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Finance of Rome, GA

The City of Rome collected $33.57 million in total revenue in 1993. In 1997, the city received $41.90 million, an increase of 24.8%. Total revenue in 1997 equaled $1,356 per capita. The statewide revenue per capita for this same year was $732.

From 1993 to 1997, own source revenues for Rome rose from $19.30 million to $23.37 million, an increase of 21.1%. Own source revenues are all revenues except intergovernmental revenues and enterprise funds. Per capita own source revenues amounted to $756 in 1997. This compares to a statewide per capita amount of $624.

Property tax revenues amounted to $5.72 million in 1993, accounting for 29.6% of the city's own source revenue. In 1997, property taxes accounted for 28.8% of own source revenue, with $6.73 million collected.

Intergovernmental revenue includes money received from the federal government, state government and other local governments. In 1997, Rome received $5.37 million in intergovernmental revenue, which accounted for 12.8% of total revenues. The city received $3.60 million from federal sources, $1.14 million from the state and $628,000 from other local governments.

General operating expenditures for Rome in 1993 equaled $19.56 million, or $658 per capita. In 1997, general operating expenditures declined by 14.4% to $16.74 million, which was $542 per capita. Statewide per capita general operating expenditures amounted to $588 in 1997.

Historically, the top three expenditure categories for cities are administration, highways and streets, and public safety. In 1997, the City of Rome spent $4.94 million on administration or $160 per capita. For the same year, $2.00 million was spent on highways and streets, or $65 per capita. Expenditures for public safety include police services, fire services and jails. Rome spent $7.04 million or $228 per capita in 1997 for public safety services.

In 1993, the City of Rome issued a total of $13.54 million in new debt, which could include revenue bonds, general obligation bonds, capital leases, short-term debt and other long-term debt. This represented $456 per capita. In 1997, Rome issued $11.01 million in debt, or $356 per capita. Cities often issue debt to help finance large capital projects, such as buildings, roads, parks and water/sewer systems. Given the nature of capital projects, the amount of debt issued by a city can understandably vary greatly from one year to the next.

 

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