City government · Houghton County, MI

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

In the latest recorded fiscal year (ended June 30, 2024), Hancock took in $12.7 million and spent $12.3 million.

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

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Where it comes from

Federal tax money28%State tax money24%Fees for services (water, sewer)24%City taxes20%Fines and other3.9%County and local tax money0.4%

What stands out

28%

of Hancock's money comes from federal tax money.Most U.S. cities, towns and villages of under 10,000 people get none.

City taxes20%

Property tax
20%$2.5 million
Other taxes
0.4%$51 thousand
What's in other taxesOther licenses
  • Other licenses$51 thousand

Amounts are by Census tax category.

Fees for services24%

Fees for services
24%$3.0 million
What's in fees for servicesWater; sewer and 6 more
  • Water$1.2 million
  • Sewer$837 thousand
  • Housing$418 thousand
  • Parks and recreation$270 thousand
  • Garbage collection$182 thousand
  • Other service charges$63 thousand
  • Transit fares$44 thousand
  • Parking$12 thousand

Amounts are by Census type of charge.

Federal tax money28%

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

From the federal government
28%$3.5 million

State tax money24%

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

From the state
24%$3.1 million

County and local tax money0.4%

Money passed on by the county or other local governments.

From the county and other local governments
0.4%$55 thousand

Fines and other3.9%

Interest, rents and other
3.9%$494 thousand

Where it goes

Running the government and other costs44%Water, sewer, trash and utilities18%Police, fire, courts and jails14%Parks, recreation and libraries13%Sent to other local governments7.9%Interest on debt2.4%

What stands out

7.9%

of Hancock's spending goes to local governments.Most U.S. cities, towns and villages of under 10,000 people spend nothing on this.

Spending by category100%

Running the government and other costs
44%$5.5 million
What's in running the government and other costsOther and not broken out; central staff services (personnel, purchasing, technology) and 2 more
  • Other and not broken out$5.0 million
  • Central staff services (personnel, purchasing, technology)$266 thousand
  • Government buildings$128 thousand
  • Finance, tax collection and budgeting$107 thousand
Water, sewer, trash and utilities
18%$2.3 million
What's in water, sewer, trash and utilitiesSewer systems and garbage and solid waste
  • Sewer systems$2.0 million
  • Garbage and solid waste$263 thousand
Police, fire, courts and jails
14%$1.7 million
What's in police, fire, courts and jailsPolice; fire protection and 2 more
  • Police$1.5 million
  • Fire protection$128 thousand
  • Courts and legal services$125 thousand
  • Inspections and regulation$42 thousand
Parks, recreation and libraries
13%$1.6 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$1.6 million
Sent to other local governments
7.9%$967 thousand
What's in sent to other local governmentsSent to local governments: other and not broken out and sent to the state government
  • Sent to local governments: other and not broken out$771 thousand
  • Sent to the state government$196 thousand
Interest on debt
2.4%$297 thousand
What's in interest on debtInterest on water supply debt and interest on general debt
  • Interest on water supply debt$184 thousand
  • Interest on general debt$113 thousand
Sources and moreWhere these numbers come from and what they cover

City of Hancock. 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 Hancock 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.