City government · Wabasha County, MN

Lake City's money: where it comes from and where it goes

In the latest recorded fiscal year (ended December 31, 2023), Lake City took in $30.2 million and spent $27.4 million.

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

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Where it comes from

Fees for services (electric power, parks and recreation)68%City taxes15%State tax money13%Fines and other2.6%Federal tax money1.2%County and local tax money0.2%

What stands out

68%

of Lake City's money comes from fees for services such as water, sewer and parking.A typical U.S. city, town or village of under 10,000 people gets 35%.

City taxes15%

Property tax
14%$4.2 million
Other taxes
1.0%$298 thousand
What's in other taxesOther licenses; other selective sales taxes and 1 more
  • Other licenses$153 thousand
  • Other selective sales taxes$80 thousand
  • Public utility taxes$65 thousand

Amounts are by Census tax category.

Fees for services68%

Fees for services
68%$20.4 million
What's in fees for servicesElectric power; parks and recreation and 5 more
  • Electric power$12.1 million
  • Parks and recreation$3.6 million
  • Sewer$1.6 million
  • Other service charges$1.4 million
  • Water$1.2 million
  • Road charges$295 thousand
  • Garbage collection$228 thousand

Amounts are by Census type of charge.

Federal tax money1.2%

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

From the federal government
1.2%$367 thousand

State tax money13%

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

From the state
13%$4.0 million

County and local tax money0.2%

Money passed on by the county or other local governments.

From the county and other local governments
0.2%$68 thousand

Fines and other2.6%

Interest, rents and other
2.4%$737 thousand
Fines
0.1%$40 thousand

Where it goes

Water, sewer, trash and utilities52%Roads, transit and parking15%Parks, recreation and libraries14%Police, fire, courts and jails7.1%Running the government and other costs6.4%All other spending6.1%

What stands out

14%

of Lake City's spending goes to parks, recreation and libraries.A typical U.S. city, town or village of under 10,000 people spends 2.2%.

Spending by category100%

Water, sewer, trash and utilities
52%$14.1 million
What's in water, sewer, trash and utilitiesElectric power; sewer systems and 2 more
  • Electric power$11.3 million
  • Sewer systems$1.8 million
  • Water supply$1.0 million
  • Garbage and solid waste$84 thousand
Roads, transit and parking
15%$4.1 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$4.1 million
Parks, recreation and libraries
14%$3.9 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$3.5 million
  • Libraries$338 thousand
Police, fire, courts and jails
7.1%$1.9 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$1.6 million
  • Fire protection$285 thousand
Running the government and other costs
6.4%$1.7 million
What's in running the government and other costsOther and not broken out; finance, tax collection and budgeting and 1 more
  • Other and not broken out$975 thousand
  • Finance, tax collection and budgeting$677 thousand
  • Central staff services (personnel, purchasing, technology)$91 thousand
Health and hospitals
5.8%$1.6 million
What's in health and hospitalsPublic health
  • Public health$1.6 million
Interest on debt
0.3%$79 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$73 thousand
  • Interest on water supply debt$6 thousand
Sources and moreWhere these numbers come from and what they cover

City of Lake City. 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 Lake City 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.