Town government · Rowan County, NC

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

In the latest recorded fiscal year (ended June 30, 2024), Spencer took in $5.3 million and spent $6.3 million.

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

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Where it comes from

Town taxes61%State tax money23%Fees for services (garbage collection)9.3%Fines and other5.0%County and local tax money1.4%

What stands out

22%

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

Town taxes61%

Property tax
39%$2.1 million
Sales tax
22%$1.2 million
Other taxes
<0.1%$3 thousand
What's in other taxesOther licenses
  • Other licenses$3 thousand

Amounts are by Census tax category.

Fees for services9.3%

Fees for services
9.3%$494 thousand
What's in fees for servicesOther service charges and garbage collection
  • Other service charges$270 thousand
  • Garbage collection$224 thousand

Amounts are by Census type of charge.

Federal tax money<0.1%

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

From the federal government
<0.1%$2 thousand

State tax money23%

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

From the state
23%$1.2 million

County and local tax money1.4%

Money passed on by the county or other local governments.

From the county and other local governments
1.4%$75 thousand

Fines and other5.0%

Interest, rents and other
5.0%$266 thousand

Where it goes

Police, fire, courts and jails43%Running the government and other costs17%Roads, transit and parking16%Water, sewer, trash and utilities12%Parks, recreation and libraries5.9%All other spending6.0%

What stands out

43%

of Spencer's spending goes to police, fire, courts and jails.A typical U.S. city, town or village of under 10,000 people spends 11%.

Spending by category100%

Police, fire, courts and jails
43%$2.7 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$2.0 million
  • Fire protection$680 thousand
Running the government and other costs
17%$1.1 million
What's in running the government and other costsFinance, tax collection and budgeting and central staff services (personnel, purchasing, technology)
  • Finance, tax collection and budgeting$827 thousand
  • Central staff services (personnel, purchasing, technology)$224 thousand
Roads, transit and parking
16%$1.0 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.0 million
Water, sewer, trash and utilities
12%$770 thousand
What's in water, sewer, trash and utilitiesGarbage and solid waste
  • Garbage and solid waste$770 thousand
Parks, recreation and libraries
5.9%$372 thousand
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$331 thousand
  • Libraries$41 thousand
Environment and natural resources
3.4%$211 thousand
What's in environment and natural resourcesNatural resources, farming and conservation
  • Natural resources, farming and conservation$211 thousand
Housing and community development
1.7%$109 thousand
Interest on debt
0.9%$59 thousand
Sources and moreWhere these numbers come from and what they cover

Town of Spencer. 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 Town of Spencer 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.