New report examines finances of Minnesota towns

State Auditor Rebecca Otto released the Minnesota Town Finances Report this week, a comprehensive report on revenues, expenditures and debt. The report analyzes town financial operations for the calendar year ended December 31, 2010.

In 2010, there were 1,785 towns in Minnesota, compared to 854 cities

and 87 counties. Population estimates from the State Demographer for

2010 show that 925,784 individuals reside in Minnesota's towns,

representing 17.5 percent of the state's population. Town populations

range from 10,949 in the Town of White Bear (Ramsey County) to 5 in the

Town of Hangaard (Clearwater County). Fifty two percent of towns have a

population of 300 or less.

Highlights from the report include:

Current and long-term trends

-- In 2010, Minnesota towns reported total revenues of $261.2 million.

This amount represents a 0.8 percent decrease from the total revenues

reported in 2009.

-- Minnesota towns reported total expenditures of $265.0 million in

2010. This amount represents an increase of 2.1 percent over the amount

reported in 2009.

-- Towns had debt service expenditures of $15.0 million in 2010. This

amount represents a 3.4 percent increase in debt service expenditures

from 2009 to 2010.

-- Since 2001, the share of total revenues derived from taxes has

increased from 50.6 percent in 2001 to 72.8 percent in 2010. In

contrast, the share of total revenues derived from intergovernmental

sources has decreased from 35.1 percent in 2001 to 17.0 percent in

2010.

-- In constant dollars, town total revenues decreased 7.7 percent

between 2001 and 2010.

-- In constant dollars, town total expenditures decreased 5.0 percent

between 2001 and 2010.

For the complete report, which includes an Executive Summary, graphs

and tables, go to:

http://www.auditor.state.mn.us/Reports/gid/2010/tnFinances/tnFinances10report.pdf.

Tags: minnesota news, news, updates, auditor