 -201.0 -208.4 -193.8 -167.4 -151.2 -174.4 -175.9 -165.9 26
State and local governments; net saving including net capital transfers paid FA206006005 -275.1 -282.8 -265.4 -238.0 -220.3 -246.8 -248.1 -239.2 27
State and local governments; net capital transfers paid FA205440005 -74.1 -74.4 -71.6 -70.6 -69.1 -72.4 -72.2 -73.3 28
State and local governments; capital formation, net (IMA) FA205050905 130.2 112.7 102.4 103.0 116.5 126.4 125.7 131.7 29
State and local governments; gross fixed investment (NIPA basis) FA205019001 341.0 333.7 330.8 338.8 355.8 369.7 378.0 396.8 30
State and local governments; consumption of fixed capital, equipment, software, and structures, current cost basis (NIPA basis) FA206300001 222.2 232.0 238.8 246.3 251.4 256.6 266.1 279.6 31
State and local governments; acquisition of nonproduced nonfinancial assets (net) FA205420003 11.5 10.9 10.4 10.6 12.1 13.3 13.7 14.5 32
State and local governments; net lending (+) or borrowing (-) (capital account) FA205000905 -331.2 -321.1 -296.1 -270.4 -267.7 -300.8 -301.6 -297.6 33
State and local governments; net lending (+) or borrowing (-) (capital account) FA205000905 -331.2 -321.1 -296.1 -270.4 -267.7 -300.8 -301.6 -297.6 34
State and local governments, excluding employee retirement funds; total financial assets FA214090005 -26.1 -9.2 58.6 36.1 24.9 174.9 58.2 -121.9 35
State and local governments, excluding employee retirement funds; total currency and deposits; asset FA214000005 34.7 2.5 22.0 26.9 3.5 11.7 22.4 1.9 36
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset FA213020005 16.9 -15.0 2.9 14.5 -11.4 4.1 7.9 -6.4 37
State and local governments, excluding employee retirement funds; total time and savings deposits; asset FA213030005 17.8 17.5 19.1 12.4 14.9 7.7 14.5 8.2 38
State and local governments, excluding employee retirement funds; debt securities; asset FA214022005 -59.6 -22.5 -6.8 -15.8 -9.0 93.5 10.0 -92.2 39
State and local governments, excluding employee retirement funds; commercial paper; asset FA213069103 -12.3 -10.7 -5.9 -9.3 -4.5 0.8 0.7 -5.5 40
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset FA213061105 -33.0 28.6 1.7 22.1 25.9 63.9 -11.9 -39.3 41
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset (2) FA213061703 -12.8 -36.8 -9.2 -28.3 -34.9 18.0 19.3 -31.5 42
State and local governments, excluding employee retirement funds; municipal securities; asset FA213062003 0.3 -0.3 0.5 -0.0 0.3 0.8 0.1 -1.2 43
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset FA213063003 -1.8 -3.3 6.2 -0.4 4.2 10.1 1.7 -14.7 44
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset FA214035005 -3.5 -1.9 16.0 2.3 11.6 20.8 3.9 -29.6 45
State and local governments, excluding employee retirement funds; security repurchase agreements; asset FA212051003 -4.6 -0.3 6.9 2.0 5.6 8.0 1.4 -11.6 46
State and local governments, excluding employee retirement funds; total mortgages; asset FA213065005 1.1 -1.6 9.1 0.3 6.0 12.9 2.5 -18.0 47
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) FA213081005 -3.0 -4.9 4.2 -2.0 3.2 13.5 1.7 -14.0 48
State and local governments, excluding employee retirement funds; money market fund shares; asset FA213034003 0.4 -2.2 -0.8 -1.7 -0.2 5.4 0.3 -2.1 49
State and local governments, excluding employee retirement funds; corporate equities; asset FA213064103 -3.3 -1.8 3.3 -0.2 2.2 5.4 0.9 -7.8 50
State and local governments, excluding employee retirement funds; mutual fund shares; asset FA213064203 -0.1 -0.9 1.7 -0.1 1.1 2.8 0.5 -4.0 51
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) FA213096005 5.3 17.6 23.2 24.7 15.6 35.2 20.2 12.0 52
State and local governments, excluding employee retirement funds; trade receivables; asset FA213070003 5.5 5.5 9.4 11.0 0.6 17.5 10.8 15.6 53
State and local governments, excluding employee retirement funds; taxes receivable; asset FA213078005 0.3 7.3 3.2 7.1 5.1 10.5 8.2 9.4 54
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets FA213093003 -0.5 4.7 10.6 6.6 9.8 7.2 1.3 -13.1 55
State and local governments, excluding employee retirement funds; total liabilities FA214190005 305.3 245.9 331.4 212.0 224.9 323.4 254.6 146.7 56
State and local governments, excluding employee retirement funds; municipal securities; liability FA213162005 -38.3 1.3 -53.3 -39.0 10.6 32.6 -1.7 -52.2 57
State and local governments, excluding employee retirement funds; short-term municipal securities; liability FA213162400 -10.6 3.8 -10.9 -6.4 -5.9 -2.7 4.8 3.0 58
State and local governments, excluding employee retirement funds; long-term municipal securities; liability FA213162200 -27.7 -2.5 -42.4 -32.6 16.6 35.4 -6.5 -55.3 59
State and local governments, excluding employee retirement funds; U.S. government loans; liability FA213169203 0.9 0.4 0.5 0.4 0.3 0.9 0.4 1.1 60
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FA223073045 304.4 205.9 345.4 210.8 172.7 246.7 210.6 149.8 61
State and local governments, excluding employee retirement funds; trade payables; liability FA213170003 38.3 38.3 38.8 39.8 41.3 43.2 45.3 48.1 62
State and local governments, excluding employee retirement funds; net lending (+) or borrowing (-) (financial account) FA215000005 -331.4 -255.2 -272.9 -175.9 -200.0 -148.6 -196.4 -268.6 63
State and local governments, excluding employee retirement funds; total other volume changes (IMA) FV218090185 55.1 121.0 -674.3 -53.2 -15.4 85.6 40.0 -46.7 64
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) FV212010095 0.0 -7.4 0.0 0.0 0.0 0.0 -2.1 -0.2 65
State and local governments, excluding employee retirement funds; other volume changes (IMA) FV218090085 55.3 62.4 -697.6 -147.7 -83.0 -66.6 -63.0 -75.5 66
State and local governments, excluding employee retirement funds; statistical discrepancy (IMA) (3) FU217005045 0.2 -66.0 -23.3 -94.4 -67.7 -152.2 -105.2 -29.0 67
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) FR212010095 391.1 230.5 250.4 159.4 85.7 212.4 341.9 479.6 68
State and local governments, excluding employee retirement funds; total residential and nonresidential structures FR215015605 385.2 227.0 246.7 156.1 86.1 210.0 337.7 471.7 69
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis FR215013265 4.2 2.1 1.8 3.1 0.6 0.7 2.2 5.1 70
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis FR215013765 1.7 1.3 1.9 0.3 -1.0 1.7 2.0 2.7 71
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) FR213081005 -2.8 24.5 54.8 22.9 -5.5 26.1 57.4 -26.9 72
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FR223073045 42.3 -279.9 -498.7 -157.7 109.9 -152.6 -463.1 218.4 73
State and local governments, excluding employee retirement funds; changes in net worth due to nominal holding gains/losses (IMA) FR218200005 345.9 535.0 804.0 340.1 -29.6 391.0 862.4 234.3 74
State and local governments, excluding employee retirement funds; net worth (IMA) FC212090095 200.1 447.5 -64.1 119.5 -196.2 302.3 726.6 21.7 75
State and local governments, excluding employee retirement funds; total assets (does not include land) FL212000095 11856.8 12213.5 12667.8 12977.8 13186.4 13711.8 14278.0 14725.5 76
State and local governments, excluding employee retirement funds; nonfinancial assets (does not include land) (4) LM212010095 9071.2 9396.0 9738.4 9990.2 10180.3 10505.7 10957.4 11553.9 77
State and local governments, excluding employee retirement funds; total residential and nonresidential structures LM215015605 8723.5 9043.9 9380.1 9626.6 9813.3 10130.0 10570.0 11150.1 78
State and local governments, excluding employee retirement funds; nonresidential equipment, current cost basis LM215013265 241.7 242.4 243.7 245.6 246.1 249.1 255.0 264.2 79
State and local governments, excluding employee retirement funds; nonresidential intellectual property products, current cost basis LM215013765 106.1 109.7 114.6 118.0 120.9 126.5 132.3 139.7 80
State and local governments, excluding employee retirement funds; total financial assets FL214090005 2785.5 2817.4 2929.4 2987.6 3006.1 3206.1 3320.6 3171.6 81
State and local governments, excluding employee retirement funds; total currency and deposits; asset FL214000005 395.1 416.7 438.7 465.6 469.1 480.9 503.3 505.2 82
State and local governments, excluding employee retirement funds; checkable deposits and currency; asset FL213020005 101.9 92.3 95.2 109.7 98.3 102.4 110.3 104.0 83
State and local governments, excluding employee retirement funds; total time and savings deposits; asset FL213030005 293.2 324.5 343.6 355.9 370.8 378.5 393.0 401.2 84
State and local governments, excluding employee retirement funds; debt securities; asset FL214022005 1454.1 1431.6 1424.8 1409.0 1400.0 1493.6 1503.5 1411.3 85
State and local governments, excluding employee retirement funds; commercial paper; asset FL213069103 103.3 92.5 86.7 77.4 72.9 73.7 74.3 68.8 86
State and local governments, excluding employee retirement funds; Treasury securities, including SLGS; asset FL213061105 602.2 630.8 632.4 654.5 680.4 744.2 732.3 693.0 87
State and local governments, excluding employee retirement funds; agency- and GSE-backed securities; asset (2) FL213061703 554.4 517.6 508.4 480.1 445.2 463.3 482.6 451.1 88
State and local governments, excluding employee retirement funds; municipal securities; asset FL213062003 14.5 14.2 14.7 14.7 15.0 15.8 16.0 14.8 89
State and local governments, excluding employee retirement funds; corporate and foreign bonds; asset FL213063003 179.8 176.5 182.6 182.3 186.5 196.5 198.3 183.6 90
State and local governments, excluding employee retirement funds; total loans including security repurchase agreements; asset FL214035005 356.1 351.6 366.2 367.7 378.5 398.9 402.5 372.6 91
State and local governments, excluding employee retirement funds; security repurchase agreements; asset FL212051003 133.2 132.9 139.8 141.8 147.4 155.3 156.7 145.1 92
State and local governments, excluding employee retirement funds; total mortgages; asset FL213065005 222.9 218.8 226.4 225.9 231.1 243.6 245.8 227.6 93
State and local governments, excluding employee retirement funds; equity and investment fund shares; asset (IMA) FL213081005 208.2 227.8 286.8 307.7 305.5 345.1 404.1 363.3 94
State and local governments, excluding employee retirement funds; money market fund shares; asset FL213034003 21.1 18.9 18.1 16.4 16.2 21.6 21.9 19.8 95
State and local governments, excluding employee retirement funds; corporate equities; asset LM213064103 127.7 143.6 191.6 211.2 210.1 237.3 283.2 255.6 96
State and local governments, excluding employee retirement funds; mutual fund shares; asset LM213064203 59.4 65.3 77.2 80.2 79.2 86.2 99.1 88.0 97
State and local governments, excluding employee retirement funds; other accounts receivable; asset (IMA) FL213096005 372.1 389.6 412.8 437.5 453.1 487.7 507.2 519.1 98
State and local governments, excluding employee retirement funds; trade receivables; asset FL213070003 157.2 162.7 172.1 183.2 183.8 201.3 212.1 227.7 99
State and local governments, excluding employee retirement funds; taxes receivable; asset FL213078005 112.4 119.7 122.9 130.0 135.1 145.0 152.5 161.8 100
State and local governments, excluding employee retirement funds; unidentified miscellaneous assets FL213093003 102.5 107.2 117.8 124.4 134.2 141.4 142.7 129.6 101
State and local governments, excluding employee retirement funds; total liabilities and net worth (IMA) FL212100005 11856.8 12213.5 12667.8 12977.8 13186.4 13711.8 14278.0 14725.5 102
State and local governments, excluding employee retirement funds; total liabilities FL214190005 7007.3 6916.4 7434.8 7625.4 8030.2 8253.4 8093.0 8518.7 103
State and local governments, excluding employee retirement funds; municipal securities; liability FL213162005 3153.1 3154.4 3101.1 3062.1 3072.7 3105.3 3103.6 3051.4 104
State and local governments, excluding employee retirement funds; short-term municipal securities; liability FL213162400 52.4 56.2 45.3 38.9 33.0 30.2 35.0 38.1 105
State and local governments, excluding employee retirement funds; long-term municipal securities; liability FL213162200 3100.6 3098.1 3055.8 3023.2 3039.7 3075.1 3068.6 3013.3 106
State and local governments, excluding employee retirement funds; U.S. government loans; liability FL213169203 15.3 15.7 16.2 16.6 16.9 17.8 18.2 19.3 107
State and local government employee defined benefit retirement funds; claims of pension fund on sponsor; asset FL223073045 3131.9 3001.0 3533.4 3722.7 4075.3 4221.7 4017.4 4446.2 108
State and local governments, excluding employee retirement funds; trade payables; liability FL213170003 707.1 745.4 784.2 824.0 865.3 908.5 953.8 1001.8 109
State and local governments, excluding employee retirement funds; net worth (IMA) FL212090095 4849.5 5297.0 5232.9 5352.4 5156.2 5458.5 6185.1 6206.8 110

NOTES

  1. The state and local government sector excludes state and local government employee retirement funds.
  2. Government-sponsored enterprises (GSEs) consist of Federal Home Loan Banks, Fannie Mae, Freddie Mac, Federal Agricultural Mortgage Corporation, Farm Credit System, the Financing Corporation, and the Resolution Funding Corporation, and they included the Student Loan Marketing Association until it was fully privatized in 2004:Q4.
  3. The statistical discrepancy is the difference between net lending or net borrowing derived in the capital account and the same concept derived in the financial account. The discrepancy reflects differences in source data, timing of recorded transactions, and other statistical differences between the capital and financial accounts.
  4. Excludes land and nonproduced nonfinancial assets.
Last Update: December 12, 2019