Revenue and Expenditures

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Presentation transcript:

Revenue and Expenditures

Federal Revenue Sources individual and corporate income taxes (#1) payroll taxes (#2) excise taxes estate taxes gift taxes custom duties tariffs miscellaneous sources such as entrance fees to national parks,…

Federal Expenditures Social security (#1) Medicare income security Medicaid national defense (#2) interest on the national debt various programs for education, highways, natural resources,… specialized depts. and agencies that provide services

State Revenue Sources intergovernmental revenues sales taxes excise taxes estate taxes contributions corporate and individual income tax higher education property tax fines fees: user fee, disposal fees, impact fees, licenses, permits inheritance tax

State Expenditures Miscellaneous public welfare colleges and universities employee retirement plans highways hospitals and health various other state agencies and facilities

Local Revenue intergovernmental revenues property tax water and electric utility systems sales taxes local income taxes fines and fees

Local Expenditures elementary and secondary education miscellaneous water and electric power police and fire protection hospitals and health interest on debt