School district · Otter Tail County, MN

Underwood Independent School District 550's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Underwood Independent School District 550 took in $9.0 million and spent $11.0 million.

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

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Where it comes from

State tax money82%School district taxes10%Fines and other5.8%Fees for services (school tuition and transportation, school lunches)1.8%County and local tax money0.5%

What stands out

10%

of Underwood Independent School District 550's money comes from property tax.A typical school district with fewer than 5,000 students gets 28%.

School district taxes10%

Property tax
10%$923 thousand

Fees for services1.8%

Fees for services
1.8%$164 thousand
What's in fees for servicesSchool tuition and transportation; other school charges and 1 more
  • School tuition and transportation$88 thousand
  • Other school charges$66 thousand
  • School lunches$10 thousand

Amounts are by Census type of charge.

State tax money82%

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

From the state
82%$7.4 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%$42 thousand

Fines and other5.8%

Interest, rents and other
5.8%$527 thousand

Where it goes

Schools and colleges96%Interest on debt2.5%Sent to other local governments1.9%

Spending by category100%

Schools and colleges
96%$10.5 million
What's in schools and collegesElementary and secondary schools
  • Elementary and secondary schools$10.5 million
Interest on debt
2.5%$279 thousand
Sent to other local governments
1.9%$207 thousand
What's in sent to other local governmentsSent to school districts
  • Sent to school districts$207 thousand
Sources and moreWhere these numbers come from and what they cover

Underwood Independent School District 550. 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 Underwood Independent School District 550 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.