Agenda - Council - 06/23/2020 - Laserfiche WebLink

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GOVERNNIENTAL 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 they appear 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 2017 2018 2017 2018 2019 Population 20,000-100,000 20,000-100,000 26,251 26,462 27,051 Property taxes $ 475 $ 493 $ 398 $ 432 $ 436 Tax increments 38 43 27 37 40 Franchise and other taxes 48 50 Special assessments 59 57 37 21 38 Licenses and permits 49 47 28 39 33 Intergovernmental revenues 147 157 84 111 56 Charges for services 103 112 56 89 70 Other 48 49 46 52 81 Total revenue $ 967 $ 1,008 $ 676 $ 781 $ 754 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 2019 were $20,400,906, a decrease of $293,601 from the prior year. On a per capita basis, the City received $754 in governmental fund revenue for 2019, a decrease of $27 from the prior year. The largest change was the $55 decrease in intergovernmental revenues, due to the City recognizing a MNDOT grant on a joint project that occurred in the prior year. The increase in the "other" category was primarily due to improved investment earnings in the current year. -8-