11-10-1986 Council Packet - Laserfiche WebLink

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�01 0# STATE. OF MINNESOTA OFFICE OF THE STATE AUDITOR I� L' I T L 400 OCI n 1� 555 PARK STRFI.T ' ,I SAINT PAl1I 55103 L i ARSE H. CARISUN 96 2551 Simi At DITOR FOR FURTHER INFORMATION October 20, 1986 C- Connie Waterous FOR IMMEDIATE RELEASE 612/297-3681 STATE AUDITOR r .NE CARLSON SAYS METRO CITIES IN STRONG FINANCIAL POSITION State Auditor Arne Carlson said today that municipalities i the Twin Cities metropoli*:-n area are generally in a strong finr cial position, whether their growth is rapid or slow. "The 88 metro cities that we surveyed brok, ' wn into two basic groups --the growing subu-.bs and the mature suburbs,' Carlson stated. "The growing suburbs are taking on debt, but the debt will likely be repaid from growth in the tax base. The mature suburbs are holding the lire on debt_ while stir orting broad programs and services." One of the most positive findings in the survey of ciL financial _rofiles was that general fund balances were increasing, Carlson sai•9. "A healthy fund balance assures cash flow for normal operations, while prc M ing a city in the event of a financial emergency," Carlsor: :omc. =d. The moat noticeable trend it the survey, cco:": ng to Carlson, was the increasing reliance of growing communities, on special assessments. "In 1085," he not i _leven suburbs nad special assessment debt in excess of $1,000 per capita." Carlson said that 24 metr- area cities derived more than one-fourth of I.r revenue from special asse smen .. ^ities with the heaviest reliance on special assessments in 7_985 were: City of Revenue Oakdale 55.6 And-ver 5 5 hamriin 4 Maple Crove 42.E Eagan 40.5 Hugo 39.5 Inver Grove 4Piphts 33.2 tioc .'bury 33.0 Hv:nsvi?:e 32.9 Apple Valley 32.0 - 1 - AN EQUAL OPPORTUNITY cMPL(,VER �11111hp- A