Agenda - Council - 06/11/2019 - Laserfiche WebLink

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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 a 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 its operation. Also, certain data in these tables may be classified differently than how it appears in 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 the City. We intend for this type of comparative and trend information to complement, rather than duplicate, information in the MD&A. 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 2016 2017 2016 2017 2018 Population 20,000-100,000 20,000-100,000 25,868 26,251 26,462 Property taxes $ 455 $ 475 $ 386 $ 398 $ 432 Tax increments 42 38 27 27 37 Franchise and other taxes 45 48 Special assessments 59 59 17 37 21 Licenses and permits 42 49 20 28 39 Intergovernmental revenues 152 147 69 84 111 Charges for services 103 103 50 56 89 Other 54 48 43 46 52 Total revenue $ 952 $ 967 $ 612 $ 676 $ 781 The City's governmental funds have generated significantly less revenue per capita in total than other Minnesota cities in its population class. 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 2018 were $20,694,507, an increase of $2,955,237 from the prior year. On a per capita basis, the City received $781 in governmental fund revenue for 2018, an increase of $105 from the prior year. An increase in the approved levy, along with significant development activity contributed to the increase in most sources presented above. The only category that decreased was special assessments, which recognized more prepayments in the prior year. -8-