City government · Buena Vista County, IA

Storm Lake's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Storm Lake took in $25.9 million and spent $29.4 million.

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

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Where it comes from

Fees for services (water, sewer)44%City taxes38%State tax money11%Fines and other5.4%Federal tax money1.1%County and local tax money0.2%

What stands out

7.1%

of Storm Lake's money comes from sales tax.Most U.S. cities of 10,000 to 50,000 people get none.

City taxes38%

Property tax
25%$6.4 million
Sales tax
7.1%$1.8 million
Other taxes
6.6%$1.7 million
What's in other taxesPublic utility taxes; other selective sales taxes and 1 more
  • Public utility taxes$1.1 million
  • Other selective sales taxes$432 thousand
  • Other licenses$145 thousand

Amounts are by Census tax category.

Fees for services44%

Fees for services
44%$11.5 million
What's in fees for servicesWater; sewer and 6 more
  • Water$5.2 million
  • Sewer$4.4 million
  • Parks and recreation$768 thousand
  • Garbage collection$488 thousand
  • Airport$393 thousand
  • Other service charges$172 thousand
  • Road charges$14 thousand
  • Housing$13 thousand

Amounts are by Census type of charge.

Federal tax money1.1%

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

From the federal government
1.1%$284 thousand

State tax money11%

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

From the state
11%$2.8 million

County and local tax money0.2%

Money passed on by the county or other local governments.

From the county and other local governments
0.2%$56 thousand

Fines and other5.4%

Interest, rents and other
5.3%$1.4 million
Fines
<0.1%$11 thousand

Where it goes

Running the government and other costs41%Water, sewer, trash and utilities30%Police, fire, courts and jails13%Roads, transit and parking6.7%Parks, recreation and libraries5.9%All other spending3.2%

What stands out

41%

of Storm Lake's spending goes to running the government and other costs.A typical U.S. city of 10,000 to 50,000 people spends 18%.

Spending by category100%

Running the government and other costs
41%$12.1 million
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$11.8 million
  • Finance, tax collection and budgeting$182 thousand
  • Central staff services (personnel, purchasing, technology)$74 thousand
  • Government buildings$28 thousand
Water, sewer, trash and utilities
30%$8.8 million
What's in water, sewer, trash and utilitiesWater supply; sewer systems and 1 more
  • Water supply$5.0 million
  • Sewer systems$3.3 million
  • Garbage and solid waste$505 thousand
Police, fire, courts and jails
13%$3.9 million
What's in police, fire, courts and jailsPolice; fire protection and 2 more
  • Police$2.9 million
  • Fire protection$658 thousand
  • Inspections and regulation$234 thousand
  • Courts and legal services$154 thousand
Roads, transit and parking
6.7%$2.0 million
What's in roads, transit and parkingRoads and highways; airports and 1 more
  • Roads and highways$1.6 million
  • Airports$359 thousand
  • Public transit$8 thousand
Parks, recreation and libraries
5.9%$1.7 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$1.4 million
  • Libraries$363 thousand
Interest on debt
3.2%$939 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$892 thousand
  • Interest on water supply debt$47 thousand
Health and hospitals
<0.1%$3 thousand
What's in health and hospitalsPublic health
  • Public health$3 thousand
Sources and moreWhere these numbers come from and what they cover

City of Storm Lake. 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 Storm Lake 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.