City government · Madison County, IA

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

In the latest recorded fiscal year (ended June 30, 2022), Truro took in $619 thousand and spent $653 thousand.

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

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Where it comes from

Fees for services (sewer, water)39%City taxes35%State tax money11%County and local tax money8.4%Federal tax money6.0%Fines and other0.6%

What stands out

11%

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

City taxes35%

Property tax
24%$146 thousand
Sales tax
11%$70 thousand

Fees for services39%

Fees for services
39%$240 thousand
What's in fees for servicesSewer; water and 2 more
  • Sewer$110 thousand
  • Water$107 thousand
  • Garbage collection$17 thousand
  • Other service charges$6 thousand

Amounts are by Census type of charge.

Federal tax money6.0%

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

From the federal government
6.0%$37 thousand

State tax money11%

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

From the state
11%$70 thousand

County and local tax money8.4%

Money passed on by the county or other local governments.

From the county and other local governments
8.4%$52 thousand

Fines and other0.6%

Interest, rents and other
0.6%$4 thousand

Where it goes

Water, sewer, trash and utilities39%Roads, transit and parking31%Running the government and other costs10%Parks, recreation and libraries7.4%Police, fire, courts and jails4.9%All other spending7.5%

What stands out

31%

of Truro's spending goes to roads, transit and parking.A typical U.S. city, town or village of under 10,000 people spends 10%.

Spending by category100%

Water, sewer, trash and utilities
39%$254 thousand
What's in water, sewer, trash and utilitiesWater supply; sewer systems and 1 more
  • Water supply$183 thousand
  • Sewer systems$66 thousand
  • Garbage and solid waste$5 thousand
Roads, transit and parking
31%$205 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$205 thousand
Running the government and other costs
10%$65 thousand
What's in running the government and other costsOther and not broken out; government buildings and 2 more
  • Other and not broken out$39 thousand
  • Government buildings$15 thousand
  • Finance, tax collection and budgeting$8 thousand
  • Central staff services (personnel, purchasing, technology)$3 thousand
Parks, recreation and libraries
7.4%$48 thousand
What's in parks, recreation and librariesLibraries and parks and recreation
  • Libraries$31 thousand
  • Parks and recreation$17 thousand
Police, fire, courts and jails
4.9%$32 thousand
What's in police, fire, courts and jailsPolice and fire protection
  • Police$18 thousand
  • Fire protection$14 thousand
Health and hospitals
3.7%$24 thousand
What's in health and hospitalsPublic health
  • Public health$24 thousand
Interest on debt
3.7%$24 thousand
Sent to other local governments
0.2%$1 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$1 thousand
Sources and moreWhere these numbers come from and what they cover

City of Truro. 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 Truro 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.