Agenda - Council - 06/14/2022 - 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 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 State-Wide City of Ramsey Year 2019 2020 2019 2020 2021 Population 201000-10000 201000-1001000 27,051 27,263 27,946 Property taxes $ 512 $ 537 $ 436 $ 457 $ 468 Tax increments 44 44 40 45 63 Franchise fees 50 46 — 16 74 Special assessments 53 54 38 18 27 Licenses and permits 51 46 33 31 33 Intergovernmental revenues 201 273 56 212 58 Charges for services 115 91 70 46 73 Other 79 69 81 70 34 Total revenue $ 1,105 $ 1,160 $ 754 $ 895 $ 830 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 2021 were $23,204,380, a decrease of$1,174,030 from the prior year. On a per capita basis, the City received $83 0 in governmental fund revenue for 2021, a decrease of $65 from the prior year. The largest change was the $154 per capita decrease in intergovernmental revenues, due to the City receiving a $2,03 8,029 federal Coronavirus Relief Fund(CRF) grant entitlement in 2020 to provide assistance to the community and fund unanticipated COVID-19-related expenses. Other sources were down within the current year, largely due to reduced investment returns and market changes in the current year. Remaining categories were generally up from the prior year,with ongoing development activities and increasing property values in the current year. -7-