Agenda - Council - 06/09/2015 - Laserfiche WebLink

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GOVERNMENTAL FUND EXPENDITURES The expenditures of governmental funds will also vary from state-wide averages and from year-to-year, based on the City's circumstances. Expenditures are classified into three types as follows: • Current — These are typically the general operating type expenditures occurring on an annual basis, and are primarily funded by general sources such as taxes and intergovernmental revenues. • Capital Outlay and Construction — These expenditures do not occur on a consistent basis, more typically fluctuating significantly from year-to-year. Many of these expenditures are project -oriented, and are often funded by specific sources that have benefited from the expenditure, such as special assessment improvement projects. • Debt Service — Although the expenditures for debt service may be relatively consistent over the term of the respective debt, the funding source is the important factor. Some debt may be repaid through specific sources such as special assessments or redevelopment funding, while other debt may be repaid with general property taxes. The City's expenditures per capita of its governmental funds for the past three years, together with state-wide averages, are presented in the following table: The City has historically and consistently used limited expenditure functions for financial statement reporting purposes. As the City has grown and increased spending for community development and other areas, we encourage the City to review the format and level of functional detail presented in future comprehensive annual financial reports. We believe this will enhance comparisons to state-wide averages and improve financial statement transparency, identifying changes from year-to-year. Total expenditures in the City's governmental funds for 2014 were $17,368,873, an increase of $2,661,020 (18.1 percent) from the prior year. On a per capita basis, the City expended a total of $696 in 2014. Current expenditures decreased $35 per capita from last year. This decrease was primarily in street maintenance and lighting expenditures for joint project costs incurred in the prior year. Capital outlay expenditures were $119 more per capita than the prior year due to a larger street construction and park improvement expenditures in the current year. The change in debt service activity was due to scheduled debt repayment plans. in Governmental Funds Expenditures per Capita With State -Wide Averages by Population Class State -Wide City of Ramsey Year December 31, 2013 2012 2013 2014 Population 2,500-10,000 10,000-20,000 20,000-100,000 23,835 24,306 24,935 Current General government $ 129 $ 100 $ 83 $ 767 S 117 $ 127 Public safety 244 235 239 162 154 153 Street maintenance and lighting 123 121 91 184 160 118 Parks and recreation 83 99 85 35 42 40 All other 66 73 91 — — — 645 628 589 1,148 473 438 Capital outlay and construction 303 288 219 141 29 148 Debt service Principal 164 133 102 62 54 63 Interest and fiscal 55 43 39 112 50 47 219 176 141 174 104 110 Total expenditures $ 1,167 $ 1,092 $ 949 $ 1,463 S 606 S 696 The City has historically and consistently used limited expenditure functions for financial statement reporting purposes. As the City has grown and increased spending for community development and other areas, we encourage the City to review the format and level of functional detail presented in future comprehensive annual financial reports. We believe this will enhance comparisons to state-wide averages and improve financial statement transparency, identifying changes from year-to-year. Total expenditures in the City's governmental funds for 2014 were $17,368,873, an increase of $2,661,020 (18.1 percent) from the prior year. On a per capita basis, the City expended a total of $696 in 2014. Current expenditures decreased $35 per capita from last year. This decrease was primarily in street maintenance and lighting expenditures for joint project costs incurred in the prior year. Capital outlay expenditures were $119 more per capita than the prior year due to a larger street construction and park improvement expenditures in the current year. The change in debt service activity was due to scheduled debt repayment plans. in