Rhode Island Fiscal Statistics

StatisNostics/State Financials/Rhode Island

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20122024

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State Revenue Analysis (Rhode Island: 2012–2024)

Population: 1,052,637 → 1,093,734 (3.9% change)

Overall Revenue Trends

Total Revenue▲ 68.2%

$7,694,684,000 (2012)→$12,945,182,000 (2024)

Per Capita Revenue▲ 61.9%

$7,310 (2012)→$11,836 (2024)

Fund Balances▼ 100%

$8,444,029,000 (2012)→$0 (2024)

Revenue Volatility✓ Low

Avg. fluctuation: 6.1%

Major Tax Revenue

Property Tax▲ 156%

$2,095,000 (2012)→$5,364,000 (2024)

Sales Tax▲ 92.6%

$848,547,000 (2012)→$1,633,931,000 (2024)

Utility Revenue

Sewerage Charges▲ 39%

$79,540,000 (2012)→$110,577,000 (2024)

Solid Waste Charges▼ 37.6%

$12,615,000 (2012)→$7,872,000 (2024)

Growth Analysis

Fastest Growing Revenue Sources

Elementary Secondary Education Not Elsewhere Classified Charges▲ 16000.0%

$2,000→$322,000

Other In Trust - Interest Revenue▲ 3165.3%

$144,000→$4,702,000

Alcoholic Beverage License Tax▲ 2014.3%

$63,000→$1,332,000

Declining/Slowest Growing Sources

Sale of Property▼ 98.4%

$8,665,000→$141,000

Motor Vehicle License▼ 80.0%

$64,889,000→$13,002,000

Hospital Charges▼ 63.6%

$7,166,000→$2,609,000

Revenue Forecast

Projected Revenue (Next Year)▲ 1.1%

Estimated: $13,083,911,561

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Individual Income Tax13.9%

Federal Intergovernmental Public Welfare13.5%

Total General Sales Taxes11.0%

Net Lottery Revenue5.0%

Interest Earnings4.9%

All Other Not Elsewhere Classified Charges4.2%

Federal Intergovernmental Education4.2%

Federal Intergovernmental Health & Hospitals4.0%

Higher Education Tuition Charges3.7%

Federal Intergovernmental Other3.7%

Unemployment - Contribution3.3%

Federal Intergovernmental Highways2.9%

Other Selective Sales Taxes2.6%

Other In Trust - Other Contributions2.2%

Miscellaneous General Revenue Not Elsewhere Classified2.0%

Corporation Net Income Tax1.8%

Tobacco Sales Tax1.7%

Higher Education Auxiliary Charges1.3%

Public Utilities Tax1.3%

Insurance Premium Tax1.2%

Motor Fuels Sales Tax1.1%

Sewerage Charges1.0%

Motor Vehicle License0.8%

Air Transportation Charges0.7%

Occupation & Business License Not Elsewhere Classified0.6%

Federal Intergovernmental Other Natural Resources0.6%

Death & Gift Tax0.5%

Local Intergovernmental Other0.5%

Education Other State Charges Not Elsewhere Classified0.5%

Federal Intergovernmental Employment Security Administration0.4%

Transit Utilities Revenue0.4%

Parks & Recreation Charges0.4%

Fines & Forfeits0.4%

Federal Intergovernmental Transit Utilities0.3%

Local Intergovernmental Education0.3%

Natural Resources Not Elsewhere Classified Charges0.3%

Federal Intergovernmental Sewerage0.3%

Toll Highway Charges0.3%

Documentary & Stock Transfer Tax0.2%

Workers Compensation - Other Contributions0.2%

Federal Intergovernmental Housing & Community Development0.2%

Alcoholic Beverage Sales Tax0.2%

Solid Waste Charges0.2%

Federal Intergovernmental Water Utilities0.2%

Sale of Property0.1%

Regular Highway Charges0.1%

Housing & Community Development Charges0.1%

Rents0.1%

Hospital Charges0.1%

Other License Tax0.1%

Donations From Private Sources0.1%

Federal Intergovernmental Air Transportation0.1%

Corporation License Tax0.1%

Motor Vehicle Operators License0.1%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Unemployment-Federal Advances0.0%

Property Tax0.0%

Hunting & Fishing License0.0%

Parimutuels Tax0.0%

Elementary Secondary Education School Lunch Charges0.0%

Other In Trust - Interest Revenue0.0%

Amusement License Tax0.0%

Alcoholic Beverage License Tax0.0%

Elementary Secondary Education Tuition and Transportation Charges0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

2024 Revenue Breakdown

Federal Intergovernmental Public Welfare18.2%

Total General Sales Taxes12.6%

Individual Income Tax12.3%

Federal Intergovernmental Health & Hospitals9.0%

Interest Earnings4.9%

Corporation Net Income Tax4.6%

Amusement Tax3.1%

Net Lottery Revenue3.0%

Higher Education Tuition Charges3.0%

All Other Not Elsewhere Classified Charges2.9%

Federal Intergovernmental Highways2.8%

Federal Intergovernmental Education2.1%

Federal Intergovernmental Other2.0%

Other In Trust - Other Contributions2.0%

Unemployment - Contribution1.9%

Other Selective Sales Taxes1.8%

Insurance Premium Tax1.3%

Motor Fuels Sales Tax1.2%

Miscellaneous General Revenue Not Elsewhere Classified1.1%

Tobacco Sales Tax0.9%

Sewerage Charges0.9%

Higher Education Auxiliary Charges0.8%

Public Utilities Tax0.8%

Occupation & Business License Not Elsewhere Classified0.7%

Local Intergovernmental Other0.5%

Air Transportation Charges0.5%

Death & Gift Tax0.4%

Toll Highway Charges0.4%

Local Intergovernmental Education0.4%

Other License Tax0.3%

Parks & Recreation Charges0.3%

Federal Intergovernmental Sewerage0.3%

Federal Intergovernmental Air Transportation0.3%

Federal Intergovernmental Other Natural Resources0.2%

Donations From Private Sources0.2%

Transit Utilities Revenue0.2%

Education Other State Charges Not Elsewhere Classified0.2%

Housing & Community Development Charges0.2%

Natural Resources Not Elsewhere Classified Charges0.2%

Alcoholic Beverage Sales Tax0.2%

Federal Intergovernmental Employment Security Administration0.2%

Workers Compensation - Other Contributions0.2%

Fines & Forfeits0.1%

Documentary & Stock Transfer Tax0.1%

Unemployment - Interest Revenue0.1%

Motor Vehicle License0.1%

Federal Intergovernmental Housing & Community Development0.1%

Regular Highway Charges0.1%

Motor Vehicle Operators License0.1%

Solid Waste Charges0.1%

Corporation License Tax0.1%

Property Tax0.0%

Other In Trust - Interest Revenue0.0%

Hospital Charges0.0%

Hunting & Fishing License0.0%

Alcoholic Beverage License Tax0.0%

Elementary Secondary Education School Lunch Charges0.0%

Public Utility License Tax0.0%

Federal Intergovernmental General Support0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Amusement License Tax0.0%

Sale of Property0.0%

Key Insights

1Total revenue increased by 68.2% from 2012 to 2024, representing a significant change in the state's financial position.
2Population changed by 3.9%, while per-capita revenue changed by 61.9%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Rhode Island: 2012 - 2024)

Total Expenditure Trends

Operating Expenditures▲ 254%

$2,526,786,000→$8,943,851,000

Per Capita Spending▲ 241%

$2,400→$8,177

Population Trends

Population Change▲ 3.9%

1,052,637 (2012)→1,093,734 (2024)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 98%

$70,509,000 (2012)→$139,335,000 (2024)

Fire Protection▼ 0%

$0 (2012)→$0 (2024)

Infrastructure Expenses

Highways Maintenance▲ 16%

$74,562,000 (2012)→$86,138,000 (2024)

Sewerage Operations▲ 100%

$37,334,000 (2012)→$74,854,000 (2024)

Administrative Expenses

Financial Administration▲ 130%

$103,900,000 (2012)→$239,203,000 (2024)

General Expenses▲ 77%

$99,964,000 (2012)→$177,396,000 (2024)

Rhode Island Key Insights

1Per capita expenditures grew by 241%, indicating substantial service expansion or cost increases not explained by population growth alone
2Financial Administration was the fastest growing major expense category at 130% increase

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State Debt Analysis (2012-2024)

Debt Trends

Total Long-Term Debt▲ 184%

$4,000,379,000 (2012)→$11,348,697,000 (2024)

Industrial Revenue Debt▼ 100%

$5,140,487,000 (2012)→$0 (2024)

Per Capita Debt▲ 173%

$3,800 (2012)→$10,376 (2024)

Population Trends

Population Change▲ 3.9%

1,052,637 (2012)→1,093,734 (2024)

Debt Management

Most Recent Year (2024)

Issued:$1,783,277,000

Retired:$790,068,000

Net Change:+$993,209,000

Debt Retirement Trend

$338,991,000 → $790,068,000▲ 133%

🔄 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 2012-2024, with a move toward higher debt levels.
3New debt issuance significantly increased the per-resident debt burden (up 173%).