Village government · McHenry County, IL

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

In the latest recorded fiscal year (ended April 30, 2022), Lakewood took in $7.1 million and spent $6.3 million.

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

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Where it comes from

Fees for services (parks and recreation, sewer)47%Village taxes32%State tax money18%County and local tax money2.1%Fines and other0.9%

What stands out

18%

of Lakewood's money comes from state tax money.A typical U.S. city, town or village of under 10,000 people gets 10%.

Village taxes32%

Property tax
24%$1.7 million
Other taxes
7.6%$540 thousand
What's in other taxesPublic utility taxes; other licenses and 1 more
  • Public utility taxes$295 thousand
  • Other licenses$165 thousand
  • Other selective sales taxes$80 thousand

Amounts are by Census tax category.

Fees for services47%

Fees for services
47%$3.3 million
What's in fees for servicesParks and recreation; sewer and 3 more
  • Parks and recreation$1.3 million
  • Sewer$1.0 million
  • Water$654 thousand
  • Garbage collection$329 thousand
  • Other service charges$34 thousand

Amounts are by Census type of charge.

State tax money18%

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

From the state
18%$1.3 million

County and local tax money2.1%

Money passed on by the county or other local governments.

From the county and other local governments
2.1%$153 thousand

Fines and other0.9%

Fines
0.5%$37 thousand
Interest, rents and other
0.4%$30 thousand

Where it goes

Police, fire, courts and jails33%Water, sewer, trash and utilities23%Parks, recreation and libraries17%Running the government and other costs12%Roads, transit and parking8.4%All other spending7.6%

What stands out

17%

of Lakewood's spending goes to parks, recreation and libraries.A typical U.S. city, town or village of under 10,000 people spends 2.2%.

Spending by category100%

Police, fire, courts and jails
33%$2.1 million
What's in police, fire, courts and jailsPolice
  • Police$2.1 million
Water, sewer, trash and utilities
23%$1.4 million
What's in water, sewer, trash and utilitiesWater supply and garbage and solid waste
  • Water supply$1.1 million
  • Garbage and solid waste$327 thousand
Parks, recreation and libraries
17%$1.1 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$1.1 million
Running the government and other costs
12%$741 thousand
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)$690 thousand
  • Other and not broken out$51 thousand
Roads, transit and parking
8.4%$529 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$529 thousand
Interest on debt
5.2%$327 thousand
Housing and community development
2.4%$154 thousand
Sources and moreWhere these numbers come from and what they cover

Village of Lakewood. 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 Lakewood 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.