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Bradford County – Government Finance

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Government finances play a pivotal role in shaping the local economy, influencing economic growth, stability, and the overall well-being of communities. The impact of government finances on the local economy can be analyzed through several key mechanisms, including public spending, taxation, debt management, and fiscal policies. These elements collectively determine the flow of resources, the level of economic activity, and the quality of life for residents.

  1. Public Spending and Investment One of the most direct ways government finances affect the local economy is through public spending. Governments allocate funds to infrastructure projects, education, healthcare, public safety, and social services. These investments create jobs, stimulate demand for goods and services, and enhance the productivity of the local workforce. For instance, building roads, bridges, and public transportation systems not only provides immediate employment opportunities but also improves connectivity, reducing transportation costs for businesses and facilitating trade. Similarly, investments in education and healthcare contribute to a skilled and healthy workforce, which is essential for long-term economic growth.

  2. Taxation Policies Taxation is another critical component of government finances that impacts the local economy. Taxes fund public services and infrastructure, but they also influence the behavior of individuals and businesses. High tax rates can discourage investment and consumption, potentially stifling economic growth. Conversely, low tax rates may attract businesses and stimulate spending but can lead to budget deficits if not managed properly. Progressive taxation, where higher-income individuals pay a larger share, can reduce income inequality and increase disposable income for lower-income households, boosting local demand for goods and services.

  3. Debt Management Government borrowing and debt management also have significant implications for the local economy. When governments borrow to finance deficits or invest in long-term projects, they can stimulate economic activity in the short term. However, excessive debt can lead to higher interest rates, crowding out private investment, and increasing the risk of financial instability. Effective debt management ensures that borrowing is sustainable and that funds are used efficiently to generate economic returns.

  4. Fiscal Policies Fiscal policies, including government spending and taxation, are tools used to manage economic cycles. During economic downturns, expansionary fiscal policies, such as increased spending and tax cuts, can stimulate demand and help the economy recover. Conversely, during periods of high inflation, contractionary fiscal policies, such as reduced spending and higher taxes, can help cool down the economy. The timing and effectiveness of these policies are crucial in stabilizing the local economy and maintaining public confidence.

  5. Social and Economic Equity Government finances also play a role in promoting social and economic equity. Redistributive policies, such as social welfare programs and subsidies, can reduce poverty and inequality, leading to a more inclusive economy. By providing a safety net for vulnerable populations, governments can ensure that all residents have access to basic needs, which in turn supports overall economic stability and growth.

  6. Conclusion In summary, government finances have a profound impact on the local economy through public spending, taxation, debt management, and fiscal policies. Effective management of these financial tools can stimulate economic growth, reduce inequality, and enhance the quality of life for residents. Conversely, poor financial management can lead to economic instability, reduced investment, and social unrest. Therefore, it is essential for governments to adopt prudent fiscal policies and ensure that financial resources are allocated efficiently and equitably to support sustainable economic development.

A key indicator for comparison is how much government collects, spends and and establishes debt for each resident under its perview.

The revenue per resident at the local level is:

3,935.05

The expenses per resident at the local level is:

4,974.97

The outstanding debt per resident at the local level is:

116.87

 
BradfordFloridaNational



LocalLocalLocalLocalStateState
PerContri-PerContri-PerContri-
LocalPer CentStatePer CentCapitabutionNationalPer CentCapitabutionCapitabution
Description(,000's)Per Capitato Total(,000's)Per Capitato TotalIndexIndex(,000's)Per Capitato TotalIndexIndexIndexIndex

Revenue114,1403,935.05100.00133,893,2065,989.76100.000.661.002,344,548,4806,947.35100.000.571.000.861.00

  General revenue104,7013,609.6391.73122,976,7975,501.4291.850.661.002,168,968,4006,427.0792.510.560.990.860.99

    Intergovernmental revenue51,1061,761.9144.7734,668,8311,550.9225.891.141.73808,559,1482,395.9234.490.741.300.650.75
      From Federal government4,579157.864.018,961,878400.916.690.390.60146,274,793433.446.240.360.640.921.07
      From State government46,5271,604.0540.7625,706,9531,150.0119.201.392.12662,284,3551,962.4828.250.821.440.590.68
      From local government00.000.0000.000.000.000.0000.000.000.000.000.000.00

    General revenue from own sources53,5951,847.7246.9688,307,9663,950.4965.950.470.711,360,409,2524,031.1558.020.460.810.981.14
      Taxes31,7161,093.4327.7949,372,7032,208.7136.870.500.75894,124,7052,649.4638.140.410.730.830.97
        Property16,781578.5414.7037,261,6561,666.9127.830.350.53627,434,2421,859.2126.760.310.550.901.04
        Sales & gross receipts6,924238.716.078,982,302401.836.710.590.90165,801,503491.307.070.490.860.820.95
          General sales4,286147.763.764,725,625211.403.530.701.06125,994,306373.355.370.400.700.570.66
          Selective sales2,63890.952.314,256,677190.423.180.480.7339,807,197117.961.700.771.361.611.87
            Motor fuel sales1,32345.611.16917,96041.070.691.111.691,892,6875.610.088.1314.367.328.49
            Alcoholic beverage sales00.000.0000.000.000.000.00845,0352.500.040.000.000.000.00
            Tobacco product sales00.000.0000.000.000.000.00318,8170.940.010.000.000.000.00
            Public utilities79527.410.702,091,23293.551.560.290.4515,744,64746.650.670.591.042.012.33
            Other selective sales52017.930.461,247,48555.810.930.320.4921,006,01162.240.900.290.510.901.04
        Individual income tax00.000.0000.000.000.000.0044,730,192132.541.910.000.000.000.00
        Corporate income tax00.000.0000.000.000.000.0011,009,92732.620.470.000.000.000.00
        Motor vehicle license00.000.0000.000.000.000.002,263,6136.710.100.000.000.000.00
        Other taxes8,011276.187.023,128,745139.972.341.973.0042,885,228127.081.832.173.841.101.28

      Charges & misc general revenue21,879754.2919.1738,935,2631,741.7829.080.430.66466,284,5471,381.6919.890.550.961.261.46
        Current charges16,566571.1214.5127,685,0421,238.5020.680.460.70365,048,3361,081.7115.570.530.931.141.33
          Education45015.510.391,248,10555.830.930.280.4219,143,89456.730.820.270.480.981.14
            Institution of higher education1956.720.17677,01530.290.510.220.347,681,25722.760.330.300.521.331.54
            School lunch sales (gross)00.000.0067,7493.030.050.000.001,566,4414.640.070.000.000.650.76
          Hospitals00.000.0010,163,688454.687.590.000.00124,953,811370.265.330.000.001.231.42
          Highways41214.200.36168,4797.540.131.882.8710,287,28930.480.440.470.820.250.29
          Air transportation (airports)00.000.002,161,97896.721.610.000.0022,414,40266.420.960.000.001.461.69
          Parking facilities00.000.00274,61112.280.210.000.002,924,3498.670.120.000.001.421.64
          Sea and inland port facilities00.000.00415,46118.590.310.000.004,760,82614.110.200.000.001.321.53
          Natural resources90.310.01628,34728.110.470.010.022,531,1967.500.110.040.073.754.35
          Parks and recreation70.240.01631,48128.250.470.010.019,708,20828.770.410.010.010.981.14
          Housing and comm development00.000.00360,33216.120.270.000.007,308,73521.660.310.000.000.740.86
          Sewerage1,94366.991.703,972,536177.712.970.380.5768,695,647203.562.930.330.580.871.01
          Solid waste management1,33646.061.172,809,527125.692.100.370.5621,694,93864.290.930.721.261.962.27
          Other charges12,409427.8110.874,850,497216.993.621.973.0070,625,041209.283.012.043.611.041.20

        Miscellaneous general revenue5,313183.174.6511,250,221503.288.400.360.55101,236,211299.984.320.611.081.681.95
          Interest earnings561.930.05825,72136.940.620.050.0810,227,01630.300.440.060.111.221.41
          Special assessments68823.720.604,769,769213.383.560.110.1715,026,42544.530.640.530.944.795.56
          Sale of property592.030.05218,0759.760.160.210.323,784,73711.210.160.180.320.871.01
          Other general revenue4,510155.493.955,436,656243.214.060.640.9772,198,033213.943.080.731.281.141.32

  Utility revenue9,439325.428.2710,916,409488.358.150.671.01173,592,043514.397.400.631.120.951.10
    Water supply1,31545.341.155,761,809257.764.300.180.2780,167,107237.553.420.190.341.091.26
    Electric power7,618262.646.674,701,461210.323.511.251.9078,135,733231.533.331.132.000.911.05
    Gas supply50617.440.44275,59312.330.211.412.157,630,12322.610.330.771.360.550.63
    Transit00.000.00177,5467.940.130.000.007,659,08022.700.330.000.000.350.41

  Liquor store revenue00.000.0000.000.000.000.001,988,0375.890.080.000.000.000.00

  Insurance trust revenue00.000.0000.000.000.000.00162,8580.480.010.000.000.000.00
    Unemployment compensation00.000.0000.000.000.000.00162,8580.480.010.000.000.000.00
    Employee retirement00.000.0000.000.000.000.0000.000.000.000.000.000.00
    Workers' compensation00.000.0000.000.000.000.0000.000.000.000.000.000.00
    Other insurance trust revenue00.000.0000.000.000.000.0000.000.000.000.000.000.00

Expenditure144,3044,974.97100.00127,995,8955,725.95100.000.871.002,254,418,5176,680.28100.000.741.000.861.00

  Intergovernmental expenditure00.000.0000.000.000.000.0000.000.000.000.000.000.00
  Direct expenditure144,3044,974.97100.00127,995,8955,725.95100.000.871.002,254,418,5176,680.28100.000.741.000.861.00
    Current operation127,6744,401.6488.48107,643,3604,815.4784.100.911.051,887,390,8875,592.7083.720.791.060.861.00
    Capital outlay16,518569.4711.4516,244,182726.6912.690.780.90284,581,195843.2712.620.680.910.861.01
      Construction16,518569.4711.4516,244,182726.6912.690.780.90284,581,195843.2712.620.680.910.861.01
    Assistance and subsidies00.000.00266,39411.920.210.000.002,376,9447.040.110.000.001.691.97
    Interest on debt1123.860.083,841,959171.873.000.020.0380,069,491237.263.550.020.020.720.85
    Insurance benefits and repayments00.000.0000.000.000.000.0039,9940.120.000.000.000.000.00
    Exhibit: salaries & wages20,202696.4814.0021,917,576980.4917.120.710.82525,546,0041,557.2923.310.450.600.630.73

  Direct expenditure by function144,3044,974.97100.00127,995,8955,725.95100.000.871.002,254,418,5176,680.28100.000.741.000.861.00
    Direct general expenditure135,2234,661.9093.71116,546,0515,213.7391.050.891.032,024,660,7925,999.4689.810.781.040.871.01
      Capital outlay16,350563.6811.3314,427,571645.4211.270.871.01233,677,777692.4310.370.811.090.931.09


Education services:
      Other direct general expenditure118,8734,098.2282.38102,118,4804,568.3179.780.901.031,790,983,0155,307.0379.440.771.040.861.00
      Education47,8361,649.1833.1538,786,5211,735.1330.300.951.09862,837,2522,556.7538.270.650.870.680.79
          Capital outlay11,611400.308.053,465,418155.032.712.582.9789,314,081264.653.961.512.030.590.68
        Higher education1,88665.021.313,342,383149.522.610.430.5046,067,730136.512.040.480.641.101.28
          Capital outlay00.000.00164,8707.380.130.000.005,394,84215.990.240.000.000.460.54
        Elementary & Secondary education45,9501,584.1631.8435,177,7441,573.6927.481.011.16814,392,5782,413.2036.120.660.880.650.76
          Capital outlay11,611400.308.053,300,548147.652.582.713.1283,919,239248.673.721.612.160.590.69
        Other education00.000.00266,39411.920.210.000.002,376,9447.040.110.000.001.691.97
      Libraries85829.580.59664,69829.740.520.991.1413,625,82240.380.600.730.980.740.86


Social services and income maintenance:
      Public welfare270.930.021,804,02280.701.410.010.0167,699,317200.613.000.000.010.400.47
        Other public welfare270.930.021,804,02280.701.410.010.0167,699,317200.613.000.000.010.400.47
      Hospitals00.000.0011,605,342519.179.070.000.00141,312,054418.736.270.000.001.241.45
        Capital outlay00.000.00795,68935.600.620.000.006,546,84619.400.290.000.001.832.14
      Health4,216145.352.922,085,47793.291.631.561.7977,108,561228.493.420.640.850.410.48
      Social insurance administration00.000.0000.000.000.000.0035,9470.110.000.000.000.000.00
      Veterans' services00.000.0000.000.000.000.0000.000.000.000.000.000.00

Transportaion:
      Highways4,818166.103.343,907,968174.823.050.951.0982,616,882244.813.660.680.910.710.83
        Capital outlay2,02069.641.401,598,23771.501.250.971.1230,060,50189.081.330.781.050.800.94
      Air transportation (airports)00.000.002,926,955130.942.290.000.0028,556,24984.621.270.000.001.551.81
      Parking facilities00.000.00203,1239.090.160.000.002,108,1706.250.090.000.001.451.70
      Sea and inland port facilities00.000.00603,73827.010.470.000.004,034,90811.960.180.000.002.262.64

Public safety:
      Police protection7,519259.225.2110,123,200452.877.910.570.66119,298,947353.515.290.730.981.281.49
      Fire protection3,835132.212.665,353,431239.494.180.550.6464,033,823189.742.840.700.941.261.47
      Correction3,877133.662.692,167,23196.951.691.381.5932,595,24396.591.451.381.861.001.17
        Capital outlay00.000.0062,8962.810.050.000.00915,2972.710.040.000.001.041.21
      Protective inspection & regulation491.690.03880,96139.410.690.040.057,062,87020.930.310.080.111.882.20

Environment and housing:
      Natural resources46015.860.324,406,951197.153.440.080.0913,342,66139.540.590.400.544.995.82
        Capital outlay1856.380.132,049,92891.701.600.070.084,485,96313.290.200.480.646.908.05
      Parks and recreation45215.580.313,607,795161.402.820.100.1143,717,263129.541.940.120.161.251.45
        Capital outlay351.210.02812,78736.360.640.030.0410,096,60129.920.450.040.051.221.42
      Housing and comm development57519.820.402,703,049120.922.110.160.1958,336,344172.862.590.110.150.700.82
      Sewerage1,71459.091.194,984,082222.963.890.270.3168,504,527202.993.040.290.391.101.28
        Capital outlay802.760.06947,78942.400.740.070.0723,319,98269.101.030.040.050.610.72
      Solid waste management2,56788.501.782,917,625130.522.280.680.7828,653,83084.911.271.041.401.541.79
        Capital outlay2448.410.17102,4414.580.081.842.111,863,1165.520.081.522.050.830.97

Governmental administration:
      Financial administration31,4801,085.2921.823,956,298176.993.096.137.0623,707,42470.251.0515.4520.742.522.94
      Judicial and legal5,195179.103.601,110,03249.660.873.614.1527,887,73782.641.242.172.910.600.70
      General public buildings92031.720.64250,50611.210.202.833.2613,643,40540.430.610.781.050.280.32
      Other governmental administration2,21376.291.531,291,72457.791.011.321.5237,267,357110.431.650.690.930.520.61
      Interest on general debt230.790.022,906,868130.042.270.010.0166,807,524197.962.960.000.010.660.77

General expenditures, n.e.c.:
      Misc commercial activities00.000.00810.000.000.000.002,707,8798.020.120.000.000.000.00
      Other and unallocable16,589571.9211.507,298,373326.505.701.752.02137,158,796406.436.081.411.890.800.94

Utility expenditures:
    Utility expenditure9,081313.076.2911,449,844512.218.950.610.70228,078,201675.8410.120.460.620.760.88
        Capital outlay1685.790.121,816,61181.271.420.070.0850,897,505150.822.260.040.050.540.63
      Water supply1,18440.820.824,539,914203.093.550.200.2382,479,587244.403.660.170.220.830.97
      Electric power7,369254.055.114,540,547203.123.551.251.4473,696,368218.383.271.161.560.931.09
      Gas supply52818.200.37235,37210.530.181.731.997,182,24421.280.320.861.150.490.58
      Transit00.000.002,134,01195.471.670.000.0064,720,002191.782.870.000.000.500.58

Liquor store expenditures:
    Liquor store expenditure00.000.0000.000.000.000.001,679,5244.980.070.000.000.000.00

Insurance trust expenditures:
    Insurance trust expenditure00.000.0000.000.000.000.0039,9940.120.000.000.000.000.00
      Unemployment compensation00.000.0000.000.000.000.0039,9940.120.000.000.000.000.00
      Employee retirement00.000.0000.000.000.000.0000.000.000.000.000.000.00
      Workers' compensation00.000.0000.000.000.000.0000.000.000.000.000.000.00
      Other insurance trust00.000.0000.000.000.000.0000.000.000.000.000.000.00

Debt outstanding3,390116.87100.00104,523,0594,675.88100.000.021.002,042,775,1706,053.14100.000.021.000.771.00

  Short-term debt outstanding00.000.00165,9597.420.160.000.0028,356,92884.031.390.000.000.090.11
  Long-term debt outstanding3,390116.87100.00104,357,1004,668.4699.840.031.002,014,418,2425,969.1198.610.021.010.781.01

Long-term debt issued0NANA11,343,984NANANANA264,717,314NANANANANANA
Long-term debt retired664NANA10,382,574NANANANA218,916,559NANANANANANA


Sources: STI: PopStats and STI: Colossus