School district · Berrien County, MI

Lake Michigan College District's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Lake Michigan College District took in $47.5 million and spent $41.1 million.

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

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Where it comes from

School district taxes53%State tax money22%Fees for services (college tuition, university housing and dining)18%Federal tax money4.3%Fines and other2.1%County and local tax money0.4%

What stands out

53%

of Lake Michigan College District's money comes from property tax.A typical community or technical college district gets 15%.

School district taxes53%

Property tax
53%$25.2 million

Fees for services18%

Fees for services
18%$8.7 million
What's in fees for servicesCollege tuition and university housing and dining
  • College tuition$7.0 million
  • University housing and dining$1.8 million

Amounts are by Census type of charge.

Federal tax money4.3%

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

From the federal government
4.3%$2.0 million

State tax money22%

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

From the state
22%$10.3 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%$181 thousand

Fines and other2.1%

Interest, rents and other
2.1%$1.0 million

Where it goes

Schools and colleges98%Interest on debt1.9%

Spending by category100%

Schools and colleges
98%$40.3 million
What's in schools and collegesColleges and universities; college housing, dining and bookstores and 1 more
  • Colleges and universities$33.7 million
  • College housing, dining and bookstores$3.9 million
  • Scholarships and other education subsidies$2.8 million
Interest on debt
1.9%$784 thousand
Sources and moreWhere these numbers come from and what they cover

Lake Michigan College District. 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 Lake Michigan College District 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.