Connecticut Fiscal Statistics

StatisNostics/State Financials/Connecticut
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20122022
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State Revenue Analysis (Connecticut: 2012–2022)

Population: 3,594,362 → 3,557,006 (-1.0% change)

Overall Revenue Trends

Total Revenue▲ 51.6%
$26,203,638,000 (2012)→$39,733,489,000 (2022)
Per Capita Revenue▲ 53.2%
$7,290 (2012)→$11,170 (2022)
Fund Balances▼ 100%
$16,824,809,000 (2012)→$0 (2022)
Revenue Volatility✓ Low
Avg. fluctuation: 4.8%

Major Tax Revenue

Sales Tax▲ 38.2%
$3,758,881,000 (2012)→$5,193,413,000 (2022)

Utility Revenue

Solid Waste Charges▼ 38.9%
$132,043,000 (2012)→$80,709,000 (2022)

Growth Analysis

Fastest Growing Revenue Sources

Local Intergovernmental Other▲ 4124.7%
$15,696,000→$663,112,000
Royalties▲ 745.8%
$389,000→$3,290,000
Federal Intergovernmental Health & Hospitals▲ 722.5%
$204,923,000→$1,685,506,000

Declining/Slowest Growing Sources

Taxes Not Elsewhere Classified▼ 92.6%
$5,364,000→$396,000
Occupation & Business License Not Elsewhere Classified▼ 84.6%
$118,782,000→$18,334,000
Local Intergovernmental Education▼ 75.6%
$990,000→$242,000

Revenue Forecast

Projected Revenue (Next Year)▲ 9.1%
Estimated: $43,359,527,009
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

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%

2022 Revenue Breakdown

Individual Income Tax24.8%
Federal Intergovernmental Public Welfare17.5%
Total General Sales Taxes13.1%
Corporation Net Income Tax9.2%
Federal Intergovernmental Health & Hospitals4.2%
Other Selective Sales Taxes4.2%
Federal Intergovernmental Education3.0%
Higher Education Tuition Charges2.8%
Federal Intergovernmental Other1.9%
Unemployment - Contribution1.7%
Local Intergovernmental Other1.7%
Hospital Charges1.6%
Federal Intergovernmental Highways1.4%
All Other Not Elsewhere Classified Charges1.2%
Net Lottery Revenue1.2%
Motor Fuels Sales Tax1.2%
Documentary & Stock Transfer Tax0.8%
Tobacco Sales Tax0.7%
Interest Earnings0.7%
Miscellaneous General Revenue Not Elsewhere Classified0.7%
Higher Education Auxiliary Charges0.7%
Federal Intergovernmental Housing & Community Development0.6%
Motor Vehicle License0.6%
Public Utilities Tax0.6%
Death & Gift Tax0.6%
Insurance Premium Tax0.5%
Donations From Private Sources0.5%
Amusement Tax0.4%
Fines & Forfeits0.3%
Solid Waste Charges0.2%
Alcoholic Beverage Sales Tax0.2%
Federal Intergovernmental Other Natural Resources0.2%
Motor Vehicle Operators License0.2%
Transit Utilities Revenue0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Corporation License Tax0.1%
Parks & Recreation Charges0.1%
Air Transportation Charges0.1%
Federal Intergovernmental Employment Security Administration0.1%
Occupation & Business License Not Elsewhere Classified0.0%
Housing & Community Development Charges0.0%
Federal Intergovernmental Sewerage0.0%
Regular Highway Charges0.0%
Alcoholic Beverage License Tax0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Federal Intergovernmental Air Transportation0.0%
Parimutuels Tax0.0%
Parking Facilities Charges0.0%
Hunting & Fishing License0.0%
Other License Tax0.0%
Royalties0.0%
Sale of Property0.0%
Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%
Public Utility License Tax0.0%
Taxes Not Elsewhere Classified0.0%
Local Intergovernmental Education0.0%
Toll Highway Charges0.0%
Amusement License Tax0.0%

Key Insights

  1. 1Total revenue increased by 51.6% from 2012 to 2022, representing a significant change in the state's financial position.
  2. 2Population changed by -1.0%, while per-capita revenue changed by 53.2%.
  3. 3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.
  4. 4Revenue has been relatively stable (avg. fluctuation ~4.8%).
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State Expense Analysis (Connecticut: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 113%
$9,429,276,000→$20,077,646,000
Per Capita Spending▲ 115%
$2,623→$5,645

Population Trends

Population Change▼ 1%
3,594,362 (2012)→3,557,006 (2022)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 29%
$203,479,000 (2012)→$262,940,000 (2022)
Fire Protection▼ 0%
$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▼ 2%
$576,908,000 (2012)→$568,243,000 (2022)
Sewerage Operations▼ 0%
$0 (2012)→$0 (2022)

Administrative Expenses

Financial Administration▲ 77%
$369,130,000 (2012)→$652,045,000 (2022)
General Expenses▲ 745%
$568,587,000 (2012)→$4,805,559,000 (2022)

Connecticut Key Insights

  1. 1Per capita expenditures grew by 115%, indicating substantial service expansion or cost increases not explained by population growth alone
  2. 2General expenses increased dramatically by 745%, which may indicate classification changes, new initiatives, or reporting adjustments
  3. 3Financial Administration was the fastest growing major expense category at 77% increase
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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 70%
$19,456,773,000 (2012)→$33,095,934,000 (2022)
Industrial Revenue Debt▼ 100%
$12,506,905,000 (2012)→$0 (2022)
Per Capita Debt▲ 72%
$5,413 (2012)→$9,304 (2022)

Population Trends

Population Change▼ 1%
3,594,362 (2012)→3,557,006 (2022)
⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2022)

Issued:$3,267,518,000
Retired:$3,404,344,000
Net Change:$-136,826,000

Debt Retirement Trend

$2,771,259,000 → $3,404,344,000▲ 23%

Key Insights

  1. 1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
  2. 2The state's debt burden per resident grew substantially while population remained relatively flat.