City government · Lincoln County, KY

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

In the latest recorded fiscal year (ended June 30, 2022), Stanford took in $5.8 million and spent $3.1 million.

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

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Where it comes from

City taxes46%Fees for services (water, sewer)43%State tax money5.0%Federal tax money4.0%County and local tax money1.5%Fines and other1.2%

What stands out

20%

of Stanford's money comes from a personal income tax.Most U.S. cities, towns and villages of under 10,000 people get none.

City taxes46%

Individual income tax
20%$1.1 million
Other taxes
17%$955 thousand
What's in other taxesInsurance premium taxes; public utility taxes and 3 more
  • Insurance premium taxes$665 thousand
  • Public utility taxes$170 thousand
  • Alcoholic beverage licenses$75 thousand
  • Occupation and business licenses$43 thousand
  • Other licenses$2 thousand

Amounts are by Census tax category.

Property tax
7.4%$428 thousand
Business income tax
2.0%$117 thousand

Fees for services43%

Fees for services
43%$2.5 million
What's in fees for servicesWater; sewer and 1 more
  • Water$1.6 million
  • Sewer$864 thousand
  • Other service charges$9 thousand

Amounts are by Census type of charge.

Federal tax money4.0%

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

From the federal government
4.0%$233 thousand

State tax money5.0%

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

From the state
5.0%$286 thousand

County and local tax money1.5%

Money passed on by the county or other local governments.

From the county and other local governments
1.5%$88 thousand

Fines and other1.2%

Interest, rents and other
1.1%$61 thousand
Fines
0.2%$9 thousand

Where it goes

Police, fire, courts and jails46%Water, sewer, trash and utilities22%Roads, transit and parking14%Running the government and other costs10%Interest on debt7.2%All other spending1.0%

What stands out

46%

of Stanford's spending goes to police, fire, courts and jails.A typical U.S. city, town or village of under 10,000 people spends 11%.

Spending by category100%

Police, fire, courts and jails
46%$1.4 million
What's in police, fire, courts and jailsPolice; fire protection and 1 more
  • Police$1.1 million
  • Fire protection$327 thousand
  • Inspections and regulation$53 thousand
Water, sewer, trash and utilities
22%$679 thousand
What's in water, sewer, trash and utilitiesWater supply
  • Water supply$679 thousand
Roads, transit and parking
14%$435 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$435 thousand
Running the government and other costs
10%$328 thousand
What's in running the government and other costsCentral staff services (personnel, purchasing, technology)
  • Central staff services (personnel, purchasing, technology)$328 thousand
Interest on debt
7.2%$225 thousand
What's in interest on debtInterest on water supply debt and interest on general debt
  • Interest on water supply debt$213 thousand
  • Interest on general debt$12 thousand
Parks, recreation and libraries
0.6%$18 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$18 thousand
Housing and community development
0.4%$14 thousand
Sources and moreWhere these numbers come from and what they cover

City of Stanford. 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 Stanford 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.