City government · Rice County, MN

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

In the latest recorded fiscal year (ended December 31, 2023), Faribault took in $45.0 million and spent $37.7 million.

Latest recorded year: ended December 31, 2023Comes fromGoes to

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Where it comes from

Fees for services (sewer, water)37%State tax money30%City taxes28%Fines and other4.0%County and local tax money0.5%

What stands out

30%

of Faribault's money comes from state tax money.A typical U.S. city of 10,000 to 50,000 people gets 7%.

City taxes28%

Property tax
26%$11.6 million
Other taxes
2.2%$999 thousand
What's in other taxesOther licenses and alcoholic beverage licenses
  • Other licenses$913 thousand
  • Alcoholic beverage licenses$86 thousand

Amounts are by Census tax category.

Fees for services37%

Fees for services
37%$16.8 million
What's in fees for servicesSewer; water and 3 more
  • Sewer$7.3 million
  • Water$4.5 million
  • Other service charges$3.5 million
  • Parks and recreation$1.3 million
  • Airport$150 thousand

Amounts are by Census type of charge.

State tax money30%

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

From the state
30%$13.6 million

County and local tax money0.5%

Money passed on by the county or other local governments.

From the county and other local governments
0.5%$239 thousand

Fines and other4.0%

Interest, rents and other
3.7%$1.7 million
Fines
0.3%$144 thousand

Where it goes

Parks, recreation and libraries26%Water, sewer, trash and utilities26%Running the government and other costs19%Police, fire, courts and jails18%Roads, transit and parking8.3%All other spending2.4%

What stands out

26%

of Faribault's spending goes to parks, recreation and libraries.A typical U.S. city of 10,000 to 50,000 people spends 5.6%.

Spending by category100%

Parks, recreation and libraries
26%$9.8 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$9.7 million
  • Libraries$165 thousand
Water, sewer, trash and utilities
26%$9.6 million
What's in water, sewer, trash and utilitiesSewer systems and water supply
  • Sewer systems$5.8 million
  • Water supply$3.9 million
Running the government and other costs
19%$7.3 million
What's in running the government and other costsCentral staff services (personnel, purchasing, technology); finance, tax collection and budgeting and 1 more
  • Central staff services (personnel, purchasing, technology)$4.0 million
  • Finance, tax collection and budgeting$3.1 million
  • Government buildings$165 thousand
Police, fire, courts and jails
18%$6.9 million
What's in police, fire, courts and jailsPolice; inspections and regulation and 1 more
  • Police$6.2 million
  • Inspections and regulation$493 thousand
  • Courts and legal services$223 thousand
Roads, transit and parking
8.3%$3.1 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$3.1 million
Housing and community development
1.8%$673 thousand
Interest on debt
0.6%$220 thousand
Sources and moreWhere these numbers come from and what they cover

City of Faribault. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended December 31, 2023.

What this covers. The money of City of Faribault 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.