City government · Boone County, KY

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

In the latest recorded fiscal year (ended June 30, 2024), Florence took in $69.3 million and spent $54.1 million.

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

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Where it comes from

City taxes63%Fees for services (water, sewer)28%Fines and other5.9%State tax money2.4%Federal tax money0.1%

What stands out

36%

of Florence's money comes from a personal income tax.Most U.S. cities of 10,000 to 50,000 people get none.

City taxes63%

Individual income tax
36%$25.1 million
Property tax
15%$10.3 million
Other taxes
7.4%$5.1 million
What's in other taxesOther selective sales taxes; public utility taxes and 1 more
  • Other selective sales taxes$4.5 million
  • Public utility taxes$469 thousand
  • Alcoholic beverage licenses$164 thousand

Amounts are by Census tax category.

Business income tax
4.9%$3.4 million

Fees for services28%

Fees for services
28%$19.4 million
What's in fees for servicesWater; other service charges and 2 more
  • Water$7.3 million
  • Other service charges$6.6 million
  • Sewer$2.8 million
  • Parks and recreation$2.7 million

Amounts are by Census type of charge.

Federal tax money0.1%

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

From the federal government
0.1%$102 thousand

State tax money2.4%

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

From the state
2.4%$1.6 million

Fines and other5.9%

Interest, rents and other
4.7%$3.3 million
Fines
1.2%$824 thousand

Where it goes

Roads, transit and parking42%Police, fire, courts and jails32%Water, sewer, trash and utilities14%Running the government and other costs7.6%Parks, recreation and libraries5.2%Interest on debt<0.1%

What stands out

42%

of Florence's spending goes to roads, transit and parking.A typical U.S. city of 10,000 to 50,000 people spends 10%.

Spending by category100%

Roads, transit and parking
42%$22.5 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$22.5 million
Police, fire, courts and jails
32%$17.1 million
What's in police, fire, courts and jailsFire protection and police
  • Fire protection$8.6 million
  • Police$8.5 million
Water, sewer, trash and utilities
14%$7.5 million
What's in water, sewer, trash and utilitiesWater supply
  • Water supply$7.5 million
Running the government and other costs
7.6%$4.1 million
What's in running the government and other costsCentral staff services (personnel, purchasing, technology) and other and not broken out
  • Central staff services (personnel, purchasing, technology)$3.6 million
  • Other and not broken out$567 thousand
Parks, recreation and libraries
5.2%$2.8 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$2.8 million
Interest on debt
<0.1%$52 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$49 thousand
  • Interest on water supply debt$3 thousand
Sources and moreWhere these numbers come from and what they cover

City of Florence. 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 Florence 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.