Agenda - Council Work Session - 06/27/2023

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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 OSA 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 2020 2021 2020 2021 2022 Population 20,000-100,000 20,000-100,000 27,263 27,946 28,520 Property taxes $ 537 $ 557 $ 457 $ 468 $ 549 Tax increments 44 49 45 63 70 Franchise fees 46 53 16 74 Special assessments 54 56 18 27 4 Licenses and permits 46 53 31 33 30 Intergovernmental revenues 273 202 212 58 218 Charges for services 91 110 46 73 65 Other 69 26 70 34 44 Total revenue $ 1,160 $ 1,106 $ 895 $ 830 $ 980 The City's governmental fund revenues for 2022 were $27,915,249, an increase of $4,710,869 (20.3 percent) from the prior year. On a per capita basis, the City received $980 in governmental fund revenue for 2022, an increase of $150 from the prior year. 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. Some of the larger changes were in property taxes, intergovernmental revenues, and franchise fees. Property taxes were up $81 per capita, while franchise fees were down $74 per capita as previously discussed with the change from a franchise fee to a tax levy to finance the City's Pavement Management Program. The levy also increased for inflationary growth and increased demand for city services as the City has continued to develop. Intergovernmental revenues were up $160 per capita. The City recognized revenue of $2.8 million from Coronavirus State and Local Fiscal Recovery Funds (CSLFRF), as well as an increase in state municipal maintenance and construction funds in the current year. -9-