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-7- 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. Year 2022 2023 2024 Population 2,500–10,000 10,000–20,000 20,000–100,000 12,965 13,111 13,111 Property taxes 586$ 549$ 584$ 468$ 494$ 522$ Tax increments 37 38 46 145 136 150 Franchise and other taxes 56 72 58 79 74 60 Special assessments 51 34 50 2 2 2 Licenses and permits 43 47 55 29 20 24 Intergovernmental revenues 400 381 223 203 214 174 Charges for services 154 116 137 37 59 58 Other 32 7 (21) 17 104 121 Total revenue 1,359$ 1,244$ 1,132$ 980$ 1,103$ 1,111$ December 31, 2022 State-Wide Governmental Funds Revenue per Capita With State-Wide Averages by Population Class City of Mounds View The City’s governmental funds revenue for 2024 was $14,564,163, an increase of $115,442 from the prior year. On a per capita basis, the City received $1,111 in governmental funds revenue for 2024, an increase of $8 from the prior year. The City has historically generated much higher tax increment revenue than average because of the amount of redevelopment within the City. Property taxes increased as anticipated with the change in the adopted levy. The increase in tax increments from growth in property valuations was offset by an equal reduction in franchise and other taxes. Intergovernmental revenues are down compared to the prior year, due to the end of certain pandemic-related appropriations. The increase in other sources was largely from the fees generated from a new conduit debt issue approved in the current year.