City government · Clay County, IA

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

In the latest recorded fiscal year (ended June 30, 2024), Spencer took in $188 million and spent $176 million.

Latest recorded year: ended June 30, 2024Comes fromGoes to

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Where it comes from

Fees for services (hospital bills, electric power)88%City taxes6.3%Fines and other3.7%State tax money1.1%Federal tax money0.3%County and local tax money0.3%

What stands out

88%

of Spencer's money comes from fees for services such as water, sewer and parking.A typical U.S. city of 10,000 to 50,000 people gets 30%.

City taxes6.3%

Property tax
4.6%$8.7 million
Sales tax
1.4%$2.6 million
Other taxes
0.3%$641 thousand
What's in other taxesOther selective sales taxes; public utility taxes and 1 more
  • Other selective sales taxes$380 thousand
  • Public utility taxes$192 thousand
  • Other licenses$69 thousand

Amounts are by Census tax category.

Fees for services88%

Fees for services
88%$166 million
What's in fees for servicesHospital bills; electric power and 8 more
  • Hospital bills$126 million
  • Electric power$18.9 million
  • Other service charges$7.7 million
  • Garbage collection$5.0 million
  • Water$3.9 million
  • Sewer$3.9 million
  • Parks and recreation$701 thousand
  • Other government-run businesses$83 thousand
  • Airport$43 thousand
  • Road charges$4 thousand

Amounts are by Census type of charge.

Federal tax money0.3%

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

From the federal government
0.3%$596 thousand

State tax money1.1%

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

From the state
1.1%$2.0 million

County and local tax money0.3%

Money passed on by the county or other local governments.

From the county and other local governments
0.3%$583 thousand

Fines and other3.7%

Interest, rents and other
3.7%$7.0 million
Fines
<0.1%$2 thousand

Where it goes

Health and hospitals67%Water, sewer, trash and utilities13%Running the government and other costs13%Police, fire, courts and jails2.4%Parks, recreation and libraries1.6%All other spending2.0%

What stands out

67%

of Spencer's spending goes to health services and hospitals.Most U.S. cities of 10,000 to 50,000 people spend nothing on this.

Spending by category100%

Health and hospitals
67%$119 million
What's in health and hospitalsHospitals
  • Hospitals$119 million
Water, sewer, trash and utilities
13%$23.6 million
What's in water, sewer, trash and utilitiesElectric power; water supply and 2 more
  • Electric power$16.9 million
  • Water supply$2.7 million
  • Garbage and solid waste$2.4 million
  • Sewer systems$1.5 million
Running the government and other costs
13%$23.2 million
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$21.6 million
  • Finance, tax collection and budgeting$791 thousand
  • Central staff services (personnel, purchasing, technology)$396 thousand
  • Other government-run businesses$296 thousand
  • Government buildings$138 thousand
Police, fire, courts and jails
2.4%$4.3 million
What's in police, fire, courts and jailsPolice; fire protection and 2 more
  • Police$2.8 million
  • Fire protection$1.0 million
  • Inspections and regulation$411 thousand
  • Courts and legal services$57 thousand
Parks, recreation and libraries
1.6%$2.9 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$1.9 million
  • Libraries$957 thousand
Roads, transit and parking
0.9%$1.6 million
What's in roads, transit and parkingRoads and highways and airports
  • Roads and highways$1.5 million
  • Airports$168 thousand
Interest on debt
0.7%$1.3 million
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$1.0 million
  • Interest on water supply debt$259 thousand
Sent to other local governments
0.4%$651 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$651 thousand
Sources and moreWhere these numbers come from and what they cover

City of Spencer. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended June 30, 2024.

What this covers. The money of City of Spencer 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.