City government · Sangamon County, IL

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

In the latest recorded fiscal year (ended February 28, 2024), Springfield took in $495 million and spent $468 million.

Latest recorded year: ended February 28, 2024Comes fromGoes to

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Where it comes from

Fees for services (electric power, water)50%City taxes22%State tax money15%Federal tax money6.5%Fines and other5.3%County and local tax money1.2%

What stands out

50%

of Springfield's money comes from fees for services such as water, sewer and parking.A typical U.S. city of 50,000+ people gets 30%.

City taxes22%

Property tax
9.6%$47.6 million
Sales tax
8.2%$40.4 million
Other taxes
4.4%$21.6 million
What's in other taxesOther selective sales taxes and other licenses
  • Other selective sales taxes$18.6 million
  • Other licenses$3.0 million

Amounts are by Census tax category.

Fees for services50%

Fees for services
50%$246 million
What's in fees for servicesElectric power; water and 3 more
  • Electric power$206 million
  • Water$26.4 million
  • Sewer$8.9 million
  • Other service charges$4.8 million
  • Parking$224 thousand

Amounts are by Census type of charge.

Federal tax money6.5%

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

From the federal government
6.5%$32.4 million

State tax money15%

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

From the state
15%$75.2 million

County and local tax money1.2%

Money passed on by the county or other local governments.

From the county and other local governments
1.2%$6.0 million

Fines and other5.3%

Interest, rents and other
5.2%$25.7 million
Fines
0.1%$646 thousand

Where it goes

Running the government and other costs43%Water, sewer, trash and utilities37%Interest on debt12%Roads, transit and parking6.6%Parks, recreation and libraries1.6%

What stands out

43%

of Springfield's spending goes to running the government and other costs.A typical U.S. city of 50,000+ people spends 16%.

Spending by category100%

Running the government and other costs
43%$202 million
What's in running the government and other costsOther and not broken out; central staff services (personnel, purchasing, technology) and 2 more
  • Other and not broken out$140 million
  • Central staff services (personnel, purchasing, technology)$48.5 million
  • Government buildings$12.2 million
  • Other government-run businesses$1.1 million
Water, sewer, trash and utilities
37%$173 million
What's in water, sewer, trash and utilitiesElectric power; water supply and 1 more
  • Electric power$125 million
  • Water supply$41.1 million
  • Sewer systems$7.0 million
Interest on debt
12%$54.8 million
Roads, transit and parking
6.6%$30.9 million
What's in roads, transit and parkingRoads and highways and parking
  • Roads and highways$30.5 million
  • Parking$372 thousand
Parks, recreation and libraries
1.6%$7.7 million
What's in parks, recreation and librariesLibraries and parks and recreation
  • Libraries$4.7 million
  • Parks and recreation$3.0 million
Sources and moreWhere these numbers come from and what they cover

City of Springfield. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended February 28, 2024.

What this covers. The money of City of Springfield 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.