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05-28-24-R
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05-28-24-R
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GOVERNMENTAL FUNDS REVENUE <br />The following table presents the per capita revenue of the City's governmental funds for the past <br />three years, along with state-wide averages. <br />We have included the most recent comparative state-wide averages available from the Office of the State <br />Auditor to provide a benchmark for interpreting the City's data. The amounts received from the typical <br />major sources of governmental fund revenue will naturally vary between cities based on factors such as a <br />city's stage of development, location, size and density of its population, property values, services it <br />provides, and other attributes. It will also differ from year-to-year, due to the effect of inflation and <br />changes in its operation. Also, certain data in these tables may be classified differently than how they <br />appear in the City's financial statements in order to be more comparable to the state-wide information, <br />particularly in separating capital expenditures from current expenditures. <br />We have designed this section of our management report using per capita data in order to better identify <br />unique or unusual trends and activities of the City. We intend for this type of comparative and trend <br />information to complement, rather than duplicate, information in the MD&A. An inherent difficulty in <br />presenting per capita information is the accuracy of the population count, which for most years is based <br />on estimates. <br />Governmental Funds Revenue per Capita <br />With State -Wide Averages by Population Class <br />State -Wide <br />City <br />of Arden Hills <br />Year <br />December 31, 2021 <br />2021 <br />2022 <br />2023 <br />Population <br />2,500-10,000 <br />10,000-20,000 <br />20,000-100,000 <br />9,897 <br />9,682 <br />9,706 <br />Property taxes <br />$ 560 <br />$ 529 <br />$ 557 <br />$ 433 <br />$ 455 <br />$ 472 <br />Tax increments <br />38 <br />36 <br />49 <br />40 <br />35 <br />4 <br />Franchise and other taxes <br />52 <br />66 <br />53 <br />10 <br />10 <br />9 <br />Special assessments <br />59 <br />41 <br />56 <br />67 <br />45 <br />37 <br />Licenses and permits <br />45 <br />46 <br />53 <br />76 <br />86 <br />49 <br />Intergovernmental revenues <br />421 <br />293 <br />202 <br />51 <br />56 <br />113 <br />Charges for services <br />135 <br />ill <br />110 <br />46 <br />49 <br />35 <br />Other (charges) <br />60 <br />39 <br />26 <br />62 <br />(5) <br />106 <br />Total revenue <br />$ 1,370 <br />$ 1,161 <br />$ 1,106 <br />$ 785 <br />$ 731 <br />$ 825 <br />The City's governmental funds revenue for 2023 was $8,007,697, an increase of $938,272 from the prior <br />year. On a per capita basis, the City received $825 in governmental funds revenue for 2023, an increase of <br />$94 from the prior year. <br />The City's governmental funds have generated significantly less revenue per capita in total than other <br />Minnesota cities in its population class. A city's stage of development, along with the way a city finances <br />various capital projects, will impact the mix of revenue sources it receives. <br />Property taxes increased as anticipated with the change in the adopted levy. A new state public safety <br />grant increased the amount of intergovernmental revenues in the current year. The largest change in the <br />table above was the increase in the "Other" category, which includes investment earnings. Shifts in <br />interest rates between fiscal years has had a significant impact on the fair value on certain investments <br />held by the City. Required fair value adjustments on investments was a significant factor in the increase in <br />investment earnings compared to the prior year. There was less development activity in the current year <br />accounting for the decrease in tax increments, licenses and permits, and charges for services. <br />-7- <br />
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