State Finances for FY2014

On June 7, 2016 the US Census Bureau released data on state finances for FY 2014 here, including spending and revenue for each individual state and for all states combined.

On June 9, 2016 we updated state and local spending and revenue data for FY2014 through FY2021 as follows:

1. We replaced "guesstimated" state spending and revenue data for FY2014 using the new FY2014 data from the Census Bureau.
2. We replaced "guesstimated" local spending and revenue data for FY 2014 with estimates for each spending and revenue category using the trends in state finances between FY 2013 and FY 2014.
3. We replaced "guesstimated" state revenue data for FY 2015 with data from the Census Bureau's quarterly state tax summary here.
4. We replaced "guesstimated" local revenue data for FY 2015 with estimates for each category using trends for each category of state revenue between FY 2015 and FY 2015.
5. We replaced "guesstimated" state and local spending and revenue for FY 2015 thru FY2021 with new guesstimates based on the latest Census Bureau data for FY 2014 state finances and FY 2015 quarterly tax data.

State Finances for FY2014
Estimate vs. Actual

$ billion	Guesstimate	Actual
Spending	$1,542	$1,540
Revenue	$1,743	$1,809

We expect the Census Bureau to release local spending and revenue data for FY 2014 not earlier than Summer 2016.