City government · Boone County, IA

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

In the latest recorded fiscal year (ended June 30, 2022), Madrid took in $4.9 million and spent $5.6 million.

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

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Where it comes from

City taxes42%Fees for services (water, sewer)29%Federal tax money13%State tax money8.2%Fines and other5.9%County and local tax money2.0%

What stands out

13%

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

City taxes42%

Property tax
33%$1.6 million
Sales tax
7.2%$355 thousand
Other taxes
2.1%$103 thousand
What's in other taxesPublic utility taxes; other licenses and 1 more
  • Public utility taxes$55 thousand
  • Other licenses$41 thousand
  • Other selective sales taxes$7 thousand

Amounts are by Census tax category.

Fees for services29%

Fees for services
29%$1.4 million
What's in fees for servicesWater; sewer and 4 more
  • Water$701 thousand
  • Sewer$488 thousand
  • Garbage collection$190 thousand
  • Parks and recreation$45 thousand
  • Other service charges$8 thousand
  • Road charges$1 thousand

Amounts are by Census type of charge.

Federal tax money13%

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

From the federal government
13%$625 thousand

State tax money8.2%

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

From the state
8.2%$403 thousand

County and local tax money2.0%

Money passed on by the county or other local governments.

From the county and other local governments
2.0%$99 thousand

Fines and other5.9%

Interest, rents and other
5.8%$287 thousand
Fines
<0.1%$1 thousand

Where it goes

Water, sewer, trash and utilities42%Roads, transit and parking19%Running the government and other costs11%Police, fire, courts and jails10%Interest on debt8.7%All other spending9.5%

What stands out

8.7%

of Madrid's spending goes to interest on debt.A typical U.S. city, town or village of under 10,000 people spends 1.1%.

Spending by category100%

Water, sewer, trash and utilities
42%$2.4 million
What's in water, sewer, trash and utilitiesSewer systems; water supply and 1 more
  • Sewer systems$1.5 million
  • Water supply$630 thousand
  • Garbage and solid waste$191 thousand
Roads, transit and parking
19%$1.0 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.0 million
Running the government and other costs
11%$629 thousand
What's in running the government and other costsOther and not broken out; finance, tax collection and budgeting and 2 more
  • Other and not broken out$359 thousand
  • Finance, tax collection and budgeting$212 thousand
  • Central staff services (personnel, purchasing, technology)$36 thousand
  • Government buildings$22 thousand
Police, fire, courts and jails
10%$564 thousand
What's in police, fire, courts and jailsPolice; fire protection and 1 more
  • Police$464 thousand
  • Fire protection$78 thousand
  • Courts and legal services$22 thousand
Interest on debt
8.7%$488 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$481 thousand
  • Interest on water supply debt$7 thousand
Parks, recreation and libraries
8.6%$482 thousand
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$311 thousand
  • Libraries$171 thousand
Housing and community development
0.6%$32 thousand
Sent to other local governments
0.2%$13 thousand
What's in sent to other local governmentsSent to local governments: other and not broken out
  • Sent to local governments: other and not broken out$13 thousand
Health and hospitals
<0.1%$5 thousand
What's in health and hospitalsPublic health
  • Public health$5 thousand
Sources and moreWhere these numbers come from and what they cover

City of Madrid. 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 Madrid 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.