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07-27-2010 Council Work Session Packet
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07-27-2010 Council Work Session Packet
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KeyFindings <br /> �rom�he�roje�tian <br /> • Projecting city revenue <br /> andexpendituretrends Cities of all t es <br /> into the future reveals yp <br /> thatalltypesof will b� in the red by 2015 <br /> Minnesota cities— <br /> cities of every size, in <br /> every region—will be <br /> broke by the year 2015 <br /> if no policy changes are All types of cities in all regions of the state will be The chart below shows when different kinds <br /> made. And in many unable to pay the bills within the next five years of cities will be in a deficit if revenue and expendi- <br /> kinds of communities, if they continue on their current financial path. ture trends continue without intervening policy <br /> this is a reality today as Looking out as far as 2025 reveals that cities changes and what portion of city revenues <br /> revenues fall short of overall would still be in the red if policy changes those deficits will represent. <br /> are not enacted. The fact is that this projection of the future <br /> what cities need to Put another way,by the time babies born this cannot be allowed to happen in real life. <br /> provide services. year are in first grade cities of all population and By law,cities must balance their budgets. <br /> tax base sizes,in all parts of the state,would be City officials will therefore have no choice but <br /> • Cities overall would see in the red if historical revenue and expenditure to enact more of the painful decisions they <br /> a deficit of 35 percent trends continue. are already making today—primarily,cutting <br /> of city revenues by The League of Minnesota Cities contracted services and raising property taxes—to avoid <br /> the yedr 2025. with researchers at the Hubert H.Humphrey this massive deficit.And unlike the state or <br /> Institute of Public Affairs at the University of federal government,cities do not have another <br /> • For this projection Minnesota to carry out an analysis of city level of government to shift the problem to— <br /> of the future to be budgets.This analysis is a foundational piece of their options for resolving a deficit of this <br /> avoided,fundamental the new effort titled:"Cities,Services&Funding: magnitude are much more limited and will <br /> BroaderThinking,Better Solutions"—an initiative affect local residents and businesses directly. <br /> changes are needed currently underway by the League to spur public <br /> in the way that city dialogue about the future among the city com- <br /> services are funded. mur,�ty,the public,the media,and policymakers. <br /> All types of Minnesota cities in deficit by 2015 (surplus/deficitaspercentoftotalrevenue) <br /> � 2010 2015 � 2025 <br /> Greater Greater <br /> Greater Minnesota City; Minnesota City; <br /> Minnesota Minnesota; Less than Greater than Exurban Metro Metro Slow Metro Fast <br /> Average City Regional Center 1,000 people 2,500 people Fringe City Central City Growth City Growth City <br /> 5°k <br /> 0% <br /> Y. <br /> -5% , ,: 1�,. .. <br /> ,�t��: ��,. . , <br /> �*�`?'�; ."a-`:. <br /> -��% <br /> -�5% ��`.�'•,:� . <br /> -ZD% ,.,�:�,_��: <br /> -25% <br /> -30% <br /> -35% <br /> -40% .,,;:_.�.._... . ...:,_.w _ .::_ v� _ <br /> _45�/u °t��'� �`. <br /> � <br /> a ,�;�''�""�t'�`, �"�,F�i���� ''�a tt� � s�;r` � N ;.^�" _ <br /> -50% ��.`�'`c� sh�s��°� ���� <br /> .,a���'"�, ;S.,•„� ��"�`p � <br /> -55% <br />
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