RubinBrown has released its 10th annual Public Sector Statistical Analysis report, and for the first time surveyed statistical and financial information from 32 municipalities in Tennessee. As this is the first year that Tennessee municipalities were included in the survey, trend information is not available. However, the financial ratios generally demonstrate that many cities have very healthy financial positions and have experienced positive results of operations.
Median change in net position was 8.1% in 2015, which is much higher than the results in the other regions surveyed, including St. Louis, Kansas City and Denver. The survey also shows that the median general fund level of unrestricted fund balance as a percent of expenditures is 37.2%. This is above average and also above what the GFOA recommends at two months’ reserves, or approximately 16.7%, but lower than the other regions. In terms of median dollars per capita, tax revenue was $829, expenses were $1,221 and total debt was $720.
Compared to other regions included in the study, Tennessee municipalities had the lowest median liquidity ratio at 0.92. This is below 1.0, which means many governments might find it difficult to continue to pay off current liabilities as they become due.
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, Tennessee results consist of municipalities throughout the state with the majority of them in middle Tennessee. The average population of the cities included in Tennessee was 53,000. The full report from RubinBrown can be found here.
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