City government · Stanly County, NC

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

In the latest recorded fiscal year (ended June 30, 2024), Albemarle took in $83.3 million and spent $85.4 million.

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

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Where it comes from

Fees for services (electric power, water)68%City taxes19%Fines and other5.0%Federal tax money4.8%State tax money3.3%

What stands out

68%

of Albemarle's money comes from fees for services such as water, sewer and parking.A typical U.S. city of 10,000 to 50,000 people gets 30%.

City taxes19%

Property tax
11%$8.8 million
Sales tax
7.3%$6.1 million
Other taxes
1.3%$1.1 million
What's in other taxesAlcoholic beverage taxes; motor vehicle licenses and 3 more
  • Alcoholic beverage taxes$440 thousand
  • Motor vehicle licenses$251 thousand
  • Other licenses$205 thousand
  • Other selective sales taxes$156 thousand
  • Occupation and business licenses$1 thousand

Amounts are by Census tax category.

Fees for services68%

Fees for services
68%$56.4 million
What's in fees for servicesElectric power; water and 6 more
  • Electric power$28.9 million
  • Water$11.4 million
  • Garbage collection$5.6 million
  • Liquor stores$4.6 million
  • Sewer$4.2 million
  • Other government-run businesses$1.4 million
  • Parks and recreation$223 thousand
  • Other service charges$85 thousand

Amounts are by Census type of charge.

Federal tax money4.8%

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

From the federal government
4.8%$4.0 million

State tax money3.3%

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

From the state
3.3%$2.8 million

County and local tax money<0.1%

Money passed on by the county or other local governments.

From the county and other local governments
<0.1%$23 thousand

Fines and other5.0%

Interest, rents and other
5.0%$4.2 million
Fines
<0.1%$6 thousand

Where it goes

Water, sewer, trash and utilities65%Police, fire, courts and jails16%Running the government and other costs6.3%Housing and community development5.6%Parks, recreation and libraries3.7%All other spending3.3%

What stands out

65%

of Albemarle's spending goes to water, sewer, trash and other utilities.A typical U.S. city of 10,000 to 50,000 people spends 24%.

Spending by category100%

Water, sewer, trash and utilities
65%$55.8 million
What's in water, sewer, trash and utilitiesElectric power; water supply and 3 more
  • Electric power$27.4 million
  • Water supply$12.4 million
  • Sewer systems$6.5 million
  • Garbage and solid waste$5.5 million
  • Liquor stores$3.9 million
Police, fire, courts and jails
16%$13.5 million
What's in police, fire, courts and jailsPolice; fire protection and 1 more
  • Police$7.7 million
  • Fire protection$5.7 million
  • Courts and legal services$80 thousand
Running the government and other costs
6.3%$5.4 million
What's in running the government and other costsGovernment buildings; other and not broken out and 2 more
  • Government buildings$2.4 million
  • Other and not broken out$1.9 million
  • Central staff services (personnel, purchasing, technology)$647 thousand
  • Finance, tax collection and budgeting$526 thousand
Housing and community development
5.6%$4.8 million
Parks, recreation and libraries
3.7%$3.1 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$3.1 million
Roads, transit and parking
2.7%$2.3 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$2.3 million
Interest on debt
0.6%$479 thousand
What's in interest on debtInterest on general debt; interest on water supply debt and 1 more
  • Interest on general debt$326 thousand
  • Interest on water supply debt$152 thousand
  • Interest on electric power debt$1 thousand
Health and hospitals
<0.1%$33 thousand
What's in health and hospitalsPublic health
  • Public health$33 thousand
Sent to other local governments
<0.1%$13 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$13 thousand
Sources and moreWhere these numbers come from and what they cover

City of Albemarle. 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 City of Albemarle 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.