City government · Jefferson County, KY

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

In the latest recorded fiscal year (ended June 30, 2022), Prospect took in $4.9 million and spent $4.7 million.

Latest recorded year: ended June 30, 2022Comes fromGoes to

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Where it comes from

City taxes70%State tax money30%Fees for services0.4%Fines and other0.1%

What stands out

31%

of Prospect's money comes from taxes other than property, sales and income taxes.A typical U.S. city, town or village of under 10,000 people gets 2.5%.

City taxes70%

Property tax
39%$1.9 million
Other taxes
31%$1.5 million
What's in other taxesInsurance premium taxes; public utility taxes and 2 more
  • Insurance premium taxes$1.4 million
  • Public utility taxes$99 thousand
  • Other licenses$38 thousand
  • Occupation and business licenses$9 thousand

Amounts are by Census tax category.

Fees for services0.4%

Fees for services
0.4%$19 thousand
What's in fees for servicesOther service charges
  • Other service charges$19 thousand

Amounts are by Census type of charge.

State tax money30%

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

From the state
30%$1.5 million

Fines and other0.1%

Interest, rents and other
0.1%$6 thousand

Where it goes

Police, fire, courts and jails23%Running the government and other costs23%Water, sewer, trash and utilities16%Social services14%Parks, recreation and libraries11%All other spending12%

What stands out

14%

of Prospect's spending goes to social services.Most U.S. cities, towns and villages of under 10,000 people spend nothing on this.

Spending by category100%

Police, fire, courts and jails
23%$1.1 million
What's in police, fire, courts and jailsPolice
  • Police$1.1 million
Running the government and other costs
23%$1.1 million
What's in running the government and other costsCentral staff services (personnel, purchasing, technology)
  • Central staff services (personnel, purchasing, technology)$1.1 million
Water, sewer, trash and utilities
16%$772 thousand
What's in water, sewer, trash and utilitiesGarbage and solid waste
  • Garbage and solid waste$772 thousand
Social services
14%$670 thousand
What's in social servicesOther public welfare
  • Other public welfare$670 thousand
Parks, recreation and libraries
11%$539 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$539 thousand
Roads, transit and parking
11%$503 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$503 thousand
Sent to other local governments
0.9%$41 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$41 thousand
Sources and moreWhere these numbers come from and what they cover

City of Prospect. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended June 30, 2022. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of City of Prospect 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.