Agenda - Council Work Session - 06/28/2016

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GOVERNMENTAL FUNDS REVENUE The following table presents the per capita revenue of the City's governmental funds for the past three years, along with state-wide averages. We have included the most recent comparative state-wide averages available from the Office of the State Auditor to provide a benchmark for interpreting the City's data. The amounts received from the typical major sources of governmental fund revenue will naturally vary between cities based on factors such as the City's stage of development, location, size and density of its population, property values, services it provides, and other attributes. It will also differ from year-to-year due to the effect of inflation and changes in the City's operation. Also,certain data on these tables may be classified differently than how it appears on the City's financial statements in order to be more comparable to the state-wide information, particularly in separating capital expenditures from current expenditures. We have designed this section of our management report using per capita data in order to better identify unique or unusual trends and activities of your city. We intend for this type of comparative and trend information to complement, rather than duplicate, information in the Management's Discussion and Analysis. An inherent difficulty in presenting per capita information is the accuracy of the population count,which for most years is based on estimates. Governmental Funds Revenue per Capita With State-Wide Averages by Population Class State-Wide City of Ramsey Year December 31,2014 2013 2014 2015 Population 2,500 10,000 10,000 20,000 20,000 100,000 24,306 24,935 25,598 Property taxes $ 427 $ 396 $ 427 $ 340 $ 356 $ 371 Tax increments 26 37 46 92 27 26 Franchise and other taxes 32 42 37 — — — Special assessments 59 51 64 15 13 18 Licenses and permits 28 27 41 30 18 31 Intergovernmental revenues 298 264 166 120 105 80 Charges for services 105 82 90 36 39 70 Other 66 72 65 44 66 436 Total revenue $ 1,041 $ 971 $ 936 $ 677 $ 624 $ 1,032 A city's stage of development, along with the way a city finances various capital projects,will impact the mix of revenue sources it receives. The City's governmental fund revenues for 2015 were $26,418,223, an increase of$10,871,847 from the prior year. On a per capita basis, the City received $1,032 in governmental fund revenue for 2015, an increase of$408 from the prior year. The City has generally generated less revenue per capita than the average City. The largest change in the table above occurred in the "Other" category of revenues, which increased$370 per capita from the prior year. This increase was caused by significant developer reimbursements and gains on the sale of land held for resale related to The COR, as previously mentioned. Increased development activity in the City also contributed to the increase in licenses and permits and charges for services presented in the table above. -7-