Tennessee Fiscal Statistics

StatisNostics/State Financials/Tennessee
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20122023
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State Revenue Analysis (Tennessee: 2012–2023)

Population: 6,455,177 → 6,975,218 (8.1% change)

Overall Revenue Trends

Total Revenue▲ 77.9%
$27,268,545,000 (2012)→$48,511,647,000 (2023)
Per Capita Revenue▲ 64.7%
$4,224 (2012)→$6,955 (2023)
Fund Balances▼ 100%
$11,523,700,000 (2012)→$0 (2023)
Revenue Volatility✓ Low
Avg. fluctuation: 6.3%

Major Tax Revenue

Sales Tax▲ 133.4%
$5,933,356,000 (2012)→$13,847,148,000 (2023)

Utility Revenue

Water Utilities▼ 100%
$5,000 (2012)→$0 (2023)
Solid Waste Charges▲ 25.1%
$1,791,000 (2012)→$2,241,000 (2023)

Growth Analysis

Fastest Growing Revenue Sources

Sale of Property▲ 1076.6%
$1,276,000→$15,013,000
Federal Intergovernmental Health & Hospitals▲ 281.4%
$703,371,000→$2,682,590,000
Amusement License Tax▲ 204.8%
$166,000→$506,000

Declining/Slowest Growing Sources

Death & Gift Tax▼ 99.9%
$149,344,000→$77,000
Individual Income Tax▼ 98.4%
$182,251,000→$2,926,000
Federal Intergovernmental Sewerage▼ 96.9%
$61,823,000→$1,916,000

Revenue Forecast

Projected Revenue (Next Year)▲ 7.5%
Estimated: $52,129,228,667
Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare23.6%
Total General Sales Taxes21.8%
Federal Intergovernmental Education6.3%
Higher Education Tuition Charges4.3%
Corporation Net Income Tax4.1%
Federal Intergovernmental Highways3.7%
Motor Fuels Sales Tax3.1%
Miscellaneous General Revenue Not Elsewhere Classified3.0%
Unemployment - Contribution2.8%
Corporation License Tax2.7%
Federal Intergovernmental Health & Hospitals2.6%
Insurance Premium Tax2.3%
Other Selective Sales Taxes2.0%
Federal Intergovernmental Other2.0%
Net Lottery Revenue1.3%
Federal Intergovernmental General Support1.2%
All Other Not Elsewhere Classified Charges1.2%
Donations From Private Sources1.2%
Interest Earnings1.1%
Higher Education Auxiliary Charges1.1%
Occupation & Business License Not Elsewhere Classified1.1%
Tobacco Sales Tax1.0%
Motor Vehicle License1.0%
Federal Intergovernmental Housing & Community Development0.9%
Individual Income Tax0.7%
Death & Gift Tax0.5%
Documentary & Stock Transfer Tax0.5%
Alcoholic Beverage Sales Tax0.5%
Federal Intergovernmental Other Natural Resources0.3%
Federal Intergovernmental Employment Security Administration0.3%
Federal Intergovernmental Sewerage0.2%
Motor Vehicle Operators License0.2%
Fines & Forfeits0.2%
Parks & Recreation Charges0.1%
Hunting & Fishing License0.1%
Education Other State Charges Not Elsewhere Classified0.1%
Hospital Charges0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Local Intergovernmental Highways0.1%
Local Intergovernmental Public Welfare0.1%
Local Intergovernmental Education0.1%
Taxes Not Elsewhere Classified0.1%
Federal Intergovernmental Water Utilities0.1%
Federal Intergovernmental Air Transportation0.1%
Local Intergovernmental Other0.0%
Unemployment - Interest Revenue0.0%
Public Utilities Tax0.0%
Federal Intergovernmental Transit Utilities0.0%
Other License Tax0.0%
Public Utility License Tax0.0%
Housing & Community Development Charges0.0%
Severance Tax0.0%
Solid Waste Charges0.0%
Local Intergovernmental Health & Hospitals0.0%
Alcoholic Beverage License Tax0.0%
Sale of Property0.0%
Rents0.0%
Regular Highway Charges0.0%
Amusement License Tax0.0%
Toll Highway Charges0.0%
Water Utilities Revenue0.0%

2023 Revenue Breakdown

Total General Sales Taxes28.5%
Federal Intergovernmental Public Welfare24.9%
Corporation Net Income Tax6.5%
Federal Intergovernmental Health & Hospitals5.5%
Federal Intergovernmental Education4.1%
Corporation License Tax3.4%
Higher Education Tuition Charges2.8%
Insurance Premium Tax2.6%
Motor Fuels Sales Tax2.6%
Federal Intergovernmental Highways2.4%
Federal Intergovernmental Other1.8%
Net Lottery Revenue1.4%
Other Selective Sales Taxes1.3%
Federal Intergovernmental Housing & Community Development1.3%
All Other Not Elsewhere Classified Charges1.1%
Occupation & Business License Not Elsewhere Classified1.1%
Higher Education Auxiliary Charges1.0%
Miscellaneous General Revenue Not Elsewhere Classified0.9%
Documentary & Stock Transfer Tax0.8%
Federal Intergovernmental General Support0.8%
Interest Earnings0.8%
Alcoholic Beverage Sales Tax0.7%
Motor Vehicle License0.7%
Unemployment - Contribution0.5%
Tobacco Sales Tax0.4%
Federal Intergovernmental Other Natural Resources0.4%
Donations From Private Sources0.4%
Federal Intergovernmental Employment Security Administration0.2%
Parks & Recreation Charges0.1%
Local Intergovernmental Highways0.1%
Hunting & Fishing License0.1%
Local Intergovernmental Education0.1%
Motor Vehicle Operators License0.1%
Fines & Forfeits0.1%
Local Intergovernmental Public Welfare0.1%
Natural Resources Not Elsewhere Classified Charges0.1%
Unemployment - Interest Revenue0.0%
Federal Intergovernmental Air Transportation0.0%
Hospital Charges0.0%
Sale of Property0.0%
Taxes Not Elsewhere Classified0.0%
Education Other State Charges Not Elsewhere Classified0.0%
Local Intergovernmental Other0.0%
Other License Tax0.0%
Public Utility License Tax0.0%
Public Utilities Tax0.0%
Local Intergovernmental Health & Hospitals0.0%
Individual Income Tax0.0%
Solid Waste Charges0.0%
Federal Intergovernmental Sewerage0.0%
Alcoholic Beverage License Tax0.0%
Severance Tax0.0%
Housing & Community Development Charges0.0%
Amusement License Tax0.0%
Rents0.0%
Regular Highway Charges0.0%
Death & Gift Tax0.0%
Toll Highway Charges0.0%
Elementary Secondary Education Not Elsewhere Classified Charges0.0%

Key Insights

  1. 1Total revenue increased by 77.9% from 2012 to 2023, representing a significant change in the state's financial position.
  2. 2Population changed by 8.1%, while per-capita revenue changed by 64.7%.
  3. 3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.
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State Expense Analysis (Tennessee: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 216%
$9,130,792,000→$28,831,849,000
Per Capita Spending▲ 192%
$1,414→$4,133

Population Trends

Population Change▲ 8.1%
6,455,177 (2012)→6,975,218 (2023)
⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 92%
$168,721,000 (2012)→$323,507,000 (2023)
Fire Protection▼ 0%
$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 66%
$446,684,000 (2012)→$741,635,000 (2023)
Sewerage Operations▼ 16%
$960,000 (2012)→$806,000 (2023)

Administrative Expenses

Financial Administration▲ 146%
$382,701,000 (2012)→$942,220,000 (2023)
General Expenses▲ 36%
$571,121,000 (2012)→$778,068,000 (2023)

Tennessee Key Insights

  1. 1Per capita expenditures grew by 192%, indicating substantial service expansion or cost increases not explained by population growth alone
  2. 2Financial Administration was the fastest growing major expense category at 146% increase
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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 116%
$3,641,098,000 (2012)→$7,880,615,000 (2023)
Industrial Revenue Debt▼ 100%
$2,020,575,000 (2012)→$0 (2023)
Per Capita Debt▲ 100%
$564 (2012)→$1,130 (2023)

Population Trends

Population Change▲ 8.1%
6,455,177 (2012)→6,975,218 (2023)

Debt Management

Most Recent Year (2023)

Issued:$905,154,000
Retired:$665,992,000
Net Change:+$239,162,000

Debt Retirement Trend

$116,563,000 → $665,992,000▲ 471%
🔄 Significant change in retirement strategy detected

Key Insights

  1. 1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
  2. 2There appears to be a significant shift in debt management strategy between 2012-2023, with a move toward higher debt levels.
  3. 3New debt issuance significantly increased the per-resident debt burden (up 100%).