City government · Iron County, MI

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

In the latest recorded fiscal year (ended June 30, 2022), Gaastra took in $594 thousand and spent $559 thousand.

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

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Where it comes from

State tax money32%Fees for services (sewer, water)29%Fines and other18%City taxes15%Federal tax money3.7%County and local tax money2.2%

What stands out

18%

of Gaastra's money comes from interest, rents and other revenue.A typical U.S. city, town or village of under 10,000 people gets 3%.

City taxes15%

Property tax
15%$91 thousand

Fees for services29%

Fees for services
29%$172 thousand
What's in fees for servicesSewer; water and 1 more
  • Sewer$85 thousand
  • Water$72 thousand
  • Garbage collection$15 thousand

Amounts are by Census type of charge.

Federal tax money3.7%

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

From the federal government
3.7%$22 thousand

State tax money32%

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

From the state
32%$189 thousand

County and local tax money2.2%

Money passed on by the county or other local governments.

From the county and other local governments
2.2%$13 thousand

Fines and other18%

Interest, rents and other
18%$107 thousand

Where it goes

Running the government and other costs42%Water, sewer, trash and utilities29%Roads, transit and parking20%Police, fire, courts and jails3.9%Interest on debt3.0%Parks, recreation and libraries1.4%

What stands out

42%

of Gaastra's spending goes to running the government and other costs.A typical U.S. city, town or village of under 10,000 people spends 22%.

Spending by category100%

Running the government and other costs
42%$237 thousand
What's in running the government and other costsFinance, tax collection and budgeting; central staff services (personnel, purchasing, technology) and 2 more
  • Finance, tax collection and budgeting$79 thousand
  • Central staff services (personnel, purchasing, technology)$62 thousand
  • Other and not broken out$53 thousand
  • Government buildings$43 thousand
Water, sewer, trash and utilities
29%$164 thousand
What's in water, sewer, trash and utilitiesSewer systems and garbage and solid waste
  • Sewer systems$147 thousand
  • Garbage and solid waste$17 thousand
Roads, transit and parking
20%$111 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$111 thousand
Police, fire, courts and jails
3.9%$22 thousand
What's in police, fire, courts and jailsCourts and legal services and fire protection
  • Courts and legal services$12 thousand
  • Fire protection$10 thousand
Interest on debt
3.0%$17 thousand
What's in interest on debtInterest on water supply debt and interest on general debt
  • Interest on water supply debt$11 thousand
  • Interest on general debt$6 thousand
Parks, recreation and libraries
1.4%$8 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$8 thousand
Sources and moreWhere these numbers come from and what they cover

City of Gaastra. 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 Gaastra 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.