RubinBrown has released its 10th annual Public Sector Statistical Analysis report, which surveyed statistical and financial information from 24 municipalities in the Kansas City metropolitan area. The city of Kansas City is excluded from the study, due to its size relative to the other municipalities. The results showed a slight increase from the prior year in the median increase in net position for Kansas City municipalities at 2.5% in 2015. This was largely caused by increases in revenue of almost 3.8% with the majority of that in grants, contributions and other intergovernmental revenues, as opposed to taxes.
Tax revenue for Kansas City municipalities increased in 2015 by 2.2%. However, the mix of that revenue increase was concentrated in the larger cities, thereby causing the median tax revenue per capita to actually decrease in 2015 to $647. Meanwhile, median expenses per capita for Kansas City municipalities barely increased on a per capita basis to $1,020.
Long-term debt per capita in the Kansas City region (which excludes pension or other non-bonded debt) decreased in 2015, but still remains fairly high at $1,078 compared to other regions. Additionally, the general fund unrestricted fund balance as compared to operating expenditures has fluctuated significantly over the past five years, but remains at a very healthy level just above 40%.
Compared to other regions included in the study such as St. Louis and Denver, Kansas City had the second highest general fund unrestricted fund balance as a percent of expenditures but had the lowest median change in net position. Reliance on external revenue sources was low compared to the other cities, however Kansas City had the highest median debt to assets leverage ratio (risk for defaulting on debt).
This analysis was created in order to provide a comprehensive report of key government-wide, governmental and general fund financial statistics for the regions RubinBrown serves so that cities may compare how they are doing relative to the municipal governments in their region and identify trends occurring in their communities. All cities included in the data have populations greater than 5,000. For purposes of this study, metropolitan Kansas City includes municipalities in both Missouri and Kansas. The average population of the cities included in the Kansas City region was 47,000. The full report from RubinBrown can be found here.
RubinBrown is one of the nation’s largest accounting and business consulting firms, with over 500 team members working from offices in Denver, Kansas City, Nashville and St. Louis, including an office in St. Louis’ CORTEX Innovation District. Founded in 1952, the firm’s 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 165 independent firms in 141 countries. For more information, visit www.rubinbrown.com.
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