City government · Montgomery County, KY

Mount Sterling's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Mount Sterling took in $20.2 million and spent $13.4 million.

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

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Where it comes from

City taxes48%Fees for services (water, sewer)45%Fines and other4.4%Federal tax money0.8%State tax money0.7%County and local tax money0.4%

What stands out

24%

of Mount Sterling's money comes from business income taxes.Most U.S. cities, towns and villages of under 10,000 people get none.

City taxes48%

Business income tax
24%$4.9 million
Other taxes
17%$3.5 million
What's in other taxesInsurance premium taxes; other selective sales taxes and 2 more
  • Insurance premium taxes$1.6 million
  • Other selective sales taxes$1.4 million
  • Public utility taxes$454 thousand
  • Other licenses$117 thousand

Amounts are by Census tax category.

Property tax
7.0%$1.4 million

Fees for services45%

Fees for services
45%$9.2 million
What's in fees for servicesWater; sewer and 2 more
  • Water$4.1 million
  • Sewer$2.9 million
  • Other service charges$1.2 million
  • Garbage collection$1.1 million

Amounts are by Census type of charge.

Federal tax money0.8%

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

From the federal government
0.8%$163 thousand

State tax money0.7%

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

From the state
0.7%$135 thousand

County and local tax money0.4%

Money passed on by the county or other local governments.

From the county and other local governments
0.4%$83 thousand

Fines and other4.4%

Interest, rents and other
4.2%$854 thousand
Fines
0.2%$37 thousand

Where it goes

Water, sewer, trash and utilities50%Police, fire, courts and jails18%Sent to other local governments13%Running the government and other costs8.8%Roads, transit and parking7.7%All other spending2.3%

What stands out

13%

of Mount Sterling's spending goes to local governments.Most U.S. cities, towns and villages of under 10,000 people spend nothing on this.

Spending by category100%

Water, sewer, trash and utilities
50%$6.7 million
What's in water, sewer, trash and utilitiesWater supply and sewer systems
  • Water supply$4.1 million
  • Sewer systems$2.6 million
Police, fire, courts and jails
18%$2.4 million
What's in police, fire, courts and jailsPolice
  • Police$2.4 million
Sent to other local governments
13%$1.8 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$1.8 million
Running the government and other costs
8.8%$1.2 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)$1.2 million
  • Other and not broken out$9 thousand
Roads, transit and parking
7.7%$1.0 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.0 million
Housing and community development
1.6%$209 thousand
Interest on debt
0.8%$102 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$81 thousand
  • Interest on water supply debt$21 thousand
Sources and moreWhere these numbers come from and what they cover

City of Mount Sterling. 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 Mount Sterling 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.