Question 1

Where does municipal finance data come from?

Accepted Answer

Municipal finance data comes from the Ohio Auditor of State's financial reports. All Ohio municipalities are required to file annual financial statements. These reports are public record.

Question 2

What are the main revenue sources for a municipality?

Accepted Answer

Most Ohio municipalities rely on municipal income taxes, property taxes, intergovernmental transfers, charges for services, and utility taxes. Ohio is one of the few states that allows municipalities to levy their own income tax.

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

Ohio 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.

Mayfield, OH

Mayfield Municipal Budget

Finances — FY 2022