Village government · Fulton County, IL

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

In the latest recorded fiscal year (ended April 30, 2022), Smithfield took in $3.9 million and spent $2.9 million.

Latest recorded year: ended April 30, 2022Estimated by the U.S. Census BureauComes fromGoes to

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Where it comes from

Fines and other96%Fees for services (water, sewer)2.7%State tax money1.6%Village taxes0.2%

What stands out

96%

of Smithfield's money comes from interest, rents and other revenue.A typical U.S. city, town or village of under 10,000 people gets 3%.

Village taxes0.2%

Property tax
0.2%$9 thousand

Fees for services2.7%

Fees for services
2.7%$105 thousand
What's in fees for servicesWater; sewer and 1 more
  • Water$64 thousand
  • Sewer$37 thousand
  • Other service charges$4 thousand

Amounts are by Census type of charge.

State tax money1.6%

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

From the state
1.6%$62 thousand

Fines and other96%

Interest, rents and other
96%$3.7 million

Where it goes

Water, sewer, trash and utilities98%Running the government and other costs1.1%Interest on debt0.5%Roads, transit and parking0.4%Parks, recreation and libraries0.1%

What stands out

98%

of Smithfield's spending goes to water, sewer, trash and other utilities.A typical U.S. city, town or village of under 10,000 people spends 32%.

Spending by category100%

Water, sewer, trash and utilities
98%$2.9 million
What's in water, sewer, trash and utilitiesWater supply and sewer systems
  • Water supply$2.9 million
  • Sewer systems$18 thousand
Running the government and other costs
1.1%$32 thousand
What's in running the government and other costsFinance, tax collection and budgeting
  • Finance, tax collection and budgeting$32 thousand
Interest on debt
0.5%$14 thousand
Roads, transit and parking
0.4%$11 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$11 thousand
Parks, recreation and libraries
0.1%$4 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$4 thousand
Sources and moreWhere these numbers come from and what they cover

Village of Smithfield. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended April 30, 2022. Most of this government's figures were estimated by the U.S. Census Bureau from a sample; the government did not report them itself. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of Village of Smithfield 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.