State Expenditure Report

This edition of the State Expenditure Report includes data from estimated fiscal 2025, actual fiscal 2024, and actual fiscal 2023. The report includes 50-state data broken down by fund source and program area, as well as data from three U.S. territories and the District of Columbia.

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Brian Sigritz
202-624-8439
bsigritz@nasbo.org

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Total state spending grew moderately for a fourth consecutive year in estimated fiscal 2025 increasing 5.7 percent, following record growth in fiscal 2021. While the growth rate in total state spending (state funds and federal funds combined) was similar to the past few years, the growth rate in individual funding sources differed from recent trends. From fiscal 2022 to fiscal 2024 state funds (general funds and other state funds combined) grew strongly while federal funds to states declined. However, in estimated fiscal 2025 state funds and federal funds increased at a similar rate.

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