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Putnam 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:

5,912.11

The expenses per resident at the local level is:

5,141.2

The outstanding debt per resident at the local level is:

627.72

 
PutnamFloridaNational



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

Revenue446,1875,912.11100.00133,893,2065,989.76100.000.991.002,344,548,4806,947.35100.000.851.000.861.00

  General revenue441,0265,843.7398.84122,976,7975,501.4291.851.061.082,168,968,4006,427.0792.510.911.070.860.99

    Intergovernmental revenue187,0502,478.4741.9234,668,8311,550.9225.891.601.62808,559,1482,395.9234.491.031.220.650.75
      From Federal government25,610339.345.748,961,878400.916.690.850.86146,274,793433.446.240.780.920.921.07
      From State government161,4402,139.1336.1825,706,9531,150.0119.201.861.88662,284,3551,962.4828.251.091.280.590.68
      From local government00.000.0000.000.000.000.0000.000.000.000.000.000.00

    General revenue from own sources253,9763,365.2656.9288,307,9663,950.4965.950.850.861,360,409,2524,031.1558.020.830.980.981.14
      Taxes190,4202,523.1242.6849,372,7032,208.7136.871.141.16894,124,7052,649.4638.140.951.120.830.97
        Property172,3812,284.1038.6337,261,6561,666.9127.831.371.39627,434,2421,859.2126.761.231.440.901.04
        Sales & gross receipts12,869170.522.888,982,302401.836.710.420.43165,801,503491.307.070.350.410.820.95
          General sales4,07453.980.914,725,625211.403.530.260.26125,994,306373.355.370.140.170.570.66
          Selective sales8,795116.541.974,256,677190.423.180.610.6239,807,197117.961.700.991.161.611.87
            Motor fuel sales5,53073.271.24917,96041.070.691.781.811,892,6875.610.0813.0715.357.328.49
            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 utilities2,59634.400.582,091,23293.551.560.370.3715,744,64746.650.670.740.872.012.33
            Other selective sales6698.860.151,247,48555.810.930.160.1621,006,01162.240.900.140.170.901.04
        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 taxes5,17068.501.163,128,745139.972.340.490.5042,885,228127.081.830.540.631.101.28

      Charges & misc general revenue63,556842.1414.2438,935,2631,741.7829.080.480.49466,284,5471,381.6919.890.610.721.261.46
        Current charges40,957542.699.1827,685,0421,238.5020.680.440.44365,048,3361,081.7115.570.500.591.141.33
          Education10,812143.262.421,248,10555.830.932.572.6019,143,89456.730.822.532.970.981.14
            Institution of higher education10,484138.922.35677,01530.290.514.594.657,681,25722.760.336.107.171.331.54
            School lunch sales (gross)3024.000.0767,7493.030.051.321.341,566,4414.640.070.861.010.650.76
          Hospitals00.000.0010,163,688454.687.590.000.00124,953,811370.265.330.000.001.231.42
          Highways3074.070.07168,4797.540.130.540.5510,287,28930.480.440.130.160.250.29
          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 resources1,37618.230.31628,34728.110.470.650.662,531,1967.500.112.432.863.754.35
          Parks and recreation1161.540.03631,48128.250.470.050.069,708,20828.770.410.050.060.981.14
          Housing and comm development4,86264.421.09360,33216.120.274.004.057,308,73521.660.312.973.500.740.86
          Sewerage1,48919.730.333,972,536177.712.970.110.1168,695,647203.562.930.100.110.871.01
          Solid waste management4,45459.021.002,809,527125.692.100.470.4821,694,93864.290.930.921.081.962.27
          Other charges17,541232.423.934,850,497216.993.621.071.0970,625,041209.283.011.111.311.041.20

        Miscellaneous general revenue22,599299.445.0611,250,221503.288.400.590.60101,236,211299.984.321.001.171.681.95
          Interest earnings1,58320.980.35825,72136.940.620.570.5810,227,01630.300.440.690.811.221.41
          Special assessments11,373150.702.554,769,769213.383.560.710.7215,026,42544.530.643.383.984.795.56
          Sale of property7519.950.17218,0759.760.161.021.033,784,73711.210.160.891.040.871.01
          Other general revenue8,892117.821.995,436,656243.214.060.480.4972,198,033213.943.080.550.651.141.32

  Utility revenue5,16168.381.1610,916,409488.358.150.140.14173,592,043514.397.400.130.160.951.10
    Water supply2,11928.080.475,761,809257.764.300.110.1180,167,107237.553.420.120.141.091.26
    Electric power00.000.004,701,461210.323.510.000.0078,135,733231.533.330.000.000.911.05
    Gas supply3,04240.310.68275,59312.330.213.273.317,630,12322.610.331.782.090.550.63
    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

Expenditure388,0065,141.20100.00127,995,8955,725.95100.000.901.002,254,418,5176,680.28100.000.771.000.861.00

  Intergovernmental expenditure00.000.0000.000.000.000.0000.000.000.000.000.000.00
  Direct expenditure388,0065,141.20100.00127,995,8955,725.95100.000.901.002,254,418,5176,680.28100.000.771.000.861.00
    Current operation342,5744,539.2188.29107,643,3604,815.4784.100.941.051,887,390,8875,592.7083.720.811.050.861.00
    Capital outlay37,612498.379.6916,244,182726.6912.690.690.76284,581,195843.2712.620.590.770.861.01
      Construction37,612498.379.6916,244,182726.6912.690.690.76284,581,195843.2712.620.590.770.861.01
    Assistance and subsidies6,07780.521.57266,39411.920.216.767.532,376,9447.040.1111.4314.851.691.97
    Interest on debt1,74323.100.453,841,959171.873.000.130.1580,069,491237.263.550.100.130.720.85
    Insurance benefits and repayments00.000.0000.000.000.000.0039,9940.120.000.000.000.000.00
    Exhibit: salaries & wages98,5461,305.7625.4021,917,576980.4917.121.331.48525,546,0041,557.2923.310.841.090.630.73

  Direct expenditure by function388,0065,141.20100.00127,995,8955,725.95100.000.901.002,254,418,5176,680.28100.000.771.000.861.00
    Direct general expenditure380,4235,040.7298.05116,546,0515,213.7391.050.971.082,024,660,7925,999.4689.810.841.090.871.01
      Capital outlay37,255493.649.6014,427,571645.4211.270.760.85233,677,777692.4310.370.710.930.931.09


Education services:
      Other direct general expenditure343,1684,547.0888.44102,118,4804,568.3179.781.001.111,790,983,0155,307.0379.440.861.110.861.00
      Education174,0492,306.2044.8638,786,5211,735.1330.301.331.48862,837,2522,556.7538.270.901.170.680.79
          Capital outlay7,51799.601.943,465,418155.032.710.640.7289,314,081264.653.960.380.490.590.68
        Higher education46,710618.9212.043,342,383149.522.614.144.6146,067,730136.512.044.535.891.101.28
          Capital outlay3,98352.781.03164,8707.380.137.167.975,394,84215.990.243.304.290.460.54
        Elementary & Secondary education121,2621,606.7631.2535,177,7441,573.6927.481.021.14814,392,5782,413.2036.120.670.870.650.76
          Capital outlay3,53446.830.913,300,548147.652.580.320.3583,919,239248.673.720.190.240.590.69
        Other education6,07780.521.57266,39411.920.216.767.532,376,9447.040.1111.4314.851.691.97
      Libraries84611.210.22664,69829.740.520.380.4213,625,82240.380.600.280.360.740.86


Social services and income maintenance:
      Public welfare1251.660.031,804,02280.701.410.020.0267,699,317200.613.000.010.010.400.47
        Other public welfare1251.660.031,804,02280.701.410.020.0267,699,317200.613.000.010.010.400.47
      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
      Health10,253135.862.642,085,47793.291.631.461.6277,108,561228.493.420.590.770.410.48
      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:
      Highways15,863210.194.093,907,968174.823.051.201.3482,616,882244.813.660.861.120.710.83
        Capital outlay7,886104.492.031,598,23771.501.251.461.6330,060,50189.081.331.171.520.800.94
      Air transportation (airports)1,97626.180.512,926,955130.942.290.200.2228,556,24984.621.270.310.401.551.81
      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 protection21,085279.385.4310,123,200452.877.910.620.69119,298,947353.515.290.791.031.281.49
      Fire protection6,72289.071.735,353,431239.494.180.370.4164,033,823189.742.840.470.611.261.47
      Correction8,182108.412.112,167,23196.951.691.121.2532,595,24396.591.451.121.461.001.17
        Capital outlay310.410.0162,8962.810.050.150.16915,2972.710.040.150.201.041.21
      Protective inspection & regulation1,29217.120.33880,96139.410.690.430.487,062,87020.930.310.821.061.882.20

Environment and housing:
      Natural resources84,0521,113.7121.664,406,951197.153.445.656.2913,342,66139.540.5928.1736.604.995.82
        Capital outlay16,093213.244.152,049,92891.701.602.332.594,485,96313.290.2016.0420.846.908.05
      Parks and recreation2,31230.630.603,607,795161.402.820.190.2143,717,263129.541.940.240.311.251.45
        Capital outlay410.540.01812,78736.360.640.010.0210,096,60129.920.450.020.021.221.42
      Housing and comm development3,85951.130.992,703,049120.922.110.420.4758,336,344172.862.590.300.380.700.82
      Sewerage4,87064.531.264,984,082222.963.890.290.3268,504,527202.993.040.320.411.101.28
        Capital outlay1331.760.03947,78942.400.740.040.0523,319,98269.101.030.030.030.610.72
      Solid waste management11,886157.493.062,917,625130.522.281.211.3428,653,83084.911.271.852.411.541.79
        Capital outlay00.000.00102,4414.580.080.000.001,863,1165.520.080.000.000.830.97

Governmental administration:
      Financial administration10,298136.452.653,956,298176.993.090.770.8623,707,42470.251.051.942.522.522.94
      Judicial and legal2,94739.050.761,110,03249.660.870.790.8827,887,73782.641.240.470.610.600.70
      General public buildings86711.490.22250,50611.210.201.031.1413,643,40540.430.610.280.370.280.32
      Other governmental administration2,60134.460.671,291,72457.791.010.600.6637,267,357110.431.650.310.410.520.61
      Interest on general debt87711.620.232,906,868130.042.270.090.1066,807,524197.962.960.060.080.660.77

General expenditures, n.e.c.:
      Misc commercial activities00.000.00810.000.000.000.002,707,8798.020.120.000.000.000.00
      Other and unallocable15,461204.863.987,298,373326.505.700.630.70137,158,796406.436.080.500.650.800.94

Utility expenditures:
    Utility expenditure7,583100.481.9511,449,844512.218.950.200.22228,078,201675.8410.120.150.190.760.88
        Capital outlay3574.730.091,816,61181.271.420.060.0650,897,505150.822.260.030.040.540.63
      Water supply4,48059.361.154,539,914203.093.550.290.3382,479,587244.403.660.240.320.830.97
      Electric power00.000.004,540,547203.123.550.000.0073,696,368218.383.270.000.000.931.09
      Gas supply3,07340.720.79235,37210.530.183.874.317,182,24421.280.321.912.490.490.58
      Transit300.400.012,134,01195.471.670.000.0064,720,002191.782.870.000.000.500.58

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 outstanding47,374627.72100.00104,523,0594,675.88100.000.131.002,042,775,1706,053.14100.000.101.000.771.00

  Short-term debt outstanding1031.360.22165,9597.420.160.181.3728,356,92884.031.390.020.160.090.11
  Long-term debt outstanding47,271626.3599.78104,357,1004,668.4699.840.131.002,014,418,2425,969.1198.610.101.010.781.01

Long-term debt issued364NANA11,343,984NANANANA264,717,314NANANANANANA
Long-term debt retired2,840NANA10,382,574NANANANA218,916,559NANANANANANA


Sources: STI: PopStats and STI: Colossus