State Finances for FY2015

On May 11, 2017 the US Census Bureau released data on state finances for FY 2015 here, including spending and revenue for each individual state and for all states combined.

On May 20, 2017 we updated state and local spending and revenue data for FY2015 through FY2021 as follows:

1. We replaced "guesstimated" state spending and revenue data for FY2014 using the new FY2015 data from the Census Bureau.
2. We replaced "guesstimated" local spending and revenue data for FY 2015 with estimates for each spending and revenue category using the trends in state finances between FY 2014 and FY 2015.
3. We replaced "guesstimated" state revenue data for FY 2016 with data from the Census Bureau's quarterly state tax summary here.
4. We replaced "guesstimated" local revenue data for FY 2016 with estimates for each category using trends for each category of state revenue between FY 2014 and FY 2015.
5. We replaced "guesstimated" state and local spending and revenue for FY 2016 thru FY2021 with new guesstimates based on the latest Census Bureau data for FY 2015 state finances and FY 2016 quarterly tax data.

State Finances for FY2015
Estimate vs. Actual

$ billion	Guesstimate	Actual
Spending	$1,608	$1,677
Revenue	$1,874	$1,599

We expect the Census Bureau to release local spending and revenue data for FY 2015 not earlier than Summer 2017.