STATE GOVERNMENT FINANCES
(Amounts are in thousands.  Per capita in dollars.)

                                                      Percent           Per
VERMONT                                      1995 Distribution       capita

Population (thousands)                        585           -             -
Total Revenue                           2,073,665       100.0%     3,544.73
  General revenue                       1,869,415        90.2%     3,195.58
    Intergovernmental revenue             633,266        30.5%     1,082.51
    Taxes                                 801,376        38.6%     1,369.87
      General sales                       173,644         8.4%       296.83
      Selective sales                     220,729        10.6%       377.31
      License taxes                        64,558         3.1%       110.36
      Individual income                   250,283        12.1%       427.83
      Corporation net income               48,274         2.3%        82.52
      Other taxes                          43,888         2.1%        75.02
    Current charges                       242,504        11.7%       414.54
    Miscellaneous general revenue         192,269         9.3%       328.66
  Utility revenue                               0         0.0%         0.00
  Liquor stores revenue                    27,953         1.3%        47.78
  Insurance trust revenue                 176,297         8.5%       301.36

Total Expenditure                       2,013,565       100.0%     3,441.99
  Intergovernmental expenditure           308,672        15.3%       527.64
  Direct expenditure                    1,704,893        84.7%     2,914.35
    Current operation                   1,258,915        62.5%     2,151.99
    Capital outlay                        113,745         5.6%       194.44
    Insurance benefits and repayments     131,906         6.6%       225.48
    Assistance and subsidies              100,070         5.0%       171.06
    Interest on debt                      100,257         5.0%       171.38
Exhibit:  Salaries and wages              385,549        19.1%       659.06

Total expenditure                       2,013,565       100.0%     3,441.99
  General expenditure                   1,854,226        92.1%     3,169.62
        Intergovernmental expenditure     308,672        15.3%       527.64
        Direct expenditure              1,545,554        76.8%     2,641.97
  General expenditure, by function:
      Education                           610,672        30.3%     1,043.88
      Public welfare                      510,788        25.4%       873.14
      Hospitals                             9,445         0.5%        16.15
      Health                               48,071         2.4%        82.17
      Highways                            157,005         7.8%       268.38
      Police protection                    27,078         1.3%        46.29
      Correction                           41,159         2.0%        70.36
      Natural resources                    54,308         2.7%        92.83
      Parks and recreation                  8,831         0.4%        15.10
      Governmental administration         111,600         5.5%       190.77
      Interest on general debt            100,257         5.0%       171.38
      Other and unallocable               175,012         8.7%       299.17
  Utility expenditure                       1,162         0.1%         1.99
  Liquor stores expenditure                26,271         1.3%        44.91
  Insurance trust expenditure             131,906         6.6%       225.48

Debt at end of fiscal year              1,667,649       100.0%     2,850.68

Cash and Security Holdings              2,584,566       100.0%     4,418.06