Colorado is one of the states that is least dependent on federal tax dollars, while it neighbors the states with the greatest and least federal dependency, a new analysis has found.

WalletHub, a personal finance website, examined the share of federal jobs in each state, the amount of federal money returned to residents compared to tax collections, and federal funding as a share of states’ revenue. By those measures, Colorado ranked thirty-seventh, near the bottom in proportion of federal aid.

Of the states bordering Colorado, Wyoming and Arizona were among the top 10 most dependent states, with New Mexico ranking first in the nation. Kansas was identified as the least dependent state, while Utah was number 46.

“Like in an insurance system, there should be some degree of cross-subsidizing,” said Pablo Guerron, an associate professor at Boston College. “Demographics, geography, and industry compositions make it difficult for an exclusively size-based allocation of federal resources. Hence, the notion of being a nation requires that we help each other partially based on our capacity to contribute.”

Generally, smaller states had higher federal dependency, as did more conservative states. Colorado’s Joint Budget Committee noted that federal revenue comprised approximately $9.8 billion out of the state’s $31.7 billion budget in the upcoming fiscal year.