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City of Ramsey, Minnesota <br /> <br />Other Impacts <br /> <br />The new projected growth does not appear to be financially self-sufficient. <br /> <br />Budqet Revenue Analysis <br /> <br />Using the average trends, projections were made for the budget through 2005. Based on these <br />projections we are projecting deficits from revenues less expenditures in 2000 through 2002. <br /> <br />As a percent of budget, several revenue trends appear evident. The City is growing more <br />reliant on the property tax reven0es and intergovernmental revenues. Licenses and permits, <br />charges for services, and investment earnings are decreasing as a percent of the budget. The <br />City may want to examine their current fee structure. <br /> <br />As a percent of budget, one trend emerges. Public Works is decreasing as a percent of budget <br />by 9.1%. <br /> <br />Recommendations <br /> <br />The results of the fiscal impact analysis indicate that projected growth will not be self-sufficient, <br />based on current development and financial trends. Springsted offers the following <br />recommendations to help the City "close the gap" between growth-related revenues and costs <br />and develop strategies to increase the likelihood that new development will generate sufficient <br />revenue to cover growth-related costs: <br /> <br />1. Develop a long-range financial plan and review existing financial management policies <br /> to ensure their consistency with the financial plan, <br /> <br />2. Identify opportunities to diversity General Fund revenues and increase the use of non- <br /> tax levy revenues, and <br /> <br />3. Explore the fiscal impact of different planning scenarios. <br /> <br />[] SPRINGSTED -20- Page 2 <br /> <br /> <br />