Connecticut Fiscal Statistics

StatisNostics/State Financials/Connecticut

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20122021

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State Revenue Analysis (Connecticut: 2012–2021)

Population: 3,594,362 → 3,565,287 (-0.8% change)

Overall Revenue Trends

Total Revenue▲ 51.5%

$26,203,638,000 (2012)→$39,707,157,000 (2021)

Per Capita Revenue▲ 52.8%

$7,290 (2012)→$11,137 (2021)

Fund Balances▲ 34%

$16,824,809,000 (2012)→$22,546,339,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 5.3%

Major Tax Revenue

Sales Tax▲ 39.7%

$3,758,881,000 (2012)→$5,252,683,000 (2021)

Utility Revenue

Solid Waste Charges▼ 45.7%

$132,043,000 (2012)→$71,765,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Local Intergovernmental Other▲ 3625.8%

$15,696,000→$584,794,000

Federal Intergovernmental Health & Hospitals▲ 1858.5%

$204,923,000→$4,013,331,000

Royalties▲ 538.6%

$389,000→$2,484,000

Declining/Slowest Growing Sources

Taxes Not Elsewhere Classified▼ 94.3%

$5,364,000→$307,000

Federal Intergovernmental Air Transportation▼ 77.2%

$14,439,000→$3,299,000

Local Intergovernmental Education▼ 76.6%

$990,000→$232,000

Revenue Forecast

Projected Revenue (Next Year)▲ 9.9%

Estimated: $43,652,098,340

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

Individual Income Tax28.1%

Total General Sales Taxes14.3%

Federal Intergovernmental Public Welfare14.3%

Other Selective Sales Taxes4.2%

Unemployment - Contribution3.3%

Higher Education Tuition Charges3.3%

Federal Intergovernmental Education2.8%

Interest Earnings2.4%

Corporation Net Income Tax2.4%

Federal Intergovernmental Highways2.3%

Motor Fuels Sales Tax1.9%

Tobacco Sales Tax1.6%

Federal Intergovernmental Other1.6%

Miscellaneous General Revenue Not Elsewhere Classified1.5%

Amusement Tax1.5%

All Other Not Elsewhere Classified Charges1.4%

Net Lottery Revenue1.4%

Public Utilities Tax1.3%

Hospital Charges1.2%

Higher Education Auxiliary Charges1.0%

Motor Vehicle License0.8%

Insurance Premium Tax0.8%

Federal Intergovernmental Health & Hospitals0.8%

Death & Gift Tax0.7%

Fines & Forfeits0.5%

Solid Waste Charges0.5%

Documentary & Stock Transfer Tax0.5%

Occupation & Business License Not Elsewhere Classified0.5%

Federal Intergovernmental Transit Utilities0.4%

Federal Intergovernmental Housing & Community Development0.4%

Donations From Private Sources0.3%

Federal Intergovernmental Other Natural Resources0.3%

Alcoholic Beverage Sales Tax0.2%

Air Transportation Charges0.2%

Motor Vehicle Operators License0.2%

Transit Utilities Revenue0.2%

Natural Resources Not Elsewhere Classified Charges0.1%

Workers Compensation - Other Contributions0.1%

Corporation License Tax0.1%

Parks & Recreation Charges0.1%

Federal Intergovernmental Employment Security Administration0.1%

Federal Intergovernmental Sewerage0.1%

Housing & Community Development Charges0.1%

Local Intergovernmental Other0.1%

Federal Intergovernmental Air Transportation0.1%

Education Other State Charges Not Elsewhere Classified0.0%

Alcoholic Beverage License Tax0.0%

Regular Highway Charges0.0%

Parimutuels Tax0.0%

Parking Facilities Charges0.0%

Rents0.0%

Taxes Not Elsewhere Classified0.0%

Hunting & Fishing License0.0%

Sale of Property0.0%

Other License Tax0.0%

Federal Intergovernmental Water Utilities0.0%

Local Intergovernmental Education0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Public Utility License Tax0.0%

Royalties0.0%

Water Transportation & Terminal Charges0.0%

Amusement License Tax0.0%

Toll Highway Charges0.0%

Severance Tax0.0%

Workers Compensation - Interest Earnings0.0%

2021 Revenue Sources

Individual Income Tax25.8%

Federal Intergovernmental Public Welfare15.2%

Total General Sales Taxes13.2%

Federal Intergovernmental Health & Hospitals10.1%

Corporation Net Income Tax6.6%

Other Selective Sales Taxes3.4%

Higher Education Tuition Charges2.7%

Federal Intergovernmental Education1.9%

Unemployment - Contribution1.8%

Interest Earnings1.6%

Federal Intergovernmental Highways1.5%

Local Intergovernmental Other1.5%

Hospital Charges1.4%

Net Lottery Revenue1.2%

Motor Fuels Sales Tax1.2%

All Other Not Elsewhere Classified Charges1.1%

Federal Intergovernmental Other1.1%

Documentary & Stock Transfer Tax1.0%

Miscellaneous General Revenue Not Elsewhere Classified0.9%

Tobacco Sales Tax0.8%

Death & Gift Tax0.7%

Public Utilities Tax0.6%

Motor Vehicle License0.6%

Amusement Tax0.6%

Insurance Premium Tax0.5%

Federal Intergovernmental Housing & Community Development0.4%

Federal Intergovernmental Transit Utilities0.4%

Higher Education Auxiliary Charges0.4%

Donations From Private Sources0.3%

Fines & Forfeits0.3%

Alcoholic Beverage Sales Tax0.2%

Solid Waste Charges0.2%

Occupation & Business License Not Elsewhere Classified0.1%

Motor Vehicle Operators License0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Transit Utilities Revenue0.1%

Federal Intergovernmental Other Natural Resources0.1%

Corporation License Tax0.1%

Parks & Recreation Charges0.1%

Workers Compensation - Other Contributions0.1%

Air Transportation Charges0.1%

Federal Intergovernmental Employment Security Administration0.1%

Regular Highway Charges0.0%

Housing & Community Development Charges0.0%

Parimutuels Tax0.0%

Alcoholic Beverage License Tax0.0%

Federal Intergovernmental Sewerage0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Federal Intergovernmental Water Utilities0.0%

Hunting & Fishing License0.0%

Other License Tax0.0%

Sale of Property0.0%

Federal Intergovernmental Air Transportation0.0%

Parking Facilities Charges0.0%

Royalties0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Unemployment - Interest Revenue0.0%

Taxes Not Elsewhere Classified0.0%

Local Intergovernmental Education0.0%

Amusement License Tax0.0%

Toll Highway Charges0.0%

Workers Compensation - Interest Earnings0.0%

Key Insights

1Total revenue increased by 51.5% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by -0.8%, while per-capita revenue changed by 52.8%.
3The state's fund balances increased by 34%, suggesting improved fiscal health.

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State Expense Analysis (Connecticut: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 39%

$9,429,276,000→$13,120,737,000

Per Capita Spending▲ 40%

$2,623→$3,680

Population Trends

Population Change▼ 0.8%

3,594,362 (2012)→3,565,287 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 21%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▼ 13%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 18%

$0 (2012)→$0 (2021)

General Expenses▲ 138%

$0 (2012)→$0 (2021)

Connecticut Key Insights

1General expenses increased dramatically by 138%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▲ 47%

$19,456,773,000 (2012)→$28,508,664,000 (2021)

Industrial Revenue Debt▲ 8%

$12,506,905,000 (2012)→$13,456,765,000 (2021)

Per Capita Debt▲ 48%

$5,413 (2012)→$7,996 (2021)

Population Trends

Population Change▼ 0.8%

3,594,362 (2012)→3,565,287 (2021)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2021)

Issued:$3,062,414,000

Retired:$2,652,041,000

Net Change:+$410,373,000

Debt Retirement Trend

$2,771,259,000 → $2,652,041,000▼ 4%

Key Insights

1The state's debt burden per resident grew substantially while population remained relatively flat.
2New debt issuance significantly increased the per-resident debt burden (up 48%).