RubinBrown Public Sector Stats 2014

St. Louis Metropolitan Area

The 2013 results for the St. Louis area reflect a slowing down of the economic recovery as discussed previously. The average increase in net position for St. Louis municipalities was 3.2% in 2013, as compared with 4.7% in 2012 and 8.6% in 2011. Furthermore, 8 of the 41 St. Louis municipalities (19%) reported a decrease in government- wide net position in 2013, as compared with 12% in 2012. The cause of this slow down in the change in net position is evident when revenue per capita and expenses per capita are examined. As indicated in the chart below, revenue per capita for St. Louis municipalities increased from $924 in 2011 to $963 in 2012, and decreased to $928 in 2013. Per capita expenses decreased slightly for St. Louis area municipalities, from $1,164 in 2012 to $1,159 in 2013. This decrease in expenses is responsible for avoiding an even larger decline in the average increase in net position as discussed above. Additionally, St. Louis municipalities have managed to maintain sufficient liquidity to meet their ongoing financial needs. The average liquidity ratio for St. Louis municipalities in 2013 was 4.50, an increase from the 2012 average of 4.10. This certainly is a positive indicator for the region, as it demonstrates that area municipalities are well positioned to withstand short-term cash shortfalls. Indeed, 31 of the 41 participating St. Louis municipalities had a liquidity ratio of 2.0 or greater. Finally, unrestricted fund balances in the general fund remain strong. As a percent of revenue, balances are consistent in 2013 as compared to 2012 at approximately 60%.

Stan Musial Veterans Memorial Bridge in St. Louis, MO Photo by Chris Naffziger, Saint Louis Patina

Tax Revenue Per Capita

Expenses Per Capita

$1,400

$1,400

$1,100 $1,200 $1,300

$1,100 $1,200 $1,300

$1,164

$1,159

$1,130

$1,075

$963

$1,000

$1,000

$928

$924

$895

$853

$600 $700 $800 $900 $500 $400 $300 $200 $100

$600 $700 $800 $900 $500 $400 $300 $200 $100

$722

$0

$0

2009

2010

2011

2012

2013

2009

2010

2011

2012

2013

8 | RubinBrown Public Sector Stats 2014