Question 1

Where does municipal finance data come from?

Accepted Answer

Municipal finance data comes from Missouri State Auditor financial reports. All Missouri municipalities are required to file annual financial statements.

Question 2

What are the main revenue sources for a municipality?

Accepted Answer

Most Missouri municipalities rely on sales taxes, property taxes, utility taxes, charges for services, and intergovernmental transfers. Many cities levy a local sales tax in addition to the state rate.

Question 3

What is a General Fund and why does it matter?

Accepted Answer

The General Fund is the municipality's primary operating fund. It covers core services like police, fire, public works, and administration. A healthy General Fund balance (typically 25-50% of annual expenditures) indicates the town can handle unexpected expenses without raising taxes or cutting services.

Question 4

How current is this financial data?

Accepted Answer

Missouri Auditor data typically lags 6-12 months behind the current fiscal year. The most recent year with complete data is usually one to two fiscal years prior.

Independence, MO

Independence Municipal Budget

Finances — FY 2022