State Finances for FY2016

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 April 10, 2018 we updated state and local spending and revenue data for FY2016 through FY2023 as follows:

1. We replaced "guesstimated" state spending and revenue data for FY2016 using the new FY2016 data from the Census Bureau.
2. We replaced "guesstimated" local spending and revenue data for FY 2016 with estimates for each spending and revenue category using the trends in state finances between FY 2015 and FY 2016.
3. We replaced "guesstimated" state revenue data for FY 2017 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 2015 and FY 2016.
5. We replaced "guesstimated" state and local spending and revenue for FY 2017 thru FY2023 with new guesstimates based on the latest Census Bureau data for FY 2016 state finances and FY 2017 quarterly tax data.

State Finances for FY2016
Estimate vs. Actual

$ billion	Guesstimate	Actual
Spending	$1,708	$1,707
Revenue	$1,604	$1,499

We expect the Census Bureau to release local spending and revenue data for FY 2016 not earlier than Summer 2018.