City government · Story County, IA

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

In the latest recorded fiscal year (ended June 30, 2022), Colo took in $1.4 million and spent $1.3 million.

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

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Where it comes from

City taxes32%Fees for services (water, garbage collection)26%State tax money22%Fines and other14%County and local tax money6.0%

What stands out

9%

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

City taxes32%

Property tax
23%$314 thousand
Sales tax
9.0%$125 thousand

Fees for services26%

Fees for services
26%$356 thousand
What's in fees for servicesWater; garbage collection and 1 more
  • Water$152 thousand
  • Garbage collection$105 thousand
  • Sewer$99 thousand

Amounts are by Census type of charge.

State tax money22%

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

From the state
22%$309 thousand

County and local tax money6.0%

Money passed on by the county or other local governments.

From the county and other local governments
6.0%$83 thousand

Fines and other14%

Interest, rents and other
14%$196 thousand

Where it goes

Running the government and other costs27%Water, sewer, trash and utilities26%Police, fire, courts and jails22%Parks, recreation and libraries14%Roads, transit and parking8.0%All other spending3.1%

What stands out

14%

of Colo'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%

Running the government and other costs
27%$346 thousand
What's in running the government and other costsOther and not broken out; finance, tax collection and budgeting and 3 more
  • Other and not broken out$199 thousand
  • Finance, tax collection and budgeting$112 thousand
  • Government buildings$17 thousand
  • Other government-run businesses$15 thousand
  • Central staff services (personnel, purchasing, technology)$3 thousand
Water, sewer, trash and utilities
26%$342 thousand
What's in water, sewer, trash and utilitiesWater supply; garbage and solid waste and 1 more
  • Water supply$134 thousand
  • Garbage and solid waste$108 thousand
  • Sewer systems$100 thousand
Police, fire, courts and jails
22%$283 thousand
What's in police, fire, courts and jailsFire protection; police and 1 more
  • Fire protection$226 thousand
  • Police$42 thousand
  • Courts and legal services$15 thousand
Parks, recreation and libraries
14%$189 thousand
What's in parks, recreation and librariesLibraries and parks and recreation
  • Libraries$127 thousand
  • Parks and recreation$62 thousand
Roads, transit and parking
8.0%$105 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$105 thousand
Interest on debt
3.0%$39 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$21 thousand
  • Interest on water supply debt$18 thousand
Social services
<0.1%$1 thousand
What's in social servicesOther public welfare
  • Other public welfare$1 thousand
Sources and moreWhere these numbers come from and what they cover

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

What this covers. The money of City of Colo 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.