There were 1,142 press releases posted in the last 24 hours and 220,378 in the last 365 days.

State Auditor Julie Blaha Releases Annual Financial Report on Minnesota Cities - February 26, 2021

Office of the State Auditor logo

For Immediate Release February 26, 2021

Contact: Donald McFarland Phone: 651-236-0494

Saint Paul, MN – Earlier today, State Auditor Julie Blaha released the 2019 Minnesota City Finances Report. The Report was compiled from 2019 city reporting forms, financial statements, and audits. The Report summarizes the current and long-term trends for city revenues, expenditures, and debt.

“The 2019 report is a key source for exploring the financial trends in cities prior to the COVID-19 crisis,” said State Auditor Julie Blaha. “While the strain on city finances caused by the COVID-19 pandemic remains on-going, this report shows robust growth for cities in both revenues and expenditures in the year prior.”

The 2019 Minnesota City Finances Report shows revenues increased by 6.7 percent and expenditures increased 7.2 percent. Among revenues, investment earnings had the highest percentage increase year over year while intergovernmental revenues showed the largest dollar increase. For expenditures, streets and highways showed the largest dollar increase while culture and recreation had the largest percentage increase.

  • Between 2010 and 2019, when adjusted for inflation, expenditures increased 8.5 percent over the ten-year period. Over the same period, actual total city expenditures grew from $5.38 billion to $7.09 billion. This represents an increase of 31.8 percent.
  • Although inflation-adjusted total expenditures increased 8.5 percent over the ten-year period, a comparison of the two five-year periods of 2010 to 2014 and 2015 to 2019 reveals a significant reversal during the most recent period. From 2010 to 2014, inflation-adjusted total expenditures decreased 2.7 percent, while from 2015 to 2019, inflation-adjusted total expenditures increased 8.1 percent.

To view the complete report, which includes an Executive Summary, graphs, and tables, go to: https://www.auditor.state.mn.us/default.aspx?page=20210225.000

xxx

The Office of the State Auditor is the constitutional office that oversees nearly $40 billion in local government finances for Minnesota taxpayers. The Office of the State Auditor helps to ensure financial integrity and accountability in local government financial activities. Julie Blaha is Minnesota’s 19th State Auditor. Follow us on Twitter @MNStateAuditor.