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Moore 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:

8,634.43

The expenses per resident at the local level is:

7,829.38

The outstanding debt per resident at the local level is:

2,707.17

 
MooreNorth CarolinaNational



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

Revenue909,5258,634.43100.0021,7982,827.24100.003.051.0064,111,5155,934.66100.001.451.000.481.00

  General revenue875,1298,307.9096.2221,4322,779.7798.322.990.9857,832,2325,353.4090.211.551.070.521.09

    Intergovernmental revenue650,1906,172.4871.497,663993.9035.156.212.0322,350,9012,068.9734.862.982.050.481.01
      From Federal government24,507232.652.691,677217.517.691.070.353,949,586365.606.160.640.440.591.25
      From State government625,6835,939.8268.795,986776.3927.467.652.5118,401,3151,703.3728.703.492.400.460.96
      From local government00.000.0000.130.000.000.0000.000.000.000.000.000.00

    General revenue from own sources224,9392,135.4224.7313,7691,785.8663.171.200.3935,481,3313,284.4355.340.650.450.541.14
      Taxes167,3401,588.6218.409,0861,178.4741.681.350.4418,271,4951,691.3528.500.940.650.701.46
        Property115,2431,094.0412.678,5961,114.9239.430.980.3212,507,0791,157.7519.510.940.650.962.02
        Sales & gross receipts48,968464.875.3800.130.003,584.151,173.585,060,019468.397.890.990.680.000.00
          General sales45,629433.175.0200.130.003,339.751,093.564,485,444415.217.001.040.720.000.00
          Selective sales3,33931.700.3700.130.00244.3980.02574,57553.190.900.600.410.000.00
            Motor fuel sales00.000.0000.130.000.000.0000.000.000.000.000.000.00
            Alcoholic beverage sales3,33931.700.3700.130.00244.3980.02134,34112.440.212.551.750.000.00
            Tobacco product sales00.000.0000.130.000.000.0000.000.000.000.000.000.00
            Public utilities00.000.0000.130.000.000.0000.000.000.000.000.000.00
            Other selective sales00.000.0000.130.000.000.00440,23440.750.690.000.000.000.00
        Individual income tax00.000.0000.130.000.000.0000.000.000.000.000.000.00
        Corporate income tax00.000.0000.130.000.000.0000.000.000.000.000.000.00
        Motor vehicle license1341.270.0141353.571.890.020.01116,90810.820.180.120.084.9510.39
        Other taxes2,99528.430.33779.990.352.850.93587,48954.380.920.520.360.180.39

      Charges & misc general revenue57,599546.816.334,683607.3921.480.900.2917,209,8361,593.0826.840.340.240.380.80
        Current charges44,276420.334.874,215546.6919.340.770.2514,948,9981,383.7923.320.300.210.400.83
          Education5,03247.770.5528036.321.281.320.43386,96135.820.601.330.921.012.13
            Institution of higher education4,50642.780.5000.130.00329.81107.99257,06723.800.401.801.240.000.00
            School lunch sales (gross)3533.350.04222.850.101.170.3841,7193.860.070.870.600.741.55
          Hospitals4,30240.840.4700.130.00314.88103.1010,037,795929.1815.660.040.030.000.00
          Highways00.000.0000.130.000.000.003,4480.320.010.000.000.000.00
          Air transportation (airports)4,83445.890.53729.340.334.911.61599,21555.470.930.830.570.170.35
          Parking facilities00.000.0000.130.000.000.0053,9024.990.080.000.000.000.00
          Sea and inland port facilities00.000.0000.130.000.000.0000.000.000.000.000.000.00
          Natural resources740.700.0100.130.005.421.7720,1821.870.030.380.260.000.00
          Parks and recreation1,0369.840.11121.560.066.322.07251,33923.270.390.420.290.070.14
          Housing and comm development00.000.0000.130.000.000.00110,31710.210.170.000.000.000.00
          Sewerage14,785140.361.63806104.543.701.340.441,899,076175.792.960.800.550.591.25
          Solid waste management6,16758.550.683,039394.1613.940.150.05720,10266.661.120.880.605.9112.41
          Other charges8,04676.380.8860.780.0398.1532.14866,66180.221.350.950.650.010.02

        Miscellaneous general revenue13,323126.481.4646860.702.152.080.682,260,838209.283.530.600.420.290.61
          Interest earnings1,57514.950.1714318.550.660.810.26152,41914.110.241.060.731.312.76
          Special assessments00.000.00455.840.210.000.0017,0081.570.030.000.003.717.78
          Sale of property2,22421.110.24607.780.282.710.89114,29410.580.182.001.370.741.54
          Other general revenue9,52490.411.0522028.531.013.171.041,977,117183.023.080.490.340.160.33

  Utility revenue19,587185.952.1536647.471.683.921.284,997,179462.587.790.400.280.100.22
    Water supply19,108181.402.1036647.471.683.821.251,913,317177.112.981.020.700.270.56
    Electric power00.000.0000.130.000.000.002,885,932267.144.500.000.000.000.00
    Gas supply00.000.0000.130.000.000.00154,72414.320.240.000.000.000.00
    Transit4794.550.0500.130.0035.0611.4843,2064.000.071.140.780.000.00

  Liquor store revenue14,809140.591.6300.130.001,083.92354.921,282,104118.682.001.180.810.000.00

  Insurance trust revenue00.000.0000.130.000.000.0000.000.000.000.000.000.00
    Unemployment compensation00.000.0000.130.000.000.0000.000.000.000.000.000.00
    Employee retirement00.000.0000.130.000.000.0000.000.000.000.000.000.00
    Workers' compensation00.000.0000.130.000.000.0000.000.000.000.000.000.00
    Other insurance trust revenue00.000.0000.130.000.000.0000.000.000.000.000.000.00

Expenditure824,7237,829.38100.0029,6103,840.47100.002.041.0062,722,8515,806.11100.001.351.000.661.00

  Intergovernmental expenditure00.000.0000.130.000.000.0000.000.000.000.000.000.00
  Direct expenditure824,7237,829.38100.0029,6103,840.47100.002.041.0062,722,8515,806.11100.001.351.000.661.00
    Current operation762,4147,237.8692.4417,6622,290.7959.653.161.5553,847,0114,984.5085.851.451.080.460.69
    Capital outlay40,377383.314.9011,0381,431.6537.280.270.137,267,518672.7411.590.570.422.133.22
      Construction40,377383.314.9011,0381,431.6537.280.270.137,267,518672.7411.590.570.422.133.22
    Assistance and subsidies6,18258.690.7500.130.00452.48221.95144,03613.330.234.403.260.000.00
    Interest on debt15,750149.521.91910118.033.071.270.621,464,286135.552.331.100.820.871.32
    Insurance benefits and repayments00.000.0000.130.000.000.0000.000.000.000.000.000.00
    Exhibit: salaries & wages111,4711,058.2313.527,9031,025.0326.691.030.5111,963,0181,107.3919.070.960.710.931.40

  Direct expenditure by function824,7237,829.38100.0029,6103,840.47100.002.041.0062,722,8515,806.11100.001.351.000.661.00
    Direct general expenditure798,2577,578.1396.7928,5443,702.2096.402.051.0056,028,7025,186.4589.331.461.080.711.08
      Capital outlay37,714358.034.5710,4581,356.4235.320.260.136,113,334565.909.750.630.472.403.62


Education services:
      Other direct general expenditure760,5437,220.0992.2218,0862,345.7861.083.081.5149,915,3684,620.5579.581.561.160.510.77
      Education196,4271,864.7523.8218,3642,381.8462.020.780.3821,177,5191,960.3533.760.950.711.221.84
          Capital outlay14,887141.331.8110,1521,316.7334.290.110.051,950,260180.533.110.780.587.2911.03
        Higher education42,954407.785.2100.130.003,143.961,542.182,231,472206.563.561.971.460.000.00
          Capital outlay11,826112.271.4300.130.00865.59424.59330,41130.590.533.672.720.000.00
        Elementary & Secondary education147,2911,398.2817.8618,3642,381.8462.020.590.2918,802,0111,740.4629.980.800.601.372.07
          Capital outlay3,06129.060.3710,1521,316.7334.290.020.011,619,849149.952.580.190.148.7813.28
        Other education6,18258.690.7500.130.00452.48221.95144,03613.330.234.403.260.000.00
      Libraries2,73025.920.33719.210.242.811.38289,82226.830.460.970.720.340.52


Social services and income maintenance:
      Public welfare12,359117.331.5000.130.00904.60443.721,939,534179.543.090.650.480.000.00
        Other public welfare12,359117.331.5000.130.00904.60443.721,939,534179.543.090.650.480.000.00
      Hospitals00.000.0081.040.030.000.0010,497,061971.6916.740.000.000.000.00
        Capital outlay00.000.0000.130.000.000.00826,52276.511.320.000.000.000.00
      Health452,6334,297.0054.8857975.101.9657.2228.074,194,344388.266.6911.078.210.190.29
      Social insurance administration00.000.0000.130.000.000.0000.000.000.000.000.000.00
      Veterans' services00.000.0000.130.000.000.0000.000.000.000.000.000.00

Transportaion:
      Highways6,71063.700.8160278.082.030.820.40733,88267.931.170.940.701.151.74
        Capital outlay1,34112.730.1600.130.0098.1548.15296,36827.430.470.460.340.000.00
      Air transportation (airports)5,54552.640.6715820.490.532.571.26797,02273.781.270.710.530.280.42
      Parking facilities00.000.0000.130.000.000.0067,3836.240.110.000.000.000.00
      Sea and inland port facilities00.000.0000.130.000.000.0000.000.000.000.000.000.00

Public safety:
      Police protection22,583214.392.741,597207.135.391.040.513,313,854306.765.280.700.520.681.02
      Fire protection8,30478.831.0113116.990.444.642.281,379,966127.742.200.620.460.130.20
      Correction5,79354.990.7072794.292.460.580.29674,67062.451.080.880.651.512.28
        Capital outlay00.000.0000.130.000.000.0036,7583.400.060.000.000.000.00
      Protective inspection & regulation7597.210.0900.130.0055.5527.25144,04313.330.230.540.400.000.00

Environment and housing:
      Natural resources6676.330.0823830.870.800.210.10210,56819.490.340.320.241.582.39
        Capital outlay1931.830.028811.410.300.160.0837,4143.460.060.530.393.304.98
      Parks and recreation6,11358.030.7400.130.00447.43219.471,232,047114.051.960.510.380.000.00
        Capital outlay1,0409.870.1300.130.0076.1237.34343,94431.840.550.310.230.000.00
      Housing and comm development3,65634.710.4400.130.00267.60131.261,825,874169.022.910.210.150.000.00
      Sewerage11,071105.101.3400.130.00810.33397.481,709,529158.252.730.660.490.000.00
        Capital outlay5234.970.0600.130.0038.2818.78806,70374.671.290.070.050.000.00
      Solid waste management10,784102.381.312,827366.679.550.280.14928,85385.981.481.190.884.266.45
        Capital outlay7096.730.098911.540.300.580.2969,4136.430.111.050.781.802.72

Governmental administration:
      Financial administration4,31640.970.5245258.631.530.700.34563,15752.130.900.790.581.121.70
      Judicial and legal12,521118.871.5245759.271.542.010.98172,85616.000.287.435.513.705.60
      General public buildings1,45113.770.1822529.180.760.470.23576,25653.340.920.260.190.550.83
      Other governmental administration3,82236.280.46859111.412.900.330.16794,09373.511.270.490.371.522.29
      Interest on general debt14,701139.561.78910118.033.071.180.581,282,705118.742.051.180.870.991.50

General expenditures, n.e.c.:
      Misc commercial activities00.000.0060.780.020.000.0015,3111.420.020.000.000.550.83
      Other and unallocable15,312145.361.8633343.191.123.371.651,508,353139.622.401.040.770.310.47

Utility expenditures:
    Utility expenditure15,156143.881.841,066138.263.601.040.515,632,063521.358.980.280.200.270.40
        Capital outlay2,66325.280.3258075.231.960.340.161,154,184106.841.840.240.180.701.06
      Water supply13,340126.641.621,066138.263.600.920.452,026,286187.573.230.680.500.741.11
      Electric power00.000.0000.130.000.000.002,541,405235.254.050.000.000.000.00
      Gas supply00.000.0000.130.000.000.00131,06112.130.210.000.000.000.00
      Transit1,81617.240.2200.130.00132.9265.20933,31186.391.490.200.150.000.00

Liquor store expenditures:
    Liquor store expenditure11,310107.371.3700.130.00827.82406.061,062,08698.311.691.090.810.000.00

Insurance trust expenditures:
    Insurance trust expenditure00.000.0000.130.000.000.0000.000.000.000.000.000.00
      Unemployment compensation00.000.0000.130.000.000.0000.000.000.000.000.000.00
      Employee retirement00.000.0000.130.000.000.0000.000.000.000.000.000.00
      Workers' compensation00.000.0000.130.000.000.0000.000.000.000.000.000.00
      Other insurance trust00.000.0000.130.000.000.0000.000.000.000.000.000.00

Debt outstanding285,1652,707.17100.0027,5063,567.57100.000.761.0031,805,4102,944.15100.000.921.001.211.00

  Short-term debt outstanding00.000.0000.130.000.000.0011,4751.060.040.000.000.000.00
  Long-term debt outstanding285,1652,707.17100.0027,5063,567.57100.000.761.0031,793,9352,943.0999.960.921.001.211.00

Long-term debt issued8,660NANA0NANANANA4,470,821NANANANANANA
Long-term debt retired21,723NANA2,348NANANANA4,012,492NANANANANANA


Sources: STI: PopStats and STI: Colossus