Agenda - Council - 07/27/1982 - Laserfiche WebLink

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I I I I I I TO: FROM: DATE: RE: Lloyd Schnelle Jeanne Moen, City Accountant July 20, 1982 Financial Health Profile. Attached is a copy of a letter we received from the State of Minnesota along with the summary statistics of the results of the Minnesota Financial Health Profile. Throughout the summary I have encircled the amounts related to Ramsey so that a overall comparison could be made. Following are some general comments regarding where the City of Ramsey lies within this summary. Total Revenues and Interest Income: Ramsey is the minimum for cities with populations between 9~000 and 12,000. These two categories are related, and as far as interest is concerned, we have no data to compare cash balances, the only assumption we can make is that if our revenues are the lowest, our cash balance will be close to the lowest also. State Revenues and Intergovernmental Revenues: Ramsey is above the minimum, but no where near the median or average'figures. In~er~st Payments, Per Capita Debt, Current Expenditures ~nd Per Capita Current Expenditures: Ramsey is again the minimum. The Current Expenditures (which includes street improvements covered by special assessments) looks very favorable as compared to other cities. General Fund Undesignated Balance: Ramsey is close to the median figure, the minimum Undesignated Fund Balance being a deficit of $43,024. General Fund Undesignated Balance as a per cent of Current Expenditures: Ramsey's Fund Balance is 19.81% of Current Expenditures, which compares to the average figures for cities of our size. This is also a very healthy position as mentioned by Arne Carlson in his proposed press release. Short-term Liabilities as a per cent of Own-Source Revenues: This figure is a comparison of total short- term liabilities, to revenues other than Intergovernmental Revenues. Ramsey falls between the median and the average in this classification.