Rhode Island Fiscal Statistics

StatisNostics/State Financials/Rhode Island

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20122021

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State Revenue Analysis (Rhode Island: 2012–2021)

Population: 1,052,637 → 1,059,361 (0.6% change)

Overall Revenue Trends

Total Revenue▲ 71.4%

$7,692,390,000 (2012)→$13,182,569,000 (2021)

Per Capita Revenue▲ 70.3%

$7,308 (2012)→$12,444 (2021)

Fund Balances▲ 19.4%

$8,444,029,000 (2012)→$10,083,602,000 (2021)

Revenue Volatility✓ Low

Avg. fluctuation: 7.5%

Major Tax Revenue

Property Tax▲ 84.4%

$2,095,000 (2012)→$3,864,000 (2021)

Sales Tax▲ 57.3%

$848,547,000 (2012)→$1,334,931,000 (2021)

Utility Revenue

Sewerage Charges▲ 31.5%

$79,540,000 (2012)→$104,582,000 (2021)

Solid Waste Charges▼ 18.4%

$12,615,000 (2012)→$10,297,000 (2021)

Growth Analysis

Fastest Growing Revenue Sources

Elementary Secondary Education Not Elsewhere Classified Charges▲ 2200.0%

$2,000→$46,000

Alcoholic Beverage License Tax▲ 1871.4%

$63,000→$1,242,000

Federal Intergovernmental Health & Hospitals▲ 965.4%

$309,329,000→$3,295,613,000

Declining/Slowest Growing Sources

Sale of Property▼ 99.9%

$8,665,000→$9,000

Federal Intergovernmental Other Natural Resources▼ 78.3%

$46,671,000→$10,150,000

Parimutuels Tax▼ 75.2%

$1,587,000→$393,000

Revenue Forecast

Projected Revenue (Next Year)▲ 21.1%

Estimated: $15,969,155,858

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Sources

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%

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%

2021 Revenue Sources

Federal Intergovernmental Health & Hospitals25.0%

Federal Intergovernmental Public Welfare15.5%

Individual Income Tax13.3%

Total General Sales Taxes10.1%

Federal Intergovernmental Other3.0%

Higher Education Tuition Charges2.8%

Interest Earnings2.7%

All Other Not Elsewhere Classified Charges2.2%

Net Lottery Revenue2.1%

Federal Intergovernmental Highways2.0%

Corporation Net Income Tax2.0%

Other In Trust - Other Contributions1.8%

Other Selective Sales Taxes1.7%

Unemployment - Contribution1.7%

Federal Intergovernmental Education1.5%

Miscellaneous General Revenue Not Elsewhere Classified1.3%

Tobacco Sales Tax1.2%

Insurance Premium Tax1.1%

Motor Fuels Sales Tax1.0%

Sewerage Charges0.8%

Public Utilities Tax0.7%

Federal Intergovernmental Transit Utilities0.7%

Occupation & Business License Not Elsewhere Classified0.6%

Higher Education Auxiliary Charges0.6%

Toll Highway Charges0.4%

Local Intergovernmental Other0.4%

Federal Intergovernmental Air Transportation0.3%

Death & Gift Tax0.3%

Air Transportation Charges0.3%

Federal Intergovernmental Employment Security Administration0.2%

Motor Vehicle License0.2%

Local Intergovernmental Education0.2%

Alcoholic Beverage Sales Tax0.2%

Transit Utilities Revenue0.1%

Workers Compensation - Other Contributions0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Documentary & Stock Transfer Tax0.1%

Amusement Tax0.1%

Fines & Forfeits0.1%

Federal Intergovernmental Sewerage0.1%

Education Other State Charges Not Elsewhere Classified0.1%

Housing & Community Development Charges0.1%

Donations From Private Sources0.1%

Parks & Recreation Charges0.1%

Solid Waste Charges0.1%

Federal Intergovernmental Water Utilities0.1%

Federal Intergovernmental Other Natural Resources0.1%

Federal Intergovernmental Housing & Community Development0.1%

Motor Vehicle Operators License0.1%

Regular Highway Charges0.1%

Corporation License Tax0.1%

Other License Tax0.1%

Unemployment - Interest Revenue0.0%

Property Tax0.0%

Hospital Charges0.0%

Public Utility License Tax0.0%

Hunting & Fishing License0.0%

Elementary Secondary Education School Lunch Charges0.0%

Alcoholic Beverage License Tax0.0%

Parimutuels Tax0.0%

Other In Trust - Interest Revenue0.0%

Amusement License Tax0.0%

Federal Intergovernmental General Support0.0%

Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Sale of Property0.0%

Key Insights

1Total revenue increased by 71.4% from 2012 to 2021, representing a significant change in the state's financial position.
2Population changed by 0.6%, while per-capita revenue changed by 70.3%.

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State Expense Analysis (Rhode Island: 2012 - 2021)

Total Expenditure Trends

Operating Expenditures▲ 68%

$2,526,786,000→$4,254,758,000

Per Capita Spending▲ 67%

$2,400→$4,016

Population Trends

Population Change▲ 0.6%

1,052,637 (2012)→1,059,361 (2021)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 34%

$0 (2012)→$0 (2021)

Fire Protection▼ 0%

$0 (2012)→$0 (2021)

Infrastructure Expenses

Highways Maintenance▼ 34%

$0 (2012)→$0 (2021)

Sewerage Operations▲ 54%

$0 (2012)→$0 (2021)

Administrative Expenses

Financial Administration▲ 82%

$0 (2012)→$0 (2021)

General Expenses▲ 488%

$0 (2012)→$0 (2021)

Rhode Island Key Insights

1Per capita expenditures grew by 67%, indicating substantial service expansion or cost increases not explained by population growth alone
2General expenses increased dramatically by 488%, which may indicate classification changes, new initiatives, or reporting adjustments
3Financial Administration was the fastest growing major expense category at 82% increase

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State Debt Analysis (2012-2021)

Debt Trends

Total Long-Term Debt▲ 4%

$4,000,379,000 (2012)→$4,151,814,000 (2021)

Industrial Revenue Debt▲ 1%

$5,140,487,000 (2012)→$5,200,743,000 (2021)

Per Capita Debt▲ 3%

$3,800 (2012)→$3,919 (2021)

Population Trends

Population Change▲ 0.6%

1,052,637 (2012)→1,059,361 (2021)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2021)

Issued:$273,700,000

Retired:$409,432,000

Net Change:$-135,732,000

Debt Retirement Trend

$338,991,000 → $409,432,000▲ 21%