Connecticut Fiscal Statistics

StatisNostics/State Financials/Connecticut

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20122024

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State Revenue Analysis (Connecticut: 2012–2024)

Population: 3,594,362 → 3,626,205 (0.9% change)

Overall Revenue Trends

Total Revenue▲ 52.1%

$26,203,638,000 (2012)→$39,858,883,000 (2024)

Per Capita Revenue▲ 50.8%

$7,290 (2012)→$10,992 (2024)

Fund Balances▼ 100%

$16,824,809,000 (2012)→$0 (2024)

Revenue Volatility✓ Low

Avg. fluctuation: 4.9%

Major Tax Revenue

Sales Tax▲ 65.8%

$3,758,881,000 (2012)→$6,231,910,000 (2024)

Utility Revenue

Solid Waste Charges▼ 94.4%

$132,043,000 (2012)→$7,368,000 (2024)

Growth Analysis

Fastest Growing Revenue Sources

Workers Compensation - Interest Earnings▲ 5659.6%

$52,000→$2,995,000

Royalties▲ 835.5%

$389,000→$3,639,000

Federal Intergovernmental Health & Hospitals▲ 508.6%

$204,923,000→$1,247,095,000

Declining/Slowest Growing Sources

Federal Intergovernmental Air Transportation▼ 98.8%

$14,439,000→$172,000

Taxes Not Elsewhere Classified▼ 97.0%

$5,364,000→$160,000

Solid Waste Charges▼ 94.4%

$132,043,000→$7,368,000

Revenue Forecast

Projected Revenue (Next Year)▼ 0%

Estimated: $39,856,737,492

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%

2024 Revenue Breakdown

Individual Income Tax25.2%

Federal Intergovernmental Public Welfare18.2%

Total General Sales Taxes15.6%

Corporation Net Income Tax8.0%

Other Selective Sales Taxes3.6%

Federal Intergovernmental Health & Hospitals3.1%

Higher Education Tuition Charges3.0%

Federal Intergovernmental Education2.8%

Federal Intergovernmental Highways2.3%

Hospital Charges2.0%

Federal Intergovernmental Other2.0%

Unemployment - Contribution1.4%

Motor Fuels Sales Tax1.4%

Net Lottery Revenue1.2%

All Other Not Elsewhere Classified Charges1.1%

Interest Earnings0.9%

Public Utilities Tax0.8%

Miscellaneous General Revenue Not Elsewhere Classified0.8%

Higher Education Auxiliary Charges0.8%

Documentary & Stock Transfer Tax0.7%

Motor Vehicle License0.7%

Tobacco Sales Tax0.6%

Insurance Premium Tax0.6%

Federal Intergovernmental Housing & Community Development0.5%

Fines & Forfeits0.3%

Death & Gift Tax0.3%

Donations From Private Sources0.3%

Transit Utilities Revenue0.2%

Alcoholic Beverage Sales Tax0.2%

Motor Vehicle Operators License0.1%

Federal Intergovernmental Other Natural Resources0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Amusement Tax0.1%

Parks & Recreation Charges0.1%

Corporation License Tax0.1%

Air Transportation Charges0.1%

Federal Intergovernmental Employment Security Administration0.1%

Occupation & Business License Not Elsewhere Classified0.1%

Workers Compensation - Other Contributions0.1%

Federal Intergovernmental Sewerage0.1%

Regular Highway Charges0.0%

Housing & Community Development Charges0.0%

Local Intergovernmental Other0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Alcoholic Beverage License Tax0.0%

Parking Facilities Charges0.0%

Solid Waste Charges0.0%

Hunting & Fishing License0.0%

Other License Tax0.0%

Royalties0.0%

Sale of Property0.0%

Workers Compensation - Interest Earnings0.0%

Unemployment - Interest Revenue0.0%

Local Intergovernmental Education0.0%

Public Utility License Tax0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Toll Highway Charges0.0%

Amusement License Tax0.0%

Federal Intergovernmental Air Transportation0.0%

Taxes Not Elsewhere Classified0.0%

Key Insights

1Total revenue increased by 52.1% from 2012 to 2024, representing a significant change in the state's financial position.
2Population changed by 0.9%, while per-capita revenue changed by 50.8%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.
4Revenue has been relatively stable (avg. fluctuation ~4.9%).

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State Expense Analysis (Connecticut: 2012 - 2024)

Total Expenditure Trends

Operating Expenditures▲ 126%

$9,429,276,000→$21,279,808,000

Per Capita Spending▲ 124%

$2,623→$5,868

Population Trends

Population Change▲ 0.9%

3,594,362 (2012)→3,626,205 (2024)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 41%

$203,479,000 (2012)→$286,576,000 (2024)

Fire Protection▼ 0%

$0 (2012)→$0 (2024)

Infrastructure Expenses

Highways Maintenance▲ 25%

$576,908,000 (2012)→$720,782,000 (2024)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2024)

Administrative Expenses

Financial Administration▲ 58%

$369,130,000 (2012)→$583,930,000 (2024)

General Expenses▲ 656%

$568,587,000 (2012)→$4,301,024,000 (2024)

Connecticut Key Insights

1Per capita expenditures grew by 124%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 656%, which may indicate classification changes, new initiatives, or reporting adjustments

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State Debt Analysis (2012-2024)

Debt Trends

Total Long-Term Debt▲ 71%

$19,456,773,000 (2012)→$33,264,919,000 (2024)

Industrial Revenue Debt▼ 100%

$12,506,905,000 (2012)→$0 (2024)

Per Capita Debt▲ 69%

$5,413 (2012)→$9,173 (2024)

Population Trends

Population Change▲ 0.9%

3,594,362 (2012)→3,626,205 (2024)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2024)

Issued:$3,342,396,000

Retired:$3,457,784,000

Net Change:$-115,388,000

Debt Retirement Trend

$2,771,259,000 → $3,457,784,000▲ 25%

Key Insights

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