City government · Lawrence County, TN

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

In the latest recorded fiscal year (ended June 30, 2022), Loretto took in $3.3 million and spent $2.9 million.

Latest recorded year: ended June 30, 2022Estimated by the U.S. Census BureauComes fromGoes to

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Where it comes from

Fees for services (water, gas)47%State tax money20%City taxes17%County and local tax money12%Fines and other3.8%

What stands out

12%

of Loretto's money comes from county and other local tax money.Most U.S. cities, towns and villages of under 10,000 people get none.

City taxes17%

Other taxes
11%$368 thousand
What's in other taxesAlcoholic beverage taxes; other licenses and 2 more
  • Alcoholic beverage taxes$225 thousand
  • Other licenses$87 thousand
  • Public utility taxes$55 thousand
  • Alcoholic beverage licenses$1 thousand

Amounts are by Census tax category.

Property tax
6.0%$199 thousand

Fees for services47%

Fees for services
47%$1.5 million
What's in fees for servicesWater; gas and 3 more
  • Water$606 thousand
  • Gas$457 thousand
  • Sewer$293 thousand
  • Garbage collection$99 thousand
  • Parks and recreation$87 thousand

Amounts are by Census type of charge.

State tax money20%

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

From the state
20%$657 thousand

County and local tax money12%

Money passed on by the county or other local governments.

From the county and other local governments
12%$408 thousand

Fines and other3.8%

Fines
3.8%$126 thousand

Where it goes

Water, sewer, trash and utilities50%Parks, recreation and libraries27%Police, fire, courts and jails14%Running the government and other costs4.7%Interest on debt3.1%Roads, transit and parking0.4%

What stands out

27%

of Loretto's spending goes to parks, recreation and libraries.A typical U.S. city, town or village of under 10,000 people spends 2.2%.

Spending by category100%

Water, sewer, trash and utilities
50%$1.5 million
What's in water, sewer, trash and utilitiesWater supply; gas supply and 2 more
  • Water supply$625 thousand
  • Gas supply$498 thousand
  • Sewer systems$234 thousand
  • Garbage and solid waste$113 thousand
Parks, recreation and libraries
27%$797 thousand
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$793 thousand
  • Libraries$4 thousand
Police, fire, courts and jails
14%$410 thousand
What's in police, fire, courts and jailsPolice; fire protection and 1 more
  • Police$348 thousand
  • Fire protection$58 thousand
  • Courts and legal services$4 thousand
Running the government and other costs
4.7%$136 thousand
What's in running the government and other costsCentral staff services (personnel, purchasing, technology) and government buildings
  • Central staff services (personnel, purchasing, technology)$104 thousand
  • Government buildings$32 thousand
Interest on debt
3.1%$90 thousand
Roads, transit and parking
0.4%$13 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$13 thousand
Sources and moreWhere these numbers come from and what they cover

City of Loretto. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended June 30, 2022. Most of this government's figures were estimated by the U.S. Census Bureau from a sample; the government did not report them itself. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of City of Loretto 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.