****PLS NEW ANS
The MD&A for the 2016 City and County of Denver CAFR is included as Appendix B in this chapter. Following are two tables that have been adapted from the statistical section of the CAFR. Use the MD&A and the provided statistical tables to complete this case.
Required
a. What are the three largest sources of governmental funds revenue? What percentage of the governmental funds revenue is from each of these sources?
b. Sales tax is a large part of Denver's tax revenue. Using information from the MD&A and trend information from both statistical tables provided, discuss trends in Denver's sales tax revenues and your projection for sales tax revenues over the next two to three years.
c. What are the three largest sources of governmental funds expenditures? What percentage of the governmental funds expenditures does each of the three sources represent and what has been the trend for each over the past few years?
d. Compare the growth in revenue to the growth in expenditures over the past 10 years. Discuss any changes in the overall expenditure growth patterns you have seen and would expect to see over the next two to three years.
CITY AND COUNTY OF DENVER COLORADO Changes in Fund Balances of Governmental Funds (Partial Statement) Last 10 Fiscal Years Hollars in thousands-modified accrual basis of accounting) 2008 2009 2011 2012 2013 2007 2010 2014 2015 2016 $ 227,188 $ 274,809 $ 259,963 $ 295,381 $ 288,106 $ 287,062 $ 331,914 $ 347,079 $ 349,176 $ 399,859 455,436 468,137 421,838 447,071 481,023 494,495 539,348 608,307 640,251 676,916 150017 136.211 118,165 124 855 132.259 140 123 146,875 165,584 180 745 187,427 1,370 1,394 1,342 1,397 1,429 1,422 1,702 1,575 1,282 29,383 29,364 24,555 29,907 31,094 35,393 44,415 49,963 61,530 61,235 1,913 211,351 156,564 247,386 189.494 208,031 190.940 213,568 196,642 227,776 200.728 236,892 219.691 206,878 225169 218,206 237,077 213,643 265105 223,296 267,170 39.990 37,013 8,668 40,376 1,357,356 34,340 41,473 9,022 40,167 1,471,797 11,826 44,863 5,741 50,664 1,337,928 21.225 47,628 5,961 53,840 1,437,475 23.680 58075 8,661 64,905 1,517,736 10.738 55,964 6,515 51,030 1,539,325 2,003 57,469 7,086 55,664 1,618,523 14,413 54,472 5,578 54,660 1,757 252 14.998 53540 4,657 65,103 1,850,323 18661 49,433 6,709 62,289 1,954,277 Revenues Property taxes Sales and use taxes Other taxes Special assessments Licenses and permits Intergovernmental revenues Charges for services Investment and interest income Fines and forfeitures Contributions Other revenue Total revenues Expenditures General government Public safety Public Works Health Human services Parks and recreation Cultural activities Community development Economic opportunity Prindpal retirement Interest Bond Issuance costs Capital outlay Total expenditures Excess (de ciency) of revenues over funden expendures 236,694 470,978 96,313 48,694 129,451 59,791 72,974 53877 26,122 81,685 53,387 421 95821 1.426,208 255,008 534,984 125,668 52,191 139,013 100,928 40,826 37,808 31,486 70,807 82,598 833 210 430 1.682,580 249,526 488,380 168,048 52,734 128,592 100,182 71,143 41,251 31,885 65,590 61,351 3,272 192232 1.654,186 243,697 499,293 149,812 53,035 119,083 58,212 77,547 50,240 25,860 70,387 60,773 3,041 142.706 1,553,686 239,138 514,421 155,204 52,415 114,004 63,895 80,599 49,882 22,939 81,269 79,425 289 155 267 1.608.747 242,091 545,395 207,205 52,848 110 784 61,761 87,984 40,505 21,482 87,393 75,351 258,408 552,663 170,129 54,205 114,079 66,992 98,038 35,030 21,321 99,525 72,842 304,479 574,812 221,813 59,469 113.799 70,301 107,138 39,469 21,085 95,885 69,427 500 32 692 1,710,874 332,024 607,077 192,462 64,036 123095 73222 110,427 44,791 19,813 104,667 64,622 491 35 194 1,771,921 374,605 606,983 188,078 61,822 135 733 75752 115,446 46.968 14,588 107,346 60,908 2,073 99506 1.889,808 93 934 1,626,733 45872 1,589,109 168.852) (210,783) (316.258) (116 211) (91,011) (87408) 29.414 46,378 78 402 64.469 CITY AND COUNTY OF DENVER, COLORADO Sales Tax by Category Last 10 Calendar Years (dollars in thousands) 2007 2008 2009 2010 2011 2012 200 2014 2015 2016 Apparel stores General merchandise Food stres Eeting and drinking establishments Home furnishings, electronics and appliances Building materials and tarm 10ls Auto dealers and supplies Service statons Public utilities Manuladurng Information producers and distibutors Merjuana stores. retail Marijuana stores - not induding retal Other retail stores All other outlets Total $ 16,474 $ 17,691 $ 16241 $ 18,356 $ 20237 $ 21,796 $ 22,778 $ 24111 $ 25,523 $ 26029 16,209 16,953 14,699 16,921 1682517,161 17704 18.276 18,527 22,189 16210 17.961 17,795 18,790 19467 20.269 21,399 23698 24,994 27,972 60,097 67,878 64798 68,520 75531 77,886 85211 94,439 101,242 106,903 21,543 22,461 19,105 20,413 21,827 22,584 24410 26,138 28,026 38112 35,82637,741 31258 0,962 33700 36,837 44188 5270855,122 78695 38,350 39,584 33.927 35,853 41,544 44,371 50021 55,414 62,000 62,801 11,942 10,719 14792 20,345 16798 15,100 14396 15027 15,058 13333 24,503 30,145 26,118 28,783 3033328,164 30,944 32,931 $1,106 34,033 34,947 29,666 31,526 35073 36,415 40651 46,870 46,166 38,616 36,164 41,431 36,154 37,531 40445 38,576 37877 38213 37,036 40450 n/a na n/a na n/a wa na 10,761 15,636 20611 NA Iva Na NA NA Na Na 6,451 6,996 7,730 44,383 40,913 29743 34,631 47,463 51,512 52.656 55,634 55,530 45338 99,702 89,713 87,542 84,440 81,780 83,824 97,113 107,636 117,289 117,852 $455,436 $468,137 $121,838 $447,071 9481,023 $494 495 $539,348 $608,307 $640,251 $676,916 3.50% 3.62% 3.62% 3.62% 3.62% 362% 3.62% 362% 3.62% 3.65% 30,285 ay drect sales tax rate CITY AND COUNTY OF DENVER COLORADO Changes in Fund Balances of Governmental Funds (Partial Statement) Last 10 Fiscal Years Hollars in thousands-modified accrual basis of accounting) 2008 2009 2011 2012 2013 2007 2010 2014 2015 2016 $ 227,188 $ 274,809 $ 259,963 $ 295,381 $ 288,106 $ 287,062 $ 331,914 $ 347,079 $ 349,176 $ 399,859 455,436 468,137 421,838 447,071 481,023 494,495 539,348 608,307 640,251 676,916 150017 136.211 118,165 124 855 132.259 140 123 146,875 165,584 180 745 187,427 1,370 1,394 1,342 1,397 1,429 1,422 1,702 1,575 1,282 29,383 29,364 24,555 29,907 31,094 35,393 44,415 49,963 61,530 61,235 1,913 211,351 156,564 247,386 189.494 208,031 190.940 213,568 196,642 227,776 200.728 236,892 219.691 206,878 225169 218,206 237,077 213,643 265105 223,296 267,170 39.990 37,013 8,668 40,376 1,357,356 34,340 41,473 9,022 40,167 1,471,797 11,826 44,863 5,741 50,664 1,337,928 21.225 47,628 5,961 53,840 1,437,475 23.680 58075 8,661 64,905 1,517,736 10.738 55,964 6,515 51,030 1,539,325 2,003 57,469 7,086 55,664 1,618,523 14,413 54,472 5,578 54,660 1,757 252 14.998 53540 4,657 65,103 1,850,323 18661 49,433 6,709 62,289 1,954,277 Revenues Property taxes Sales and use taxes Other taxes Special assessments Licenses and permits Intergovernmental revenues Charges for services Investment and interest income Fines and forfeitures Contributions Other revenue Total revenues Expenditures General government Public safety Public Works Health Human services Parks and recreation Cultural activities Community development Economic opportunity Prindpal retirement Interest Bond Issuance costs Capital outlay Total expenditures Excess (de ciency) of revenues over funden expendures 236,694 470,978 96,313 48,694 129,451 59,791 72,974 53877 26,122 81,685 53,387 421 95821 1.426,208 255,008 534,984 125,668 52,191 139,013 100,928 40,826 37,808 31,486 70,807 82,598 833 210 430 1.682,580 249,526 488,380 168,048 52,734 128,592 100,182 71,143 41,251 31,885 65,590 61,351 3,272 192232 1.654,186 243,697 499,293 149,812 53,035 119,083 58,212 77,547 50,240 25,860 70,387 60,773 3,041 142.706 1,553,686 239,138 514,421 155,204 52,415 114,004 63,895 80,599 49,882 22,939 81,269 79,425 289 155 267 1.608.747 242,091 545,395 207,205 52,848 110 784 61,761 87,984 40,505 21,482 87,393 75,351 258,408 552,663 170,129 54,205 114,079 66,992 98,038 35,030 21,321 99,525 72,842 304,479 574,812 221,813 59,469 113.799 70,301 107,138 39,469 21,085 95,885 69,427 500 32 692 1,710,874 332,024 607,077 192,462 64,036 123095 73222 110,427 44,791 19,813 104,667 64,622 491 35 194 1,771,921 374,605 606,983 188,078 61,822 135 733 75752 115,446 46.968 14,588 107,346 60,908 2,073 99506 1.889,808 93 934 1,626,733 45872 1,589,109 168.852) (210,783) (316.258) (116 211) (91,011) (87408) 29.414 46,378 78 402 64.469 CITY AND COUNTY OF DENVER, COLORADO Sales Tax by Category Last 10 Calendar Years (dollars in thousands) 2007 2008 2009 2010 2011 2012 200 2014 2015 2016 Apparel stores General merchandise Food stres Eeting and drinking establishments Home furnishings, electronics and appliances Building materials and tarm 10ls Auto dealers and supplies Service statons Public utilities Manuladurng Information producers and distibutors Merjuana stores. retail Marijuana stores - not induding retal Other retail stores All other outlets Total $ 16,474 $ 17,691 $ 16241 $ 18,356 $ 20237 $ 21,796 $ 22,778 $ 24111 $ 25,523 $ 26029 16,209 16,953 14,699 16,921 1682517,161 17704 18.276 18,527 22,189 16210 17.961 17,795 18,790 19467 20.269 21,399 23698 24,994 27,972 60,097 67,878 64798 68,520 75531 77,886 85211 94,439 101,242 106,903 21,543 22,461 19,105 20,413 21,827 22,584 24410 26,138 28,026 38112 35,82637,741 31258 0,962 33700 36,837 44188 5270855,122 78695 38,350 39,584 33.927 35,853 41,544 44,371 50021 55,414 62,000 62,801 11,942 10,719 14792 20,345 16798 15,100 14396 15027 15,058 13333 24,503 30,145 26,118 28,783 3033328,164 30,944 32,931 $1,106 34,033 34,947 29,666 31,526 35073 36,415 40651 46,870 46,166 38,616 36,164 41,431 36,154 37,531 40445 38,576 37877 38213 37,036 40450 n/a na n/a na n/a wa na 10,761 15,636 20611 NA Iva Na NA NA Na Na 6,451 6,996 7,730 44,383 40,913 29743 34,631 47,463 51,512 52.656 55,634 55,530 45338 99,702 89,713 87,542 84,440 81,780 83,824 97,113 107,636 117,289 117,852 $455,436 $468,137 $121,838 $447,071 9481,023 $494 495 $539,348 $608,307 $640,251 $676,916 3.50% 3.62% 3.62% 3.62% 3.62% 362% 3.62% 362% 3.62% 3.65% 30,285 ay drect sales tax rate
