Agenda - Council Work Session - 06/08/2021

Home

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 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 2018 2019 2018 2019 2020 Population 20,000-100,000 20,000-100,000 26,462 27,051 27,263 Property taxes $ 493 $ 512 $ 432 $ 436 $ 457 Tax increments 43 44 37 40 45 Franchise fees 50 50 16 Special assessments 57 53 21 38 18 Licenses and permits 47 51 39 33 31 Intergovernmental revenues 157 201 111 56 212 Charges for services 112 115 89 70 46 Other 49 79 52 81 70 Total revenue $ 1,008 $ 1,105 $ 781 $ 754 $ 895 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 2020 were $24,378,410, an increase of $3,977,504 from the prior year. On a per capita basis, the City received $895 in governmental fund revenue for 2020, an increase of $141 from the prior year. The largest change was the $156 per capita increase in intergovernmental revenues, due to the City receiving a $2,038,029 federal Coronavirus Relief Fund (CRF) grant entitlement in 2020 to provide assistance to the community and fund unanticipated COVID-19-related expenses. An increase in the approved property tax levy and the City's implementation of franchise fees for the pavement management program, also contributed to the increase in total revenues per capita in the current year. -9-