City government · Van Buren County, TN

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

In the latest recorded fiscal year (ended June 30, 2024), Spencer took in $3.4 million and spent $2.7 million.

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

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Where it comes from

Fees for services (water, sewer)62%City taxes14%State tax money8.0%Fines and other8.0%Federal tax money5.5%County and local tax money3.1%

What stands out

11%

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

City taxes14%

Sales tax
11%$384 thousand
Other taxes
2.3%$79 thousand
What's in other taxesAlcoholic beverage taxes; other licenses and 3 more
  • Alcoholic beverage taxes$54 thousand
  • Other licenses$12 thousand
  • Public utility taxes$9 thousand
  • Other selective sales taxes$3 thousand
  • Alcoholic beverage licenses$1 thousand

Amounts are by Census tax category.

Fees for services62%

Fees for services
62%$2.1 million
What's in fees for servicesWater and sewer
  • Water$1.5 million
  • Sewer$615 thousand

Amounts are by Census type of charge.

Federal tax money5.5%

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

From the federal government
5.5%$185 thousand

State tax money8.0%

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

From the state
8.0%$271 thousand

County and local tax money3.1%

Money passed on by the county or other local governments.

From the county and other local governments
3.1%$104 thousand

Fines and other8.0%

Interest, rents and other
4.1%$137 thousand
Fines
3.9%$132 thousand

Where it goes

Water, sewer, trash and utilities61%Running the government and other costs13%Police, fire, courts and jails8.7%Housing and community development7.8%Roads, transit and parking4.7%All other spending4.7%

What stands out

7.8%

of Spencer's spending goes to housing and community development.Most U.S. cities, towns and villages of under 10,000 people spend nothing on this.

Spending by category100%

Water, sewer, trash and utilities
61%$1.6 million
What's in water, sewer, trash and utilitiesWater supply and sewer systems
  • Water supply$1.2 million
  • Sewer systems$404 thousand
Running the government and other costs
13%$359 thousand
What's in running the government and other costsCentral staff services (personnel, purchasing, technology); other and not broken out and 1 more
  • Central staff services (personnel, purchasing, technology)$196 thousand
  • Other and not broken out$142 thousand
  • Finance, tax collection and budgeting$21 thousand
Police, fire, courts and jails
8.7%$235 thousand
What's in police, fire, courts and jailsPolice; courts and legal services and 1 more
  • Police$192 thousand
  • Courts and legal services$38 thousand
  • Fire protection$5 thousand
Housing and community development
7.8%$210 thousand
Roads, transit and parking
4.7%$126 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$126 thousand
Interest on debt
3.5%$95 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$77 thousand
  • Interest on water supply debt$18 thousand
Parks, recreation and libraries
1.2%$31 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$31 thousand
Sources and moreWhere these numbers come from and what they cover

City 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 City 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.