State and Local Taxes and Spending

State Budgets Operating Budget: budget for day-to-day expenses. – Ex. Salaries of employees, supplies, and maintenance. Capital Budget: budget for major capital, or investment, expenditures. – Usually met by long-term borrowing or the sale of bonds.

State Tax Revenue Sales Tax State Income Taxes Corporate Income Tax Other State Taxes

State Tax Revenue Other Taxes: – Real Property: Real physical property such as land and buildings. – Personal Property: possessions such as jewelry, furniture, and boats.

State Spending

Local Government Spending and Revenue The Jobs of Local Government: – Public School Systems – Law Enforcement – Fire Protection – Public Facilities (libraries, airports) – Parks and Recreation – Public Health (inspectors, sewers, water treatment) – Public Transportation – Elections – Record Keeping (birth / death certificates) – Social Services

Local Revenue and Spending

state revenue presentation actual revenues

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Dancing Gorilla!!!!! 386 #3-7