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Monroe 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:

12,384.64

The expenses per resident at the local level is:

10,586.83

The outstanding debt per resident at the local level is:

9,065.08

 
MonroeFloridaNational



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

Revenue1,032,40812,384.64100.00133,893,2065,989.76100.002.071.002,344,548,4806,947.35100.001.781.000.861.00

  General revenue859,17610,306.5783.22122,976,7975,501.4291.851.870.912,168,968,4006,427.0792.511.600.900.860.99

    Intergovernmental revenue197,5602,369.9019.1434,668,8311,550.9225.891.530.74808,559,1482,395.9234.490.990.550.650.75
      From Federal government93,6051,122.879.078,961,878400.916.692.801.35146,274,793433.446.242.591.450.921.07
      From State government103,9551,247.0310.0725,706,9531,150.0119.201.080.52662,284,3551,962.4828.250.640.360.590.68
      From local government00.000.0000.000.000.000.0000.000.000.000.000.000.00

    General revenue from own sources661,6167,936.6664.0888,307,9663,950.4965.952.010.971,360,409,2524,031.1558.021.971.100.981.14
      Taxes422,2535,065.2940.9049,372,7032,208.7136.872.291.11894,124,7052,649.4638.141.911.070.830.97
        Property281,2393,373.7127.2437,261,6561,666.9127.832.020.98627,434,2421,859.2126.761.811.020.901.04
        Sales & gross receipts119,6371,435.1511.598,982,302401.836.713.571.73165,801,503491.307.072.921.640.820.95
          General sales46,051552.424.464,725,625211.403.532.611.26125,994,306373.355.371.480.830.570.66
          Selective sales73,586882.737.134,256,677190.423.184.642.2439,807,197117.961.707.484.201.611.87
            Motor fuel sales6,10073.170.59917,96041.070.691.780.861,892,6875.610.0813.057.327.328.49
            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 utilities3,73144.760.362,091,23293.551.560.480.2315,744,64746.650.670.960.542.012.33
            Other selective sales63,755764.806.181,247,48555.810.9313.706.6321,006,01162.240.9012.296.890.901.04
        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 taxes21,377256.442.073,128,745139.972.341.830.8942,885,228127.081.832.021.131.101.28

      Charges & misc general revenue239,3632,871.3723.1838,935,2631,741.7829.081.650.80466,284,5471,381.6919.892.081.171.261.46
        Current charges170,9312,050.4716.5627,685,0421,238.5020.681.660.80365,048,3361,081.7115.571.901.061.141.33
          Education6,01872.190.581,248,10555.830.931.290.6319,143,89456.730.821.270.710.981.14
            Institution of higher education2,53230.370.25677,01530.290.511.000.497,681,25722.760.331.330.751.331.54
            School lunch sales (gross)3223.860.0367,7493.030.051.270.621,566,4414.640.070.830.470.650.76
          Hospitals00.000.0010,163,688454.687.590.000.00124,953,811370.265.330.000.001.231.42
          Highways2,11425.360.20168,4797.540.133.361.6310,287,28930.480.440.830.470.250.29
          Air transportation (airports)12,588151.001.222,161,97896.721.611.560.7622,414,40266.420.962.271.281.461.69
          Parking facilities8,24998.950.80274,61112.280.218.053.902,924,3498.670.1211.426.411.421.64
          Sea and inland port facilities3103.720.03415,46118.590.310.200.104,760,82614.110.200.260.151.321.53
          Natural resources2,49329.910.24628,34728.110.471.060.512,531,1967.500.113.992.243.754.35
          Parks and recreation10,585126.981.03631,48128.250.474.492.179,708,20828.770.414.412.480.981.14
          Housing and comm development22,633271.502.19360,33216.120.2716.848.157,308,73521.660.3112.547.030.740.86
          Sewerage37,034444.263.593,972,536177.712.972.501.2168,695,647203.562.932.181.220.871.01
          Solid waste management32,342387.973.132,809,527125.692.103.091.4921,694,93864.290.936.043.391.962.27
          Other charges36,565438.633.544,850,497216.993.622.020.9870,625,041209.283.012.101.181.041.20

        Miscellaneous general revenue68,432820.906.6311,250,221503.288.401.630.79101,236,211299.984.322.741.541.681.95
          Interest earnings4,69556.320.45825,72136.940.621.520.7410,227,01630.300.441.861.041.221.41
          Special assessments18,266219.121.774,769,769213.383.561.030.5015,026,42544.530.644.922.764.795.56
          Sale of property2543.050.02218,0759.760.160.310.153,784,73711.210.160.270.150.871.01
          Other general revenue45,217542.424.385,436,656243.214.062.231.0872,198,033213.943.082.541.421.141.32

  Utility revenue173,2322,078.0716.7810,916,409488.358.154.262.06173,592,043514.397.404.042.270.951.10
    Water supply76,603918.927.425,761,809257.764.303.571.7280,167,107237.553.423.872.171.091.26
    Electric power96,2821,154.999.334,701,461210.323.515.492.6678,135,733231.533.334.992.800.911.05
    Gas supply00.000.00275,59312.330.210.000.007,630,12322.610.330.000.000.550.63
    Transit3474.160.03177,5467.940.130.520.257,659,08022.700.330.180.100.350.41

  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

Expenditure882,53910,586.83100.00127,995,8955,725.95100.001.851.002,254,418,5176,680.28100.001.581.000.861.00

  Intergovernmental expenditure00.000.0000.000.000.000.0000.000.000.000.000.000.00
  Direct expenditure882,53910,586.83100.00127,995,8955,725.95100.001.851.002,254,418,5176,680.28100.001.581.000.861.00
    Current operation738,7378,861.8083.71107,643,3604,815.4784.101.841.001,887,390,8875,592.7083.721.581.000.861.00
    Capital outlay116,4401,396.8013.1916,244,182726.6912.691.921.04284,581,195843.2712.621.661.050.861.01
      Construction116,4401,396.8013.1916,244,182726.6912.691.921.04284,581,195843.2712.621.661.050.861.01
    Assistance and subsidies-41-0.49-0.00266,39411.920.21-0.04-0.022,376,9447.040.11-0.07-0.041.691.97
    Interest on debt27,403328.723.113,841,959171.873.001.911.0380,069,491237.263.551.390.870.720.85
    Insurance benefits and repayments00.000.0000.000.000.000.0039,9940.120.000.000.000.000.00
    Exhibit: salaries & wages116,8121,401.2613.2421,917,576980.4917.121.430.77525,546,0041,557.2923.310.900.570.630.73

  Direct expenditure by function882,53910,586.83100.00127,995,8955,725.95100.001.851.002,254,418,5176,680.28100.001.581.000.861.00
    Direct general expenditure728,2988,736.5782.52116,546,0515,213.7391.051.680.912,024,660,7925,999.4689.811.460.920.871.01
      Capital outlay91,7741,100.9110.4014,427,571645.4211.271.710.92233,677,777692.4310.371.591.000.931.09


Education services:
      Other direct general expenditure636,5247,635.6672.12102,118,4804,568.3179.781.670.901,790,983,0155,307.0379.441.440.910.861.00
      Education187,5542,249.8721.2538,786,5211,735.1330.301.300.70862,837,2522,556.7538.270.880.560.680.79
          Capital outlay32,805393.523.723,465,418155.032.712.541.3789,314,081264.653.961.490.940.590.68
        Higher education24,625295.402.793,342,383149.522.611.981.0746,067,730136.512.042.161.371.101.28
          Capital outlay10,514126.121.19164,8707.380.1317.109.255,394,84215.990.247.894.980.460.54
        Elementary & Secondary education162,9701,954.9718.4735,177,7441,573.6927.481.240.67814,392,5782,413.2036.120.810.510.650.76
          Capital outlay22,291267.402.533,300,548147.652.581.810.9883,919,239248.673.721.080.680.590.69
        Other education-41-0.49-0.00266,39411.920.21-0.04-0.022,376,9447.040.11-0.07-0.041.691.97
      Libraries5,41464.950.61664,69829.740.522.181.1813,625,82240.380.601.611.010.740.86


Social services and income maintenance:
      Public welfare3,11237.330.351,804,02280.701.410.460.2567,699,317200.613.000.190.120.400.47
        Other public welfare3,11237.330.351,804,02280.701.410.460.2567,699,317200.613.000.190.120.400.47
      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
      Health54,204650.226.142,085,47793.291.636.973.7777,108,561228.493.422.851.800.410.48
      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:
      Highways21,338255.972.423,907,968174.823.051.460.7982,616,882244.813.661.050.660.710.83
        Capital outlay9,061108.691.031,598,23771.501.251.520.8230,060,50189.081.331.220.770.800.94
      Air transportation (airports)18,215218.502.062,926,955130.942.291.670.9028,556,24984.621.272.581.631.551.81
      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 protection77,525929.988.7810,123,200452.877.912.051.11119,298,947353.515.292.631.661.281.49
      Fire protection37,630451.404.265,353,431239.494.181.881.0264,033,823189.742.842.381.501.261.47
      Correction6,28275.360.712,167,23196.951.690.780.4232,595,24396.591.450.780.491.001.17
        Capital outlay650.780.0162,8962.810.050.280.15915,2972.710.040.290.181.041.21
      Protective inspection & regulation11,460137.471.30880,96139.410.693.491.897,062,87020.930.316.574.141.882.20

Environment and housing:
      Natural resources11,214134.521.274,406,951197.153.440.680.3713,342,66139.540.593.402.154.995.82
        Capital outlay871.040.012,049,92891.701.600.010.014,485,96313.290.200.080.056.908.05
      Parks and recreation25,644307.622.913,607,795161.402.821.911.0343,717,263129.541.942.371.501.251.45
        Capital outlay4,68156.150.53812,78736.360.641.540.8410,096,60129.920.451.881.181.221.42
      Housing and comm development37,382448.434.242,703,049120.922.113.712.0158,336,344172.862.592.591.640.700.82
      Sewerage42,167505.834.784,984,082222.963.892.271.2368,504,527202.993.042.491.571.101.28
        Capital outlay4,58655.010.52947,78942.400.741.300.7023,319,98269.101.030.800.500.610.72
      Solid waste management30,683368.073.482,917,625130.522.282.821.5328,653,83084.911.274.332.741.541.79
        Capital outlay380.460.00102,4414.580.080.100.051,863,1165.520.080.080.050.830.97

Governmental administration:
      Financial administration10,124121.451.153,956,298176.993.090.690.3723,707,42470.251.051.731.092.522.94
      Judicial and legal11,120133.391.261,110,03249.660.872.691.4527,887,73782.641.241.611.020.600.70
      General public buildings2,57330.870.29250,50611.210.202.751.4913,643,40540.430.610.760.480.280.32
      Other governmental administration15,584186.941.771,291,72457.791.013.241.7537,267,357110.431.651.691.070.520.61
      Interest on general debt12,326147.861.402,906,868130.042.271.140.6166,807,524197.962.960.750.470.660.77

General expenditures, n.e.c.:
      Misc commercial activities00.000.00810.000.000.000.002,707,8798.020.120.000.000.000.00
      Other and unallocable106,7471,280.5212.107,298,373326.505.703.922.12137,158,796406.436.083.151.990.800.94

Utility expenditures:
    Utility expenditure154,2411,850.2617.4811,449,844512.218.953.611.95228,078,201675.8410.122.741.730.760.88
        Capital outlay24,666295.892.791,816,61181.271.423.641.9750,897,505150.822.261.961.240.540.63
      Water supply75,398904.468.544,539,914203.093.554.452.4182,479,587244.403.663.702.340.830.97
      Electric power74,373892.178.434,540,547203.123.554.392.3873,696,368218.383.274.092.580.931.09
      Gas supply00.000.00235,37210.530.180.000.007,182,24421.280.320.000.000.490.58
      Transit4,47053.620.512,134,01195.471.670.560.3064,720,002191.782.870.280.180.500.58

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 outstanding755,6839,065.08100.00104,523,0594,675.88100.001.941.002,042,775,1706,053.14100.001.501.000.771.00

  Short-term debt outstanding00.000.00165,9597.420.160.000.0028,356,92884.031.390.000.000.090.11
  Long-term debt outstanding755,6839,065.08100.00104,357,1004,668.4699.841.941.002,014,418,2425,969.1198.611.521.010.781.01

Long-term debt issued63,147NANA11,343,984NANANANA264,717,314NANANANANANA
Long-term debt retired88,793NANA10,382,574NANANANA218,916,559NANANANANANA


Sources: STI: PopStats and STI: Colossus