North Carolina Fiscal Statistics

StatisNostics/State Financials/North Carolina

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20122021

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State Revenue Analysis (North Carolina: 2012–2021)

Population: 9,748,181 → 10,488,084 (7.6% change)

Overall Revenue Trends

Total Revenue▲ 54%

$48,245,899,000 (2012)→$74,295,796,000 (2021)

Per Capita Revenue▲ 43.1%

$4,949 (2012)→$7,084 (2021)

Fund Balances▲ 112.2%

$18,813,373,000 (2012)→$39,912,961,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 5.2%

Major Tax Revenue

Sales Tax▲ 74.3%

$5,573,658,000 (2012)→$9,717,598,000 (2021)

Utility Revenue

Water Utilities▼ 15.2%

$361,000 (2012)→$306,000 (2021)

Solid Waste Charges▼ 55.8%

$607,000 (2012)→$268,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Hospital Charges▲ 4056.0%

$57,801,000→$2,402,222,000

Toll Highway Charges▲ 2048.7%

$2,960,000→$63,602,000

Air Transportation Charges▲ 1116.7%

$78,000→$949,000

Declining/Slowest Growing Sources

Death & Gift Tax▼ 99.9%

$58,323,000→$35,000

Public Utilities Tax▼ 99.9%

$381,934,000→$233,000

Amusement Tax▼ 99.9%

$13,855,000→$16,000

Revenue Forecast

Projected Revenue (Next Year)▲ 11.9%

Estimated: $83,138,704,148

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

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%

2021 Revenue Sources

Individual Income Tax21.4%

Federal Intergovernmental Public Welfare20.4%

Total General Sales Taxes13.1%

Federal Intergovernmental Health & Hospitals5.5%

Federal Intergovernmental Education4.2%

Federal Intergovernmental Other4.1%

Hospital Charges3.2%

Motor Fuels Sales Tax2.8%

Higher Education Tuition Charges2.5%

Higher Education Auxiliary Charges2.1%

Miscellaneous General Revenue Not Elsewhere Classified2.1%

Corporation Net Income Tax2.0%

Federal Intergovernmental Highways2.0%

Other Selective Sales Taxes1.6%

Net Lottery Revenue1.4%

Motor Vehicle License1.3%

Corporation License Tax1.3%

Donations From Private Sources1.2%

Insurance Premium Tax1.0%

All Other Not Elsewhere Classified Charges0.9%

Alcoholic Beverage Sales Tax0.7%

Interest Earnings0.7%

Occupation & Business License Not Elsewhere Classified0.5%

Unemployment - Contribution0.5%

Tobacco Sales Tax0.4%

Federal Intergovernmental Housing & Community Development0.4%

Fines & Forfeits0.3%

Federal Intergovernmental Employment Security Administration0.3%

Federal Intergovernmental Other Natural Resources0.2%

Federal Intergovernmental Transit Utilities0.2%

Documentary & Stock Transfer Tax0.2%

Motor Vehicle Operators License0.2%

Regular Highway Charges0.2%

Housing & Community Development Charges0.1%

Local Intergovernmental Public Welfare0.1%

Unemployment - Interest Revenue0.1%

Federal Intergovernmental Sewerage0.1%

Toll Highway Charges0.1%

Water Transportation & Terminal Charges0.1%

Other License Tax0.1%

Local Intergovernmental Highways0.1%

Hunting & Fishing License0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Water Utilities0.0%

Parks & Recreation Charges0.0%

Federal Intergovernmental Air Transportation0.0%

Sale of Property0.0%

Local Intergovernmental Other0.0%

Public Utility License Tax0.0%

Local Intergovernmental Education0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Health & Hospitals0.0%

Severance Tax0.0%

Parking Facilities Charges0.0%

Air Transportation Charges0.0%

Transit Utilities Revenue0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Water Utilities Revenue0.0%

Solid Waste Charges0.0%

Public Utilities Tax0.0%

Amusement License Tax0.0%

Death & Gift Tax0.0%

Amusement Tax0.0%

Key Insights

1Total revenue increased by 54% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 7.6%, while per-capita revenue changed by 43.1%.
3The state's fund balances increased by 112.2%, suggesting improved fiscal health.

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State Expense Analysis (North Carolina: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 39%

$15,826,839,000→$22,072,849,000

Per Capita Spending▲ 30%

$1,624→$2,105

Population Trends

Population Change▲ 7.6%

9,748,181 (2012)→10,488,084 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 96%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▲ 4%

$0 (2012)→$0 (2021)

Sewerage Operations▼ 46%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 238%

$0 (2012)→$0 (2021)

General Expenses▲ 77%

$0 (2012)→$0 (2021)

North Carolina Key Insights

1Financial Administration was the fastest growing major expense category at 238% increase

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▼ 5%

$7,757,092,000 (2012)→$7,363,753,000 (2021)

Industrial Revenue Debt▼ 26%

$10,351,946,000 (2012)→$7,709,970,000 (2021)

Per Capita Debt▼ 12%

$796 (2012)→$702 (2021)

Population Trends

Population Change▲ 7.6%

9,748,181 (2012)→10,488,084 (2021)

Debt Management

Most Recent Year (2021)

Issued:$1,347,622,000

Retired:$1,077,193,000

Net Change:+$270,429,000

Debt Retirement Trend

$691,883,000 → $1,077,193,000▲ 56%

🔄 Significant change in retirement strategy detected

Key Insights

1There appears to be a significant shift in debt management strategy between 2012-2021, with a move toward lower debt levels.