City government · Floyd County, KY

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

In the latest recorded fiscal year (ended June 30, 2024), Prestonsburg took in $22.8 million and spent $18.0 million.

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

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Where it comes from

Fees for services (water, sewer)55%City taxes36%Fines and other7.9%State tax money1.1%County and local tax money0.5%

What stands out

14%

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

City taxes36%

Other taxes
18%$4.1 million
What's in other taxesOther selective sales taxes; insurance premium taxes and 3 more
  • Other selective sales taxes$2.3 million
  • Insurance premium taxes$1.2 million
  • Occupation and business licenses$447 thousand
  • Public utility taxes$207 thousand
  • Other licenses$12 thousand

Amounts are by Census tax category.

Business income tax
14%$3.1 million
Property tax
4.1%$941 thousand

Fees for services55%

Fees for services
55%$12.5 million
What's in fees for servicesWater; sewer and 4 more
  • Water$7.2 million
  • Sewer$2.4 million
  • Gas$1.5 million
  • Garbage collection$928 thousand
  • Other service charges$395 thousand
  • Parking$5 thousand

Amounts are by Census type of charge.

State tax money1.1%

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

From the state
1.1%$244 thousand

County and local tax money0.5%

Money passed on by the county or other local governments.

From the county and other local governments
0.5%$113 thousand

Fines and other7.9%

Interest, rents and other
7.8%$1.8 million
Fines
<0.1%$8 thousand

Where it goes

Water, sewer, trash and utilities60%Police, fire, courts and jails18%Running the government and other costs14%Sent to other local governments4.1%Interest on debt2.0%All other spending2.5%

What stands out

60%

of Prestonsburg's spending goes to water, sewer, trash and other utilities.A typical U.S. city, town or village of under 10,000 people spends 32%.

Spending by category100%

Water, sewer, trash and utilities
60%$10.7 million
What's in water, sewer, trash and utilitiesWater supply; sewer systems and 2 more
  • Water supply$4.9 million
  • Sewer systems$3.6 million
  • Garbage and solid waste$1.1 million
  • Gas supply$1.1 million
Police, fire, courts and jails
18%$3.2 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$1.7 million
  • Fire protection$1.5 million
Running the government and other costs
14%$2.5 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)$1.8 million
  • Other and not broken out$732 thousand
Sent to other local governments
4.1%$745 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$745 thousand
Interest on debt
2.0%$362 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$228 thousand
  • Interest on water supply debt$134 thousand
Parks, recreation and libraries
1.8%$322 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$322 thousand
Roads, transit and parking
0.7%$120 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$120 thousand
Sources and moreWhere these numbers come from and what they cover

City of Prestonsburg. 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 Prestonsburg 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.