RubinBrown Public Sector Stats 2011

Net Assets/Fund Equity

The average per capita tax revenue for the Denver cities surveyed in 2010 was $716 and average expenses per capita were $1,010. These results are comparable to those noted for the St. Louis and Kansas City areas, and illustrate the gap between tax revenues and expenses for which municipal governments are forced to find additional sources of funding. The results for the Front Range area did indicate a lower degree of capital activity, and consequently a lower debt burden, than that observed for the St. Louis and Kansas City regions. Capital outlay as a percentage of total expenses for Denver municipalities was a relatively low 11.5% in 2010. Long-term debt to assets was also relatively low at .11 times. Another interesting statistic is the fact that accumulated depreciation as a percent of depreciable capital assets amounted to 33.6% in 2010. This is an indication that assets are newer and shows more recent investment made by the local governments. Long-term debt per capita for the Denver region amounted to $610, a significant amount less than the $1,070 noted for St. Louis and the $1,262 noted for Kansas City. In addition debt service expenditures as a percent of total revenues were also a very low 7.9% in 2010. Finally, the survey results did indicate that Front Range municipalities have maintained adequate liquidity in order to meet their immediate obligations. The liquidity ratio for the Denver region was 1.96 in 2010. Eleven of the 22 participating municipalities reported a liquidity ratio of 2.0 or greater, and only four reported a liquidity ratio of less than 1.0.

60%

40%

42.8%

20%

22.6%

2.3%

0

Average increase in net assets

Average unrestricted net assets as a percent of revenues

Average unreserved fund balance as a percent of revenues - general fund

Per Capita Tax Revenue & Expenses

$1200

$1000

$1,010

$800

$600

$716

$400

$200

0

Average per capita tax revenue

Average expenses per capita

Average Long-Term Debt Per Capita

1000 1200 1400 $1 0 $12 0 $14 0

$1,262

$1,070

0 200 400 600 800 $400 $200 0 $6 0 $8 0

$610

St. Louis St. L is

Kansas City a sas ity

Denver v r

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