City government · Simpson County, KY

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

In the latest recorded fiscal year (ended June 30, 2024), Franklin took in $20.0 million and spent $22.2 million.

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

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Where it comes from

City taxes50%Fees for services (water, sewer)36%Fines and other11%State tax money2.0%Federal tax money0.7%

What stands out

19%

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

City taxes50%

Other taxes
21%$4.1 million
What's in other taxesInsurance premium taxes; alcoholic beverage licenses and 2 more
  • Insurance premium taxes$2.9 million
  • Alcoholic beverage licenses$826 thousand
  • Public utility taxes$362 thousand
  • Occupation and business licenses$42 thousand

Amounts are by Census tax category.

Individual income tax
19%$3.9 million
Property tax
8.3%$1.7 million
Business income tax
1.6%$327 thousand

Fees for services36%

Fees for services
36%$7.2 million
What's in fees for servicesWater; sewer and 2 more
  • Water$3.3 million
  • Sewer$2.9 million
  • Garbage collection$977 thousand
  • Other service charges$126 thousand

Amounts are by Census type of charge.

Federal tax money0.7%

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

From the federal government
0.7%$130 thousand

State tax money2.0%

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

From the state
2.0%$392 thousand

Fines and other11%

Interest, rents and other
10%$2.0 million
Fines
1.3%$269 thousand

Where it goes

Police, fire, courts and jails42%Water, sewer, trash and utilities29%Running the government and other costs10%Sent to other local governments9.1%Roads, transit and parking7.1%All other spending2.6%

What stands out

9.1%

of Franklin's spending goes to local governments.Most U.S. cities of 10,000 to 50,000 people spend nothing on this.

Spending by category100%

Police, fire, courts and jails
42%$9.3 million
What's in police, fire, courts and jailsPolice; inspections and regulation and 1 more
  • Police$9.2 million
  • Inspections and regulation$77 thousand
  • Fire protection$5 thousand
Water, sewer, trash and utilities
29%$6.4 million
What's in water, sewer, trash and utilitiesSewer systems; water supply and 1 more
  • Sewer systems$3.1 million
  • Water supply$2.4 million
  • Garbage and solid waste$952 thousand
Running the government and other costs
10%$2.3 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)$2.0 million
  • Other and not broken out$298 thousand
Sent to other local governments
9.1%$2.0 million
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$2.0 million
Roads, transit and parking
7.1%$1.6 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.6 million
Interest on debt
1.4%$320 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$196 thousand
  • Interest on water supply debt$124 thousand
Parks, recreation and libraries
1.1%$250 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$250 thousand
Sources and moreWhere these numbers come from and what they cover

City of Franklin. 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 Franklin 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.