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City of Ramsey
<br />Changes in Fund Balances of Governmental Funds
<br />Last Ten Fiscal Years
<br />(modified accrual basis of accounting)
<br />Fiscal Year
<br />2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
<br />Revenues
<br />Property taxes $9,544,771 $10,175,399 $10,684,896 $11,150,611 $12,416,534 $12,872,234 $13,682,348 $14,846,572 $17,632,758 $19,751,514
<br />Franchise fees - - - - - - 423,045 2,071,476 4,859 -
<br />Special assessments 326,465 468,844 444,235 959,217 559,599 1,025,527 484,810 766,131 104,223 562,227
<br />Licenses and permits 458,532 784,954 526,008 732,129 1,031,944 901,222 850,504 917,645 843,010 1,058,097
<br />Intergovernmental revenue 2,615,851 2,052,791 1,795,988 2,213,034 2,947,966 1,518,639 5,793,188 1,610,478 6,223,407 5,526,102
<br />Charges for services 966,951 1,779,697 1,298,085 1,469,703 2,355,969 1,892,517 1,246,378 2,038,120 1,852,610 1,301,177
<br />Contributions - - - - - - - - - 779,800
<br />Fines and forfeits 72,216 60,236 66,410 59,701 46,651 49,479 34,735 51,153 45,717 39,681
<br />Investment earnings (charges)965,382 416,508 276,142 447,200 570,243 1,104,969 1,020,655 (161,690) (282,114) 2,542,431
<br />Other 596,208 10,679,794 773,836 707,675 765,601 1,036,319 842,747 1,064,495 1,490,779 813,340
<br />Total Revenues 15,546,376 26,418,223 15,865,600 17,739,270 20,694,507 20,400,906 24,378,410 23,204,380 27,915,249 32,374,369
<br />Expenditures
<br />General government 3,175,959 3,119,273 3,537,925 4,031,933 4,212,365 4,358,408 4,849,293 3,941,404 4,047,511 4,455,734
<br />Public safety 3,809,209 4,011,871 4,234,482 4,727,493 4,788,902 5,360,402 5,967,770 6,415,511 6,829,377 7,412,982
<br />Highways and streets 2,930,144 1,815,409 2,199,615 2,542,463 2,390,707 2,528,216 2,068,827 2,164,326 2,497,987 5,552,834
<br />Culture and recreation 1,004,750 1,428,116 1,478,090 1,960,624 1,291,816 1,281,153 1,476,727 1,417,251 1,467,113 1,679,826
<br />Economic development - - - - - - 481,858 2,140,267 1,096,422 1,705,446
<br />Capital outlay 3,688,952 6,314,573 2,756,193 1,922,947 3,568,285 1,505,922 7,406,231 16,026,400 6,857,075 13,278,567
<br />Debt service
<br />Principal 1,580,000 8,780,000 1,735,000 2,085,000 2,100,000 2,280,000 4,045,000 1,930,000 1,915,000 2,495,000
<br />Interest 1,179,859 1,103,614 965,474 967,281 923,125 854,188 873,623 851,152 640,244 1,249,179
<br />Total Expenditures 17,368,873 26,572,856 16,906,779 18,237,741 19,275,200 18,168,289 27,169,329 34,886,311 25,350,729 37,829,568
<br />Excess (deficiency) of revenues
<br />over expenditures (1,822,497) (154,633) (1,041,179) (498,471) 1,419,307 2,232,617 (2,790,919) (11,681,931) 2,564,520 (5,455,199)
<br />Other financing sources (uses)
<br />Debt issued 875,000 5,085,000 1,650,000 895,000 1,175,000 – 9,055,000 – 10,765,000 8,315,000
<br />Refunding debt issued – – – – – – – 9,845,000 – –
<br />Payments on refunded debt (2,895,000) – – – – – – (10,510,000) – –
<br />Premium on debt issues – 111,606 69,482 5,590 35,246 – 4,068 809,201 1,240,343 314,131
<br />Proceeds on sale of capital assets – 8,914 – 5,530 75,047 8,428 2,372 46,443 46,443 20,000
<br />Transfers in 2,329,539 3,642,196 2,183,931 1,536,025 1,447,137 1,714,327 11,238,331 2,049,840 2,049,840 2,028,162
<br />Transfers (out)(2,210,039) (3,518,196) (1,418,350) (1,403,025) (1,287,049) (2,220,821) (5,008,632) (1,628,914) (1,628,914) (1,953,738)
<br />Total other financing sources (uses)(1,900,500) 5,329,520 2,485,063 1,039,120 1,445,381 (498,066) 15,291,139 611,570 12,472,712 8,723,555
<br />Net change in fund balances $(3,722,997) $5,174,887 $1,443,884 $540,649 $2,864,688 $1,734,551 $12,500,220 $(11,070,361) $15,037,232 $3,268,356
<br />Debt service as a percentage of
<br />noncapital expenditures 20.17%48.79%19.08%18.71%19.25%18.81%24.89%14.75%13.82%15.25%
<br />142
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