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City of Elk River <br />Financial Analysis <br />Governmental Activities <br />The tables below and on the following page illustrate the City's various sources of revenue and <br />expenditures per capita over a two-year period in comparison to 2021 data for Minnesota cities ranked <br />by various sizes. <br />... <br />nmental Funds Revenue erCapita <br />with State -Wide Averages by Population Class <br />State -Wide* <br />City <br />of Elk Ri** <br />Year <br />December 31, 2021 <br />2020 <br />2021 <br />2022 <br />Population 2,500-10,000 <br />10,000-20,000 <br />20,000-100,000 <br />25,590 <br />25,835 <br />26,406 <br />operty taxes $ <br />560 <br />$ 529 <br />$ 557 $ <br />536 <br />$ 540 $ <br />555 <br />Tax increments <br />38 <br />36 <br />49 <br />10 <br />13 <br />13 <br />ranchise fees and other taxes <br />52 <br />66 <br />54 <br />185 <br />202 <br />211 <br />Special assessments <br />59 <br />41 <br />56 <br />5 <br />13 <br />9 <br />Licenses and permits <br />45 <br />46 <br />53 <br />26 <br />39 <br />36 <br />Intergovernmental revenues <br />421 <br />293 <br />202 <br />151 <br />314 <br />97 <br />Charges for services <br />136 <br />111 <br />108 <br />58 <br />100 <br />117 <br />Other <br />60 <br />40 <br />27 <br />166 <br />126 <br />49 <br />Total revenue $�1,371 <br />$ 1,162 <br />$ 1,106 $ <br />1,137 <br />$ 1,347 $ <br />1,087 <br />* State-wide data obtained from the Office of the State Auditor's 2021 Minnesota City Finances <br />Report. Comparative data for 2022 is not yet available. <br />** Population range was estimated based on latest available data. <br />The City traditionally receives sizeable tax revenue, including sales tax, and thus has consistently shown <br />higher tax revenues per capita compared to the state averages. The City received significant funding <br />through the Municipal State Aid Street program in 2021, which contributed to the decrease in <br />intergovernmental revenue per capita for the current year. <br />21 <br />