Popular Annual Financial Report 2022
At Ramsey County, it’s our goal to make our financial information easily accessible to residents, businesses and others in our community. Our Popular Annual Financial Report is part of our ongoing commitment to transparency and sharing how we have used and invested public dollars.
The report follows guidelines developed by the Government Finance Officers Association and is a complement to the more extensive Annual Comprehensive Financial Report. We look forward to your feedback so we can continue to make the content easier to access and understand. Thank you for your interest in Ramsey County.
Explore the report
About Ramsey County
More than 550,000 Minnesotans make their homes in Ramsey County. Located in the heart of the seven-county Twin Cities metropolitan area, it is the second-most populous county in Minnesota with about 10% of the state’s residents. Learn more about Ramsey County or check out our community profile.
The Ramsey County Board of Commissioners establishes county policies and provides oversight of its budget and operations. To learn more about our organization, view our organizational structure, strategic priorities and vision, mission and goals.
Service & Program Highlights
Ramsey County's Service Teams used county funds to serve residents, businesses and visitors in our community in 2022. See below to learn more about how different county departments worked to achieve our vision of a vibrant community where all are valued and thrive.
Economic Growth and Community Investment
Includes the departments of Community & Economic Development, Housing Stability, Library, Parks & Recreation, Property Management, Public Works and Workforce Solutions.
Highlights
- Community & Economic Development helped build much-needed affordable housing infrastructure and expand homebuyer assistance.
- The Library system eliminated adult late fees and partnered with the correctional facility.
- Housing Stability opened three new overnight winter warming spaces for our most vulnerable residents.
- Public Works completed $52 million in roadway, bridge, trail and sidewalk construction projects.
- Workforce Solutions launched Right Track Plus, Early Childhood Academy and Driver’s License Academy.
Health and Wellness
Includes the departments of Community Corrections, Financial Assistance Services, Public Health, Social Services and Veterans Services.
Highlights
- We worked to address rising rates of food insecurity.
- Public Health vaccinated tens of thousands of people at hundreds of clinics.
- Social Services held its first in-person National Adoption Day event in three years.
- Community Corrections continued its work on the Reducing Revocations Challenge and the Appropriate Responses Initiative.
- Veterans Services ensured the service of all veterans is seen and matters through work on the PACT Act and Operation Green Light.
Information and Public Records
Includes the departments of Communications & Public Relations, County Assessor, Information Services, and Property Tax, Records & Election Services.
Highlights
- We ensured residents receive accurate and timely calculation, billing, settlement and reporting of property taxes.
- Elections successfully administered the 2022 midterm elections.
- We published the 2022 Assessor’s Report via Open Ramsey County.
- Information Services enabled 17 remodel projects (including new and relocated Service Centers for residents) with network, infrastructure and technology.
- We continued a resident-centric service delivery model centered around Residents First at Service Center locations.
Safety and Justice
The County Attorney's Office, Sheriff's Office and departments of Emergency Communications, Emergency Management & Homeland Security and Medical Examiner comprise the Safety and Justice Service Team.
Highlights
- Emergency Management & Homeland Security began crafting a new emergency plan.
- We launched the Appropriate Responses Initiative to enhance 911 responses in Ramsey County.
- The Medical Examiner’s Office was able to identify the remains of two women from Saint Paul discovered in 1976 and 1977.
- Sheriff's Deputies took more than 100 illegally-possessed firearms off the streets—all of which were directly tied to crimes.
- The County Attorney’s Office launched data dashboards to help our community better understand the work we do in the legal system.
Strategic Team
The County Manager’s Office, Chief Clerk, Compliance & Ethics Office, Finance, Human Resources and Policy & Planning departments comprise the Strategic Team.
Highlights
- A new Labor Relations contract resulted in Juneteenth being added as a county holiday.
- Finance played a key role in maintaining the highest bond ratings from both Moody’s and Standard & Poor’s.
- We hosted a public hearing on the 2022-23 county budget providing options for residents to offer public comments and connect with appraisers in-person or virtually.
- Transforming Systems Together invited community members to apply for new grants.
- To promote increased opportunities for collaboration and alignment between our lobbying and policy efforts, Government Relations moved into the Policy & Planning division of the County Manager’s Office.
Financial Information
at a Glance
Information on funding sources, revenues, expenditure trends and financial statements.
County Revenues and Expenses 2022
Total governmental revenues $1,014,915,111
Total governmental expenditures $1,009,118,662
Revenue trends
Property taxes are the primary funding source for the county’s budget, typically providing about half of the county’s revenue. Taxes are determined based on property value and the levies of all jurisdictions where a property is located.
Expenditure trends
Total expenditures increased by $18,712,792 or less than 2% compared to 2021. Total expenditures have increased 53.48% over the past five years.
Net bonded debt per capita
The county board refinanced existing debt to take advantage of historically low interest rates. This has resulted in manageable debt levels for the county despite an active capital improvement program to replace and rehabilitate aging facilities and public infrastructure. Debt ratios have remained in the low to moderate benchmark set by the credit rating agencies for AAA counties.
Statement of Net Position
The Statement of Net Position presents financial information on all of the county's capital and current assets, minus the current liabilities and long-term debt. The resulting amount is stated as "net position."
Assets and liabilities
Total assets increased 29.8% over the past five years, primarily due to the increase in current assets. Total liabilities increased 24.5% over the past five years, due largely to change in disclosure policies related to pension liabilities and other post-employment benefits.
Net position may be restated year to year due to the required implementation of Governmental Accounting Standards Board standards. For more information, please see the 2022 Annual Comprehensive Financial Report.
Statement of Activities
The county’s total revenue has grown by 35.4% in the last five years. Program expenses have increased 50.3% from 2018 to 2022, averaging an annual increase of 10.% overall. The big jump in
revenue and expenses is due to the implementation of GASB 84, the CARES and
ARPA funding and associated expenses to respond to the COVID-19 pandemic. Program expenses differ from the expenditures listed in the governmental funds due to the unique nature of special service funds, such as debt service and capital projects, which are listed in the governmental fund expenditures and not in the statement of activities.
Net position may be restated year to year due to the required implementation of Governmental Accounting Standards Board standards. For more information, please see the 2022 Annual Comprehensive Financial Report.
Debt Management
Ramsey County has maintained the highest possible bond rating from both Standard and Poor's and Moody's since 2001. This has reduced interest costs on bonds sold to finance the county's capital projects.
Capital Assets
Capital assets include the county's land, building, equipment, improvements, infrastructure and construction in process, net of accumulated depreciation. Capital assets increased 0.4% over the past five years, with buildings and improvements and infrastructure being the key drivers of the increase.
During 2022, Ramsey County adopted new guidance
by implementing the provisions of the Government Accounting Standards Board
(GASB) Statement 87. GASB Statement No. 87, Leases, which requires the
reporting of certain lease assets and liabilities as either lessors or lessees.
With this change the leases are reflected within the governmental activities,
general fund, internal service funds, and the special revenue funds.
A strong financial position for 2022
By taking advantage of historically low interest rates and maintaining the highest possible bond ratings, we've been able to invest in programs that benefit residents, businesses and visitors and remain in a strong financial position.
Glossary
- Assets: What the county owns, including current and other cash, investments and receivables.
- Buildings and improvements: Includes all buildings owned by the county, as well as cost of improvements to existing buildings.
- Capital assets: The county's land, building, equipment, improvements, infrastructure and construction in process, net of accumulated depreciation.
- Construction in progress: Capital cost of projects still under construction.
- Equipment: Includes service vehicles, etc.
- Fees and charges: Amounts paid for services provided by the county that are paid by the user (including residents, businesses and other government entities) of those services.
- Fund: A group of related accounts used to maintain control over resources that have been segregated for specific activities or objectives.
- Fund balance: The excess of the assets of a fund over liabilities and reserves.
- General obligation debt: Municipal debt that is secured by Ramsey County's pledge to use legally available resources, such as tax revenue, to repay bond holders. Debt is issued to provide funds for certain capital improvement projects and other major purchases.
- General revenues: Funds that the county received as income. Includes such items as property taxes, fees for services, intergovernmental revenues, fines, forfeitures, grants, revenue from sales and rentals and interest income.
- Infrastructure: Includes roads, bridges, sidewalks and similar items.
- Intergovernmental: Funding from federal, state, city and other government jurisdictions.
- Improvements other than buildings: Includes golf courses, leasehold improvements and landscaping and trails.
- Liabilities: What the county owes, including payments due to vendors or employees.
- Miscellaneous: Investment earnings and gain on disposition of fixed assets.
- Net investment in capital assets: Represents the county's investment in its capital assets less accumulated depreciation and any outstanding debt attributable to the acquisition, construction or improvement of these assets.
- Net position: The difference between assets and liabilities, of which may or may not be available for future spending.
- Program revenues: Revenues that are earned as a direct result of a given function. Program revenues are offset by program expenses.
- Unrestricted net position: Represents the difference between assets and liabilities not restricted for use.
In addition to this annual snapshot, operating and capital budget and expenditure data are available on Open Ramsey County or visit Budget and Finance for more information and past financial reports.