City government · Hennepin County, MN

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

In the latest recorded fiscal year (ended December 31, 2023), Richfield took in $85.9 million and spent $95.8 million.

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

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Where it comes from

Fees for services (liquor stores, water)40%City taxes35%State tax money12%Federal tax money7.1%Fines and other4.3%County and local tax money1.8%

What stands out

7.1%

of Richfield's money comes from federal tax money.A typical U.S. city of 10,000 to 50,000 people gets 1.2%.

City taxes35%

Property tax
32%$27.2 million
Other taxes
3.8%$3.2 million
What's in other taxesPublic utility taxes; other licenses and 1 more
  • Public utility taxes$2.3 million
  • Other licenses$982 thousand
  • Other selective sales taxes$8 thousand

Amounts are by Census tax category.

Fees for services40%

Fees for services
40%$34.0 million
What's in fees for servicesLiquor stores; water and 3 more
  • Liquor stores$15.3 million
  • Water$11.9 million
  • Road charges$2.9 million
  • Parks and recreation$2.1 million
  • Other service charges$1.8 million

Amounts are by Census type of charge.

Federal tax money7.1%

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

From the federal government
7.1%$6.1 million

State tax money12%

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

From the state
12%$10.1 million

County and local tax money1.8%

Money passed on by the county or other local governments.

From the county and other local governments
1.8%$1.5 million

Fines and other4.3%

Interest, rents and other
4.1%$3.5 million
Fines
0.2%$209 thousand

Where it goes

Water, sewer, trash and utilities27%Roads, transit and parking25%Police, fire, courts and jails19%Running the government and other costs12%Parks, recreation and libraries6.7%All other spending9.9%

What stands out

25%

of Richfield's spending goes to roads, transit and parking.A typical U.S. city of 10,000 to 50,000 people spends 10%.

Spending by category100%

Water, sewer, trash and utilities
27%$26.1 million
What's in water, sewer, trash and utilitiesWater supply; liquor stores and 1 more
  • Water supply$13.3 million
  • Liquor stores$12.6 million
  • Garbage and solid waste$190 thousand
Roads, transit and parking
25%$24.2 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$24.2 million
Police, fire, courts and jails
19%$18.1 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$12.5 million
  • Fire protection$5.6 million
Running the government and other costs
12%$11.5 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$9.4 million
  • Finance, tax collection and budgeting$1.9 million
  • Central staff services (personnel, purchasing, technology)$221 thousand
Parks, recreation and libraries
6.7%$6.4 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$6.4 million
Interest on debt
5.1%$4.8 million
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$4.7 million
  • Interest on water supply debt$172 thousand
Housing and community development
4.7%$4.5 million
Health and hospitals
0.1%$104 thousand
What's in health and hospitalsPublic health
  • Public health$104 thousand
Sources and moreWhere these numbers come from and what they cover

City of Richfield. 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 Richfield 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.