In 2011, the city budget, which is presented by the Mayor of Kraków on 15 November annually, has a projected revenue of 3,500,000,000 złoty. The primary sources of revenue were as follows: 14% from the municipal taxation on real estate properties and the use of amenities, 30% in transfers from the national budget, and 34% in state subsidies. Projected expenditures, totaling 3,520,000,000 złoty, included 21% in city development costs and 79% in city maintenance costs. Of the maintenance costs, as much as 39% were spent on education and childcare. The City of Kraków's development costs included; 41% toward construction of roads, transport, and communication (combined), and 25% for the city's infrastructure and environment. The city has a high bond credit rating, and some 60% of the population is under the age of 45.