Ersys Logo Ersys Name
Trumbull County – Government Finance

Picture of valves

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:

4,456.65

The expenses per resident at the local level is:

4,422.42

The outstanding debt per resident at the local level is:

1,515.15

 
TrumbullOhioNational



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

Revenue903,2644,456.65100.0050,6714,578.57100.000.971.0069,621,5015,860.07100.000.761.000.781.00

  General revenue821,6064,053.7590.9648,7794,407.6196.270.920.9466,240,3705,575.4895.140.730.960.791.01

    Intergovernmental revenue381,4381,881.9942.2319,8011,789.1939.081.051.0822,295,5961,876.6332.021.001.320.951.22
      From Federal government42,760210.984.732,936265.295.790.800.823,674,613309.295.280.680.900.861.10
      From State government338,6781,671.0237.4916,8651,523.9033.281.101.1318,620,9831,567.3426.751.071.400.971.24
      From local government00.000.0000.090.000.000.0000.000.000.000.000.000.00

    General revenue from own sources440,1682,171.7648.7328,9782,618.4257.190.830.8543,944,7743,698.8563.120.590.770.710.91
      Taxes315,3971,556.1534.9223,0492,082.6845.490.750.7730,196,4932,541.6543.370.610.810.821.05
        Property215,4581,063.0623.8521,8821,977.2343.180.540.5519,004,8061,599.6427.300.660.871.241.58
        Sales & gross receipts38,808191.484.3095786.471.892.212.273,465,159291.664.980.660.860.300.38
          General sales31,936157.573.5400.090.001,743.831,791.533,032,324255.234.360.620.810.000.00
          Selective sales6,87233.910.7695786.471.890.390.40432,83536.430.620.931.222.373.04
            Motor fuel sales4,37621.590.4800.090.00238.95245.48181,05415.240.261.421.860.000.00
            Alcoholic beverage sales320.160.0000.090.001.751.8023,7772.000.030.080.100.000.00
            Tobacco product sales90.040.0000.090.000.490.50860.010.006.138.070.000.00
            Public utilities1,5127.460.1700.090.0082.5684.8249,1274.140.071.802.370.000.00
            Other selective sales9434.650.1095786.471.890.050.06178,79115.050.260.310.415.757.35
        Individual income tax47,013231.965.2000.090.002,567.092,637.326,542,877550.729.400.420.550.000.00
        Corporate income tax3,69818.250.4100.090.00201.93207.45400,42033.700.580.540.710.000.00
        Motor vehicle license2,53012.480.28322.890.064.324.44126,35710.640.181.171.540.270.35
        Other taxes7,89038.930.8717816.080.352.422.49656,87455.290.940.700.930.290.37

      Charges & misc general revenue124,771615.6113.815,929535.7411.701.151.1813,748,2811,157.2019.750.530.700.460.59
        Current charges72,084355.667.984,213380.688.310.930.969,520,809801.3713.680.440.580.480.61
          Education11,04254.481.2262256.201.230.971.001,182,65899.541.700.550.720.560.72
            Institution of higher education1510.750.0200.090.008.258.47154,06312.970.220.060.080.000.00
            School lunch sales (gross)9524.700.11121.080.024.334.4569,2185.830.100.811.060.190.24
          Hospitals420.210.0000.090.002.292.362,207,849185.843.170.000.000.000.00
          Highways900.440.0180.720.020.610.6326,7292.250.040.200.260.320.41
          Air transportation (airports)5752.840.06151.360.032.092.15297,14325.010.430.110.150.050.07
          Parking facilities210.100.0000.090.001.151.1850,2834.230.070.020.030.000.00
          Sea and inland port facilities00.000.0000.090.000.000.0030,0652.530.040.000.000.000.00
          Natural resources120.060.0020.180.000.330.3417,5131.470.030.040.050.120.16
          Parks and recreation1330.660.01232.080.050.320.32306,69025.810.440.030.030.080.10
          Housing and comm development3,33416.450.3700.090.00182.05187.03159,83313.450.231.221.610.000.00
          Sewerage28,620141.213.171,955176.653.860.800.822,701,814227.413.880.620.820.780.99
          Solid waste management5,92529.230.6678470.841.550.410.42385,36032.440.550.901.192.182.80
          Other charges22,290109.982.4780472.651.591.511.562,154,872181.383.100.610.800.400.51

        Miscellaneous general revenue52,687259.955.831,716155.063.391.681.724,227,472355.836.070.730.960.440.56
          Interest earnings1,5507.650.1719917.980.390.430.44638,87953.770.920.140.190.330.43
          Special assessments2,74113.520.3011210.120.221.341.37423,07235.610.610.380.500.280.36
          Sale of property7183.540.08262.350.051.511.55106,4198.960.150.400.520.260.34
          Other general revenue47,678235.245.281,379124.602.721.891.943,059,102257.494.390.911.200.480.62

  Utility revenue81,658402.909.041,892170.963.732.362.423,381,131284.594.861.421.860.600.77
    Water supply42,393209.164.691,892170.963.731.221.262,153,662181.273.091.151.520.941.21
    Electric power39,265193.734.3500.090.002,144.022,202.671,109,75993.411.592.072.730.000.00
    Gas supply00.000.0000.090.000.000.0040,0523.370.060.000.000.000.00
    Transit00.000.0000.090.000.000.0077,6586.540.110.000.000.000.00

  Liquor store revenue00.000.0000.090.000.000.0000.000.000.000.000.000.00

  Insurance trust revenue00.000.0000.090.000.000.0000.000.000.000.000.000.00
    Unemployment compensation00.000.0000.090.000.000.0000.000.000.000.000.000.00
    Employee retirement00.000.0000.090.000.000.0000.000.000.000.000.000.00
    Workers' compensation00.000.0000.090.000.000.0000.000.000.000.000.000.00
    Other insurance trust revenue00.000.0000.090.000.000.0000.000.000.000.000.000.00

Expenditure896,3284,422.42100.0054,7074,943.25100.000.891.0065,665,7965,527.11100.000.801.000.891.00

  Intergovernmental expenditure00.000.0000.090.000.000.0000.000.000.000.000.000.00
  Direct expenditure896,3284,422.42100.0054,7074,943.25100.000.891.0065,665,7965,527.11100.000.801.000.891.00
    Current operation826,7004,078.8892.2339,3783,558.1571.981.151.2856,808,9134,781.6386.510.851.070.740.83
    Capital outlay60,870300.336.7914,2751,289.8726.090.230.266,831,721575.0310.400.520.652.242.51
      Construction60,870300.336.7914,2751,289.8726.090.230.266,831,721575.0310.400.520.652.242.51
    Assistance and subsidies00.000.0000.090.000.000.0027,0862.280.040.000.000.000.00
    Interest on debt8,75843.210.981,05495.241.930.450.511,998,076168.183.040.260.320.570.63
    Insurance benefits and repayments00.000.0000.090.000.000.0000.000.000.000.000.000.00
    Exhibit: salaries & wages335,3431,654.5637.4112,6731,145.1223.171.441.6218,856,0281,587.1228.721.041.300.720.81

  Direct expenditure by function896,3284,422.42100.0054,7074,943.25100.000.891.0065,665,7965,527.11100.000.801.000.891.00
    Direct general expenditure831,5864,102.9992.7853,4034,825.4397.620.850.9561,880,2675,208.4994.240.790.980.931.04
      Capital outlay56,872280.606.3414,2361,286.3526.020.220.246,198,554521.739.440.540.672.472.76


Education services:
      Other direct general expenditure774,7143,822.3986.4339,1673,539.0871.591.081.2155,681,7134,686.7584.800.821.020.760.84
      Education435,1372,146.9448.5534,9413,157.2263.870.680.7629,428,0372,476.9744.810.871.081.271.43
          Capital outlay16,53381.571.8412,6641,144.3023.150.070.082,629,434221.324.000.370.465.175.78
        Higher education1,1675.760.1300.090.0063.7271.23621,41352.300.950.110.140.000.00
          Capital outlay00.000.0000.090.000.000.0039,1993.300.060.000.000.000.00
        Elementary & Secondary education433,9702,141.1848.4234,9413,157.2263.870.680.7628,779,5382,422.3843.830.881.101.301.46
          Capital outlay16,53381.571.8412,6641,144.3023.150.070.082,590,235218.023.940.370.475.255.87
        Other education00.000.0000.090.000.000.0027,0862.280.040.000.000.000.00
      Libraries10,18250.241.1450445.540.921.101.23549,99546.290.841.091.360.981.10


Social services and income maintenance:
      Public welfare42,569210.034.7550.450.01464.89519.642,542,104213.973.870.981.230.000.00
        Other public welfare42,569210.034.7550.450.01464.89519.642,542,104213.973.870.981.230.000.00
      Hospitals40.020.0000.090.000.220.241,949,640164.102.970.000.000.000.00
        Capital outlay00.000.0000.090.000.000.0045,7773.850.070.000.000.000.00
      Health33,808166.813.771,292116.742.361.431.601,910,430160.802.911.041.300.730.81
      Social insurance administration00.000.0000.090.000.000.0000.000.000.000.000.000.00
      Veterans' services00.000.0000.090.000.000.0000.000.000.000.000.000.00

Transportaion:
      Highways36,476179.974.073,372304.696.160.590.662,548,171214.483.880.841.051.421.59
        Capital outlay5,42126.750.6062856.751.150.470.53812,86268.421.240.390.490.830.93
      Air transportation (airports)1,4337.070.16232.080.043.403.80351,02329.550.530.240.300.070.08
      Parking facilities960.470.0100.090.005.245.8669,0325.810.110.080.100.000.00
      Sea and inland port facilities00.000.0000.090.000.000.0046,3403.900.070.000.000.000.00

Public safety:
      Police protection53,471263.825.973,739337.856.830.780.873,799,347319.795.790.821.031.061.18
      Fire protection28,341139.833.1676268.851.392.032.272,296,880193.333.500.720.900.360.40
      Correction1,0355.110.12443.980.081.281.44471,17239.660.720.130.160.100.11
        Capital outlay00.000.0000.090.000.000.0027,3542.300.040.000.000.000.00
      Protective inspection & regulation1670.820.02443.980.080.210.2384,0627.080.130.120.150.560.63

Environment and housing:
      Natural resources3231.590.0433830.540.620.050.06122,54610.310.190.150.192.963.31
        Capital outlay130.060.0090.810.020.080.0928,5822.410.040.030.030.340.38
      Parks and recreation3,31416.350.3718816.990.340.961.081,525,021128.362.320.130.160.130.15
        Capital outlay7993.940.0900.090.0043.6348.77346,82529.190.530.140.170.000.00
      Housing and comm development19,84797.922.2100.090.001,083.721,211.352,157,729181.623.290.540.670.000.00
      Sewerage45,820226.075.111,01391.531.852.472.762,493,380209.873.801.081.350.440.49
        Capital outlay19,34995.472.1620818.790.385.085.68750,00663.131.141.511.890.300.33
      Solid waste management8,68442.850.9766460.001.210.710.80604,59850.890.920.841.051.181.32
        Capital outlay2,67013.170.3000.090.00145.79162.9643,8453.690.073.574.460.000.00

Governmental administration:
      Financial administration31,716156.483.5455049.701.013.153.52886,61174.631.352.102.620.670.74
      Judicial and legal22,294110.002.491,572142.042.870.770.871,573,958132.482.400.831.041.071.20
      General public buildings7,76238.300.8750445.540.920.840.94309,50626.050.471.471.841.751.95
      Other governmental administration7,75238.250.861,04294.151.900.410.451,243,137104.641.890.370.460.901.01
      Interest on general debt8,22140.560.9281373.461.490.550.621,825,563153.662.780.260.330.480.53

General expenditures, n.e.c.:
      Misc commercial activities6803.360.0861855.841.130.060.0796,2538.100.150.410.526.897.71
      Other and unallocable32,454160.133.621,375124.242.511.291.442,995,732252.154.560.640.790.490.55

Utility expenditures:
    Utility expenditure64,742319.437.221,304117.832.382.713.033,785,529318.635.761.001.250.370.41
        Capital outlay3,99819.730.45393.520.075.606.26633,16753.290.960.370.460.070.07
      Water supply33,433164.963.731,304117.832.381.401.561,913,337161.052.911.021.280.730.82
      Electric power31,220154.043.4800.090.001,704.731,905.501,039,12587.461.581.762.200.000.00
      Gas supply20.010.0000.090.000.110.1238,5483.240.060.000.000.000.00
      Transit870.430.0100.090.004.755.31794,51966.871.210.010.010.000.00

Liquor store expenditures:
    Liquor store expenditure00.000.0000.090.000.000.0000.000.000.000.000.000.00

Insurance trust expenditures:
    Insurance trust expenditure00.000.0000.090.000.000.0000.000.000.000.000.000.00
      Unemployment compensation00.000.0000.090.000.000.0000.000.000.000.000.000.00
      Employee retirement00.000.0000.090.000.000.0000.000.000.000.000.000.00
      Workers' compensation00.000.0000.090.000.000.0000.000.000.000.000.000.00
      Other insurance trust00.000.0000.090.000.000.0000.000.000.000.000.000.00

Debt outstanding307,0871,515.15100.0031,9932,890.85100.000.521.0038,878,6943,272.43100.000.461.000.881.00

  Short-term debt outstanding14,72672.664.8000.090.00804.101,534.19287,00424.160.743.016.500.000.00
  Long-term debt outstanding292,3611,442.4995.2031,9932,890.85100.000.500.9538,591,6903,248.2899.260.440.960.891.01

Long-term debt issued24,919NANA0NANANANA2,925,328NANANANANANA
Long-term debt retired20,034NANA1,205NANANANA3,781,560NANANANANANA


Sources: STI: PopStats and STI: Colossus