This study summarizes the sources and uses of state and local revenues in North Carolina primarily for the 1972 and 1982 fiscal years. The principal sources of revenue and expenditures for the major functions of state and local governments are presented. The division of revenues and expenditures between the General Fund and the Highway Fund is included. Revenues and expenditures in North Carolina are compared with those of other states in the Southeast. The amount and types of off-budget spending activity in North Carolina are also discussed.