Agenda Packets - 2025/05/12 (2) - Laserfiche WebLink

Home Browse Search

-8- GOVERNMENTAL FUNDS 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 three years, together with comparative state-wide averages, are presented in the following table: Year 2022 2023 2024 Population 2,500–10,000 10,000–20,000 20,000–100,000 12,965 13,111 13,111 Current General government 172$ 145$ 126$ 105$ 125$ 126$ Public safety 343 312 347 329 316 342 Streets and highways 163 167 120 59 61 65 Culture and recreation 121 137 117 129 153 159 All other 86 88 92 198 268 197 Total current 885 849 802 820 923 889 Capital outlay and construction 509 446 346 208 224 89 Debt service Principal 163 133 117 30 28 26 Interest and fiscal 43 40 32 12 11 10 Total debt service 206 173 149 42 39 36 Total expenditures 1,600$ 1,468$ 1,297$ 1,070$ 1,186$ 1,014$ December 31, 2022 State-Wide Governmental Funds Expenditures per Capita With State-Wide Averages by Population Class City of Mounds View Total expenditures in the City’s governmental funds for 2024 were $13,302,958, a decrease of $2,243,456 from the prior year. On a per capita basis, the City expended a total of $1,014 in 2024, a decrease of $172 from the previous year. The decrease in current spending in the “all other” category was largely caused by elevated economic development payments made in TIF District No. 5 in the prior year. The amount of street project spending was down significantly compared to the prior year, accounting for the reduction in expenditures for capital outlay and construction.