City government · Tipton County, TN

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

In the latest recorded fiscal year (ended June 30, 2024), Covington took in $47.2 million and spent $40.2 million.

Latest recorded year: ended June 30, 2024Estimated by the U.S. Census BureauComes fromGoes to

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Where it comes from

Fees for services (electric power, water)74%City taxes16%State tax money9.1%Fines and other0.3%

What stands out

74%

of Covington's money comes from fees for services such as water, sewer and parking.A typical U.S. city, town or village of under 10,000 people gets 35%.

City taxes16%

Property tax
7.6%$3.6 million
Sales tax
6.3%$3.0 million
Other taxes
2.3%$1.1 million
What's in other taxesAlcoholic beverage taxes; occupation and business licenses and 1 more
  • Alcoholic beverage taxes$704 thousand
  • Occupation and business licenses$314 thousand
  • Alcoholic beverage licenses$47 thousand

Amounts are by Census tax category.

Fees for services74%

Fees for services
74%$35.2 million
What's in fees for servicesElectric power; water and 2 more
  • Electric power$21.3 million
  • Water$9.3 million
  • Gas$4.5 million
  • Parks and recreation$64 thousand

Amounts are by Census type of charge.

State tax money9.1%

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

From the state
9.1%$4.3 million

Fines and other0.3%

Interest, rents and other
0.3%$145 thousand

Where it goes

Water, sewer, trash and utilities86%Police, fire, courts and jails7.4%Running the government and other costs2.2%Interest on debt1.6%Roads, transit and parking1.4%All other spending1.4%

What stands out

86%

of Covington's spending goes to water, sewer, trash and other utilities.A typical U.S. city, town or village of under 10,000 people spends 32%.

Spending by category100%

Water, sewer, trash and utilities
86%$34.6 million
What's in water, sewer, trash and utilitiesElectric power; water supply and 3 more
  • Electric power$20.5 million
  • Water supply$5.4 million
  • Gas supply$4.7 million
  • Sewer systems$3.7 million
  • Garbage and solid waste$315 thousand
Police, fire, courts and jails
7.4%$3.0 million
What's in police, fire, courts and jailsPolice and fire protection
  • Police$2.4 million
  • Fire protection$529 thousand
Running the government and other costs
2.2%$895 thousand
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$584 thousand
  • Finance, tax collection and budgeting$257 thousand
  • Central staff services (personnel, purchasing, technology)$54 thousand
Interest on debt
1.6%$643 thousand
What's in interest on debtInterest on water supply debt and interest on general debt
  • Interest on water supply debt$561 thousand
  • Interest on general debt$82 thousand
Roads, transit and parking
1.4%$581 thousand
What's in roads, transit and parkingRoads and highways and airports
  • Roads and highways$579 thousand
  • Airports$2 thousand
Sent to other local governments
0.8%$318 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$318 thousand
Parks, recreation and libraries
0.6%$228 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$228 thousand
Sources and moreWhere these numbers come from and what they cover

City of Covington. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended June 30, 2024. Most of this government's figures were estimated by the U.S. Census Bureau from a sample; the government did not report them itself.

What this covers. The money of City of Covington 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.