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Notice Annual Summary Financial Report -
<br /> City of Ramsey
<br /> The purpose of this report is to provide a summary to interested citizens of financial information concerning the
<br /> City of Ramsey. The complete financial statements may be examined on our website at www.cityoframsey.com or at
<br /> City Hall,7550 Sunwood Drive NW,Ramsey,MN 55303. Questions should be directed to the Finance Depart-
<br /> ment at 763-427-1410.
<br /> Revenues and Expenditures for General Operations
<br /> (Governmental Funds)
<br /> Percent
<br /> Increase
<br /> Revenues: 2015 2014 (Decrease)
<br /> Property Taxes $ 10,175,399 $ 9,544,771 6.61%
<br /> Special Assessments 468,844 326,465 43.61%
<br /> Licenses and Permits 784,954 458,532 71.19%
<br /> Intergovernmental Revenue 2,052,791 2,615,851 -21.52%
<br /> Charges for Services 1,779,697 966,951 84.05%
<br /> Fines and forfeits 60,236 72,216 -16.59%
<br /> Other Revenue:
<br /> Investment Earnings 416,508 965,382 56.86%
<br /> Developer Reimbursement 8,692,463 - **
<br /> Land Sale Gains 1,442,047 -
<br /> Miscellaneous 545,284 596,208 -8.54%
<br /> Total Revenues $ 26,418,223 $ 15,546,376 69.93%
<br /> Per Capita* $ 1,032 $ 623 65.53%
<br /> Expenditures:
<br /> General Government $ 3,119,273 $ 3,175,959 -1.78%
<br /> Public Safety 4,011,871 3,809,209 5.32%
<br /> Highways and Streets 1,815,409 2,930,144 -38.04%
<br /> Culture and Recreation 1,428,116 1,004,750 42.14%
<br /> Debt Service:
<br /> Bond Principal retirement 8,780,000 1,580,000 455.70%**
<br /> Interest and fiscal charges 1,103,614 1,179,859 -6.46%
<br /> Capital Outlay 6,314,573 3,688,952 71.18%
<br /> Total Expenditures $ 26,572,856 $ 17,368,873 52.99%
<br /> Per Capita* $ 1,066 $ 697 52.99%
<br /> Total Long-term Indebtedness $ 34,206,246 $ 33,242,334 2.90%
<br /> Per Capita* $ 1,336 $ 1,368 -2.29%
<br /> Governmental Fund Balance-December 31
<br /> General Fund
<br /> Reserved $ - $ -
<br /> Unreserved - -
<br /> Nonspendable 1,613.00 4,805.00
<br /> Assigned - -
<br /> Unassigned 7,271,432.00 6,977,764.00
<br /> Total General Fund $ 7,273,045 $ 6,982,569 4.16%
<br /> Per Capita* $ 284 $ 280 1.46%
<br /> All other Governmental Funds
<br /> Reserved $ - $ -
<br /> Unreserved
<br /> Nonspendable
<br /> Restricted 18,484,179.00 15,295,400.00
<br /> Committed 890,603.00 743,944.00
<br /> Assigned 12,645,683.00 10,651,554.00
<br /> Unassigned (556,135.00) (110,979.00)
<br /> Total all other governmental funds $ 31,464,330 $ 26,579,919 18.38%
<br /> Per Capita* $ 1,229 $ 1,066 15.31%
<br /> *Calculated using population estimate of 25,598 for 2015 and 24,935 for 2014
<br /> **The increase in bond principal retirement was largely attributed to the developer reimbursement related to
<br /> the Residence at the COR apartment building.
<br /> Ramsey Resident • July/August 2016 7
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