City government · Franklin County, KY

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

In the latest recorded fiscal year (ended June 30, 2024), Frankfort took in $183 million and spent $154 million.

Latest recorded year: ended June 30, 2024Estimated by the U.S. Census BureauComes fromGoes to

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Where it comes from

Fees for services (electric power, water)70%City taxes19%Fines and other5.2%Federal tax money4.9%County and local tax money0.6%State tax money0.5%

What stands out

11%

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

City taxes19%

Individual income tax
11%$19.9 million
Other taxes
3.9%$7.2 million
What's in other taxesInsurance premium taxes; other licenses and 1 more
  • Insurance premium taxes$6.0 million
  • Other licenses$1.1 million
  • Alcoholic beverage licenses$57 thousand

Amounts are by Census tax category.

Property tax
2.4%$4.3 million
Business income tax
2.0%$3.7 million

Fees for services70%

Fees for services
70%$128 million
What's in fees for servicesElectric power; other government-run businesses and 5 more
  • Electric power$63.8 million
  • Other government-run businesses$34.3 million
  • Water$13.9 million
  • Sewer$12.1 million
  • Other service charges$2.3 million
  • Parks and recreation$1.1 million
  • Garbage collection$57 thousand

Amounts are by Census type of charge.

Federal tax money4.9%

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

From the federal government
4.9%$9.0 million

State tax money0.5%

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

From the state
0.5%$901 thousand

County and local tax money0.6%

Money passed on by the county or other local governments.

From the county and other local governments
0.6%$1.2 million

Fines and other5.2%

Interest, rents and other
5.2%$9.4 million
Fines
<0.1%$66 thousand

Where it goes

Water, sewer, trash and utilities54%Running the government and other costs27%Police, fire, courts and jails10%Roads, transit and parking5.0%Parks, recreation and libraries2.7%All other spending1.8%

What stands out

54%

of Frankfort's spending goes to water, sewer, trash and other utilities.A typical U.S. city of 10,000 to 50,000 people spends 24%.

Spending by category100%

Water, sewer, trash and utilities
54%$82.2 million
What's in water, sewer, trash and utilitiesElectric power; sewer systems and 2 more
  • Electric power$55.7 million
  • Sewer systems$13.1 million
  • Water supply$12.1 million
  • Garbage and solid waste$1.3 million
Running the government and other costs
27%$41.4 million
What's in running the government and other costsOther government-run businesses; central staff services (personnel, purchasing, technology) and 2 more
  • Other government-run businesses$34.9 million
  • Central staff services (personnel, purchasing, technology)$4.0 million
  • Other and not broken out$2.5 million
  • Finance, tax collection and budgeting$8 thousand
Police, fire, courts and jails
10%$15.4 million
What's in police, fire, courts and jailsFire protection and police
  • Fire protection$9.0 million
  • Police$6.3 million
Roads, transit and parking
5.0%$7.7 million
What's in roads, transit and parkingRoads and highways; public transit and 1 more
  • Roads and highways$6.1 million
  • Public transit$1.3 million
  • Parking$246 thousand
Parks, recreation and libraries
2.7%$4.1 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$4.1 million
Interest on debt
1.4%$2.2 million
What's in interest on debtInterest on general debt; interest on water supply debt and 1 more
  • Interest on general debt$1.1 million
  • Interest on water supply debt$634 thousand
  • Interest on electric power debt$423 thousand
Housing and community development
0.4%$619 thousand
Sources and moreWhere these numbers come from and what they cover

City of Frankfort. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended June 30, 2024. Most of this government's figures were estimated by the U.S. Census Bureau from a sample; the government did not report them itself.

What this covers. The money of City of Frankfort 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.