RubinBrown Public Sector Stats 2011

Expenses Per Capita

$1050

The results for the Kansas City area do reflect a decrease in capital outlay expenditures over the past three years, likely in an effort to control expenditures during difficult economic times. Capital outlay as a percentage of total expenditures decreased from 30.0% in 2008, to 27.2% in 2009, to 22.6% in 2010. However, as illustrated in the chart above, average debt per capita for the Kansas City municipalities has steadily increased: from $1,129 in 2008, to $1,189 in 2009, to $1,262 in 2010. To the extent these municipalities have issued debt to fund capital projects, this may signal an increase in capital outlay expenditures in future years. Finally, while the Kansas City municipalities have not maintained the same degree of liquidity as the St. Louis municipalities, that liquidity has improved in 2010. The average liquidity ratio for Kansas City municipalities increased from 1.17 in 2009 to 1.33 in 2010. Furthermore, seven of the 24 Kansas City municipalities reported a liquidity ratio of 2.0 or greater, and 17 reported a liquidity ratio of 1.0 or greater.

$1080

$1,002

$999

$966

$982

$924

$929

$882

$840

2007

2008

2009

2010

Average Debt Per Capita

$1,262

$1300

$1,189

$1,129

$1,095

$1140

$980

$820

$660

$500

2007

2008

2009

2010

Denver Front Range As this is the first year in which RubinBrown has included Denver Front Range municipalities in our survey, prior year comparative data is not available. The 2010 results for the Front Range area also indicates that area municipalities are experiencing the consequences of the poor economy, although perhaps not as acutely as municipalities in the St. Louis and Kansas City areas. The average increase in net assets for Denver municipalities in 2010 was 2.3%. Of the 22 Denver municipalities surveyed, only two (or 9%) reported a decrease in net assets in 2010. All 22 municipalities reported positive unrestricted net assets. Another impressive statistic showing the financial health of these cities is the high 42.8% average unrestricted net assets as a percent of revenues. This shows adequate resources have been accumulated to ride out any temporary declines in revenues.

5 | Raise Your Expectations