North Carolina Fiscal Statistics

StatisNostics/State Financials/North Carolina

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20122023

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State Revenue Analysis (North Carolina: 2012–2023)

Population: 9,748,181 → 10,551,162 (8.2% change)

Overall Revenue Trends

Total Revenue▲ 69.6%

$48,245,899,000 (2012)→$81,839,382,000 (2023)

Per Capita Revenue▲ 56.7%

$4,949 (2012)→$7,756 (2023)

Fund Balances▼ 100%

$18,813,373,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 5.7%

Major Tax Revenue

Sales Tax▲ 113.6%

$5,573,658,000 (2012)→$11,907,791,000 (2023)

Utility Revenue

Water Utilities▲ 335.5%

$361,000 (2012)→$1,572,000 (2023)

Solid Waste Charges▼ 34.9%

$607,000 (2012)→$395,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Hospital Charges▲ 4942.8%

$57,801,000→$2,914,764,000

Toll Highway Charges▲ 3008.8%

$2,960,000→$92,020,000

Air Transportation Charges▲ 1969.2%

$78,000→$1,614,000

Declining/Slowest Growing Sources

Death & Gift Tax▼ 100.0%

$58,323,000→$9,000

Public Utilities Tax▼ 99.9%

$381,934,000→$299,000

Local Intergovernmental Health & Hospitals▼ 98.5%

$4,447,000→$65,000

Revenue Forecast

Projected Revenue (Next Year)▲ 5.3%

Estimated: $86,159,655,500

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare24.7%

Individual Income Tax21.5%

Total General Sales Taxes11.6%

Federal Intergovernmental Education6.1%

Motor Fuels Sales Tax3.9%

Higher Education Tuition Charges2.9%

Higher Education Auxiliary Charges2.8%

Corporation Net Income Tax2.5%

Federal Intergovernmental Highways2.4%

Unemployment - Contribution2.1%

Miscellaneous General Revenue Not Elsewhere Classified1.7%

Federal Intergovernmental Other1.7%

Interest Earnings1.4%

Other Selective Sales Taxes1.3%

Motor Vehicle License1.2%

Donations From Private Sources1.2%

Corporation License Tax1.1%

Net Lottery Revenue1.1%

All Other Not Elsewhere Classified Charges1.0%

Insurance Premium Tax1.0%

Federal Intergovernmental Health & Hospitals0.9%

Public Utilities Tax0.8%

Alcoholic Beverage Sales Tax0.7%

Federal Intergovernmental Housing & Community Development0.6%

Tobacco Sales Tax0.6%

Fines & Forfeits0.5%

Occupation & Business License Not Elsewhere Classified0.4%

Motor Vehicle Operators License0.3%

Local Intergovernmental Public Welfare0.2%

Local Intergovernmental Education0.2%

Federal Intergovernmental Other Natural Resources0.2%

Federal Intergovernmental Employment Security Administration0.1%

Death & Gift Tax0.1%

Hospital Charges0.1%

Federal Intergovernmental Transit Utilities0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Local Intergovernmental Other0.1%

Documentary & Stock Transfer Tax0.1%

Water Transportation & Terminal Charges0.1%

Housing & Community Development Charges0.1%

Federal Intergovernmental Air Transportation0.1%

Rents0.1%

Federal Intergovernmental Sewerage0.1%

Federal Intergovernmental Water Utilities0.1%

Local Intergovernmental Highways0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Hunting & Fishing License0.0%

Alcoholic Beverage License Tax0.0%

Sale of Property0.0%

Amusement Tax0.0%

Parks & Recreation Charges0.0%

Regular Highway Charges0.0%

Other License Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Local Intergovernmental Health & Hospitals0.0%

Toll Highway Charges0.0%

Parking Facilities Charges0.0%

Severance Tax0.0%

Solid Waste Charges0.0%

Water Utilities Revenue0.0%

Air Transportation Charges0.0%

Transit Utilities Revenue0.0%

Local Intergovernmental Transit Utilities0.0%

2023 Revenue Breakdown

Federal Intergovernmental Public Welfare21.6%

Individual Income Tax20.6%

Total General Sales Taxes14.6%

Federal Intergovernmental Education5.1%

Hospital Charges3.6%

Motor Fuels Sales Tax2.9%

Federal Intergovernmental Health & Hospitals2.8%

Federal Intergovernmental Other2.6%

Higher Education Auxiliary Charges2.6%

Higher Education Tuition Charges2.5%

Corporation Net Income Tax2.0%

Federal Intergovernmental Highways1.9%

Net Lottery Revenue1.8%

Interest Earnings1.6%

Other Selective Sales Taxes1.6%

Insurance Premium Tax1.4%

Motor Vehicle License1.2%

Miscellaneous General Revenue Not Elsewhere Classified1.2%

Corporation License Tax1.2%

Donations From Private Sources1.0%

All Other Not Elsewhere Classified Charges0.9%

Unemployment - Contribution0.9%

Alcoholic Beverage Sales Tax0.7%

Federal Intergovernmental Housing & Community Development0.5%

Occupation & Business License Not Elsewhere Classified0.5%

Tobacco Sales Tax0.3%

Fines & Forfeits0.3%

Regular Highway Charges0.2%

Documentary & Stock Transfer Tax0.2%

Federal Intergovernmental Other Natural Resources0.2%

Motor Vehicle Operators License0.2%

Federal Intergovernmental Sewerage0.2%

Federal Intergovernmental Employment Security Administration0.1%

Toll Highway Charges0.1%

Local Intergovernmental Public Welfare0.1%

Housing & Community Development Charges0.1%

Water Transportation & Terminal Charges0.1%

Unemployment - Interest Revenue0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Local Intergovernmental Highways0.1%

Other License Tax0.1%

Hunting & Fishing License0.1%

Parks & Recreation Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Sale of Property0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Other0.0%

Public Utility License Tax0.0%

Local Intergovernmental Education0.0%

Parking Facilities Charges0.0%

Severance Tax0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Air Transportation Charges0.0%

Water Utilities Revenue0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Solid Waste Charges0.0%

Transit Utilities Revenue0.0%

Public Utilities Tax0.0%

Amusement License Tax0.0%

Local Intergovernmental Health & Hospitals0.0%

Death & Gift Tax0.0%

Key Insights

1Total revenue increased by 69.6% from 2012 to 2023, representing a significant change in the state's financial position.
2Utility revenue growth was exceptional, with water up 335.5%, suggesting infrastructure expansion or rate adjustments.
3Population changed by 8.2%, while per-capita revenue changed by 56.7%.
4The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (North Carolina: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 207%

$15,826,839,000→$48,578,625,000

Per Capita Spending▲ 184%

$1,624→$4,604

Population Trends

Population Change▲ 8.2%

9,748,181 (2012)→10,551,162 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 112%

$279,435,000 (2012)→$592,224,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 37%

$1,146,966,000 (2012)→$1,569,220,000 (2023)

Sewerage Operations▲ 499%

$773,000 (2012)→$4,631,000 (2023)

Administrative Expenses

Financial Administration▲ 652%

$312,466,000 (2012)→$2,348,522,000 (2023)

General Expenses▲ 8%

$743,173,000 (2012)→$803,156,000 (2023)

North Carolina Key Insights

1Police protection spending increased by 112%, significantly outpacing population growth of 8.2%
2Per capita expenditures grew by 184%, indicating substantial service expansion or cost increases not explained by population growth alone
3Financial Administration was the fastest growing major expense category at 652% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 65%

$7,757,092,000 (2012)→$12,806,157,000 (2023)

Industrial Revenue Debt▼ 100%

$10,351,946,000 (2012)→$0 (2023)

Per Capita Debt▲ 53%

$796 (2012)→$1,214 (2023)

Population Trends

Population Change▲ 8.2%

9,748,181 (2012)→10,551,162 (2023)

Debt Management

Most Recent Year (2023)

Issued:$466,540,000

Retired:$1,751,868,000

Net Change:$-1,285,328,000

Debt Retirement Trend

$691,883,000 → $1,751,868,000▲ 153%

🔄 Significant change in retirement strategy detected

Key Insights

1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
2There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward higher debt levels.