Village government · Cook County, IL

Inverness's money: where it comes from and where it goes

In the latest recorded fiscal year (ended April 30, 2022), Inverness took in $6.1 million and spent $4.3 million.

Latest recorded year: ended April 30, 2022Comes fromGoes to

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Where it comes from

Village taxes51%State tax money33%Federal tax money9.1%Fines and other3.9%Fees for services (garbage collection)2.3%County and local tax money1.3%

What stands out

46%

of Inverness' money comes from property tax.A typical U.S. city, town or village of under 10,000 people gets 15%.

Village taxes51%

Property tax
46%$2.8 million
Other taxes
4.7%$287 thousand
What's in other taxesOther licenses
  • Other licenses$287 thousand

Amounts are by Census tax category.

Fees for services2.3%

Fees for services
2.3%$143 thousand
What's in fees for servicesGarbage collection
  • Garbage collection$143 thousand

Amounts are by Census type of charge.

Federal tax money9.1%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
9.1%$559 thousand

State tax money33%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
33%$2.0 million

County and local tax money1.3%

Money passed on by the county or other local governments.

From the county and other local governments
1.3%$81 thousand

Fines and other3.9%

Interest, rents and other
3.6%$222 thousand
Fines
0.2%$15 thousand

Where it goes

Police, fire, courts and jails42%Running the government and other costs28%Roads, transit and parking28%Interest on debt1.6%

What stands out

42%

of Inverness' spending goes to police, fire, courts and jails.A typical U.S. city, town or village of under 10,000 people spends 11%.

Spending by category100%

Police, fire, courts and jails
42%$1.8 million
What's in police, fire, courts and jailsPolice
  • Police$1.8 million
Running the government and other costs
28%$1.2 million
What's in running the government and other costsCentral staff services (personnel, purchasing, technology) and other and not broken out
  • Central staff services (personnel, purchasing, technology)$708 thousand
  • Other and not broken out$524 thousand
Roads, transit and parking
28%$1.2 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.2 million
Interest on debt
1.6%$70 thousand
Sources and moreWhere these numbers come from and what they cover

Village of Inverness. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended April 30, 2022. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of Village of Inverness itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.