Agenda - Council - 06/10/2025 - Laserfiche WebLink

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GOVERNMENTAL FUND EXPENDITURES The expenditures of governmental funds will also vary from state-wide averages and from year-to-year, based on the City's circumstances. Expenditures are classified into three types as follows: • Current — These are typically the general operating type expenditures occurring on an annual basis, and are primarily funded by general sources, such as taxes and intergovernmental revenues. • Capital Outlay and Construction — These expenditures do not occur on a consistent basis, more typically fluctuating significantly from year-to-year. Many of these expenditures are project -oriented and are often funded by specific sources that have benefited from the expenditure, such as special assessment improvement projects. • Debt Service — Although the expenditures for debt service may be relatively consistent over the term of the respective debt, the funding source is the important factor. Some debt may be repaid through specific sources, such as special assessments or redevelopment funding, while other debt may be repaid with general property taxes. The City's expenditures per capita of its governmental funds for the past four years, together with comparative state-wide averages, are presented in the following table: Governmental Funds Expenditures per Capita With State -Wide Averages State -Wide City of Ramsey Year 2021 2022 2021 2022 2023 2024 Population 20,000-100,000 20,000-100,000 27,946 28,520 28,712 28,850 Current General government $ 116 $ 126 $ 141 $ 142 $ 155 $ 169 Public safety 327 347 230 239 258 283 Public works 112 120 77 88 193 141 Recreation 107 117 51 51 59 65 All other 77 92 77 38 59 52 739 802 576 558 724 710 Capital outlay and construction 317 346 573 240 462 550 Debt service Principal 110 117 69 67 87 102 Interest and fiscal 34 32 30 22 44 58 Total expenditures 144 149 99 89 131 160 $ 1,200 $ 1,297 $1,248 $ 887 $1,317 $1,420 Total expenditures in the City's governmental funds for 2024 were $40,956,684, an increase of $3,127,116 (8.3 percent) over the prior year. On a per capita basis, the City expended a total of $1,420 in 2024, an increase of $103 over the previous year. Current spending was down with less expenditures in public works for street maintenance and repairs. Capital outlay reported the largest change in comparison to the prior year. Capital spending was up in the current year for street reconstruction projects, equipment purchases, and improvements completed in the City's Center of Ramsey (COR) development. Debt service was up $29 per capita as anticipated with approved debt financing plans. -8-