Village government · Houghton County, MI

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

In the latest recorded fiscal year (ended February 28, 2022), Laurium took in $2.8 million and spent $3.1 million.

Latest recorded year: ended February 28, 2022Comes fromGoes to

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Where it comes from

State tax money28%Federal tax money27%Village taxes20%Fees for services (garbage collection, housing)13%Fines and other11%County and local tax money0.9%

What stands out

27%

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

Village taxes20%

Property tax
19%$536 thousand
Other taxes
0.9%$24 thousand
What's in other taxesOccupation and business licenses
  • Occupation and business licenses$24 thousand

Amounts are by Census tax category.

Fees for services13%

Fees for services
13%$377 thousand
What's in fees for servicesGarbage collection; housing and 3 more
  • Garbage collection$108 thousand
  • Housing$100 thousand
  • Water$65 thousand
  • Other service charges$55 thousand
  • Parks and recreation$49 thousand

Amounts are by Census type of charge.

Federal tax money27%

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

From the federal government
27%$761 thousand

State tax money28%

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

From the state
28%$776 thousand

County and local tax money0.9%

Money passed on by the county or other local governments.

From the county and other local governments
0.9%$24 thousand

Fines and other11%

Interest, rents and other
11%$296 thousand

Where it goes

Roads, transit and parking42%Police, fire, courts and jails34%Running the government and other costs11%Water, sewer, trash and utilities7.1%Sent to other local governments2.5%All other spending3.6%

What stands out

42%

of Laurium's spending goes to roads, transit and parking.A typical U.S. city, town or village of under 10,000 people spends 10%.

Spending by category100%

Roads, transit and parking
42%$1.3 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.3 million
Police, fire, courts and jails
34%$1.0 million
What's in police, fire, courts and jailsFire protection; police and 1 more
  • Fire protection$625 thousand
  • Police$415 thousand
  • Courts and legal services$1 thousand
Running the government and other costs
11%$345 thousand
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$202 thousand
  • Central staff services (personnel, purchasing, technology)$106 thousand
  • Government buildings$29 thousand
  • Finance, tax collection and budgeting$8 thousand
Water, sewer, trash and utilities
7.1%$218 thousand
What's in water, sewer, trash and utilitiesGarbage and solid waste and sewer systems
  • Garbage and solid waste$189 thousand
  • Sewer systems$29 thousand
Sent to other local governments
2.5%$75 thousand
What's in sent to other local governmentsSent to local governments: other and not broken out
  • Sent to local governments: other and not broken out$75 thousand
Parks, recreation and libraries
2.4%$74 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$74 thousand
Interest on debt
1.2%$36 thousand
What's in interest on debtInterest on water supply debt and interest on general debt
  • Interest on water supply debt$23 thousand
  • Interest on general debt$13 thousand
Sources and moreWhere these numbers come from and what they cover

Village of Laurium. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended February 28, 2022. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of Village of Laurium 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.