City government · Woodford County, KY

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

In the latest recorded fiscal year (ended June 30, 2024), Versailles took in $27.7 million and spent $30.6 million.

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

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Where it comes from

Fees for services (sewer, water)35%City taxes34%County and local tax money13%Federal tax money11%Fines and other4.9%State tax money2.0%

What stands out

15%

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

City taxes34%

Individual income tax
15%$4.2 million
Other taxes
13%$3.5 million
What's in other taxesInsurance premium taxes; public utility taxes and 2 more
  • Insurance premium taxes$2.7 million
  • Public utility taxes$588 thousand
  • Other licenses$152 thousand
  • Occupation and business licenses$15 thousand

Amounts are by Census tax category.

Property tax
3.2%$885 thousand
Business income tax
3.0%$829 thousand

Fees for services35%

Fees for services
35%$9.8 million
What's in fees for servicesSewer; water and 1 more
  • Sewer$4.4 million
  • Water$3.9 million
  • Other service charges$1.5 million

Amounts are by Census type of charge.

Federal tax money11%

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

From the federal government
11%$3.1 million

State tax money2.0%

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

From the state
2.0%$541 thousand

County and local tax money13%

Money passed on by the county or other local governments.

From the county and other local governments
13%$3.5 million

Fines and other4.9%

Interest, rents and other
4.5%$1.2 million
Fines
0.4%$118 thousand

Where it goes

Running the government and other costs40%Police, fire, courts and jails27%Water, sewer, trash and utilities21%Roads, transit and parking6.4%Interest on debt5.5%

What stands out

40%

of Versailles' spending goes to running the government and other costs.A typical U.S. city of 10,000 to 50,000 people spends 18%.

Spending by category100%

Running the government and other costs
40%$12.4 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)$6.3 million
  • Other and not broken out$6.1 million
Police, fire, courts and jails
27%$8.1 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$5.3 million
  • Fire protection$2.8 million
Water, sewer, trash and utilities
21%$6.5 million
What's in water, sewer, trash and utilitiesWater supply and sewer systems
  • Water supply$3.3 million
  • Sewer systems$3.2 million
Roads, transit and parking
6.4%$2.0 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$2.0 million
Interest on debt
5.5%$1.7 million
What's in interest on debtInterest on water supply debt and interest on general debt
  • Interest on water supply debt$1.2 million
  • Interest on general debt$425 thousand
Sources and moreWhere these numbers come from and what they cover

City of Versailles. 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 Versailles 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.