Village government · Montgomery County, IL

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

In the latest recorded fiscal year (ended April 30, 2022), Panama took in $390 thousand and spent $294 thousand.

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

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Where it comes from

Fees for services (water, sewer)31%State tax money28%Federal tax money18%Fines and other17%Village taxes5.6%

What stands out

18%

of Panama's money comes from federal tax money.Most U.S. cities, towns and villages of under 10,000 people get none.

Village taxes5.6%

Other taxes
3.1%$12 thousand
What's in other taxesPublic utility taxes and other licenses
  • Public utility taxes$11 thousand
  • Other licenses$1 thousand

Amounts are by Census tax category.

Property tax
2.6%$10 thousand

Fees for services31%

Fees for services
31%$121 thousand
What's in fees for servicesWater and sewer
  • Water$90 thousand
  • Sewer$31 thousand

Amounts are by Census type of charge.

Federal tax money18%

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

From the federal government
18%$72 thousand

State tax money28%

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

From the state
28%$110 thousand

Fines and other17%

Interest, rents and other
17%$65 thousand

Where it goes

Water, sewer, trash and utilities44%Running the government and other costs42%Roads, transit and parking5.8%Parks, recreation and libraries5.4%Police, fire, courts and jails2.4%Interest on debt0.3%

What stands out

42%

of Panama's spending goes to running the government and other costs.A typical U.S. city, town or village of under 10,000 people spends 22%.

Spending by category100%

Water, sewer, trash and utilities
44%$130 thousand
What's in water, sewer, trash and utilitiesWater supply and sewer systems
  • Water supply$117 thousand
  • Sewer systems$13 thousand
Running the government and other costs
42%$123 thousand
What's in running the government and other costsFinance, tax collection and budgeting and central staff services (personnel, purchasing, technology)
  • Finance, tax collection and budgeting$73 thousand
  • Central staff services (personnel, purchasing, technology)$50 thousand
Roads, transit and parking
5.8%$17 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$17 thousand
Parks, recreation and libraries
5.4%$16 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$16 thousand
Police, fire, courts and jails
2.4%$7 thousand
What's in police, fire, courts and jailsPolice
  • Police$7 thousand
Interest on debt
0.3%$1 thousand
Sources and moreWhere these numbers come from and what they cover

Village of Panama. 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 Panama 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.