Kansas City area municipalities saw conditions improve significantly in 2014 as compared to 2013 and 2012, according to RubinBrown’s 2015 Public Sector Statistical Analysis. The report includes and segregates data from the Kansas City, Denver and St. Louis municipalities, representing financial information from the 2014 fiscal year. The statistical analysis focuses on municipalities with populations greater than 5,000. Additionally, the cities of Kansas City, Denver and St. Louis are excluded from the study due to their size relative to the other municipalities. Each region’s results are presented individually. (A list of the participating municipalities can be found within the report).
“The Kansas City region municipalities experienced a healthy and much stronger year in 2014 than they have the past few, resulting in an increase of 2.8 percent in the average change in net position in 2014 as compared to 1.3% in 2013. This is indicating the region’s financial condition has improved overall,” said Kaleb Lilly, CPA, partner in RubinBrown’s Public Sector Services Group. “Noteworthy is the tax revenue per capita for Kansas City municipalities on average increased almost 5 percent during the past year, from $818 in 2013 to $858 in 2014. On top of this increase in revenues, expenses per capita increased only 2 percent on average. After years of decreases in revenue, this is a promising indicator of continued recovery and growth.”
“Another important factor of improving conditions is the region’s general fund unrestricted fund balance as a percent of revenues, or the ability to continue operations if revenue is temporarily interrupted or significantly declines. This ratio has continued to fluctuate year over year, but experienced a considerable improvement in 2014 to 35.6 percent from 32.5 percent in 2013,” noted Lilly. “This is demonstrating that area municipalities are well positioned to withstand short-term cash and revenue shortfalls.”
RubinBrown is one of the nation’s largest accounting and business consulting firms, with 500 team members working from offices in Denver, Kansas City, Nashville and St. Louis, including a satellite office in St. Louis’ CORTEX Innovation District. Founded in 1952, the firm’s team members establish best practices within specific industry segments and work to serve the community both inside and outside the workplace. Our mission is to help clients build and protect value, while at all times honoring the responsibility to serve the public interest. RubinBrown is an independent member of Baker Tilly International, a high-quality, dedicated network of 154 independent firms in 133 countries. For more information, visit www.rubinbrown.com.
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