Town government · Stanly County, NC

New London's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2022), New London took in $1.2 million and spent $869 thousand.

Latest recorded year: ended June 30, 2022Comes fromGoes to

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Where it comes from

Town taxes40%Fees for services (water)30%State tax money27%Fines and other2.9%

What stands out

19%

of New London's money comes from sales tax.Most U.S. cities, towns and villages of under 10,000 people get none.

Town taxes40%

Property tax
21%$247 thousand
Sales tax
19%$229 thousand

Fees for services30%

Fees for services
30%$349 thousand
What's in fees for servicesWater and other government-run businesses
  • Water$342 thousand
  • Other government-run businesses$7 thousand

Amounts are by Census type of charge.

State tax money27%

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

From the state
27%$324 thousand

Fines and other2.9%

Interest, rents and other
2.9%$34 thousand

Where it goes

Running the government and other costs48%Water, sewer, trash and utilities38%Parks, recreation and libraries6.7%Roads, transit and parking6.0%Police, fire, courts and jails2.1%

What stands out

48%

of New London's spending goes to running the government and other costs.A typical U.S. city, town or village of under 10,000 people spends 22%.

Spending by category100%

Running the government and other costs
48%$415 thousand
What's in running the government and other costsOther and not broken out and central staff services (personnel, purchasing, technology)
  • Other and not broken out$264 thousand
  • Central staff services (personnel, purchasing, technology)$151 thousand
Water, sewer, trash and utilities
38%$326 thousand
What's in water, sewer, trash and utilitiesWater supply; sewer systems and 1 more
  • Water supply$175 thousand
  • Sewer systems$103 thousand
  • Garbage and solid waste$48 thousand
Parks, recreation and libraries
6.7%$58 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$58 thousand
Roads, transit and parking
6.0%$52 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$52 thousand
Police, fire, courts and jails
2.1%$18 thousand
What's in police, fire, courts and jailsPolice
  • Police$18 thousand
Sources and moreWhere these numbers come from and what they cover

Town of New London. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended June 30, 2022. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of Town of New London 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.