village of plainfield statistical trends
VILLAGE OF PLAINFIELD STATISTICAL TRENDS GENERAL FUND REVENUE PER CAPITA
Total General Fund operating revenues, divided by the current population (as reported or estimated by U. S. or Special Census) Importance
Per capita revenue provides preliminary information about the financial burden on and benefit received from residents. Significant variances should be investigated by examining individual revenue sources.
General Fund Revenue Per Capita 650
600 —
550 500 450
400 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Preferably, revenue per capita should at a minimum remain constant over time. Decreasing revenues might
indicate an inability to meet service demands under the existing revenue structure.
GENERAL FUND TAX REVENUES AS A % OF GENERAL FUND REVENUE
Total General Fund tax revenues ( local and non- local, property, sales tax etc.) collected divided by total General Fund operating revenue. Importance
Taxes are the largest single revenue source in this fund, and so their levels must be carefully monitored on a continual basis.
GF Tax Revenues
as a %
of GF Revenue
74. 00% 70. 00 66. 00% 62. 00% 58. 00% 54. 00% 50. 00%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Fiscal Year
Emerging Trends
Declining
tax revenues, where levies or rates have not been reduced, should be avoided.
2017
VILLAGE OF PLAINFIELD STATISTICAL TRENDS LOCAL TAXES AS A % OF GENERAL FUND REVENUE
Local taxes under direct control of the governing unit ( i. e. sales/ use, property, motor fuel tax) divided by total General Fund operating revenue. Importance
Local taxes are a municipality' s most dependable source of revenue. However, there can be a challenge of balancing the need for financial stability with the burden placed on taxpayers by locally controlled taxes.
Local Taxes
as a %
of GF Revenue
60. 00% 50. 00%
40. 00% 30. 00% 20. 00% 10. 00%
0. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
A low percentage indicates the possibility of little local control over its financial future; a high percentage may indicate too much dependency on the local tax base. The appropriate balance will vary by municipality. Though it is critical to not overburden local taxpayers, the list of local taxes reflect that some of the burden
can be spread to non- residents as well. Municipalities can proactively determine their revenue mix using
local taxes to avoid heavy dependence on any one revenue source.
SALES TAX REVENUE AS A % OF GENERAL FUND REVENUE
Sales and use tax, divided by General Fund operating revenue. Importance
Because sales taxes account for a high percentage of some governments revenues, this ratio measures
dependency and can vary significantly with changes in external economic conditions.
Sales Tax
as a %
of GF Revenue
30. 00%
25. 00%
20. 00%
15. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Decreasing sales tax revenue typically represents a downturn in the economy, but a decline could represent a change
in
a
municipality' s property
mix(
i.
e. #
of sales
tax generating businesses).
VILLAGE OF PLAINFIELD STATISTICAL TRENDS PROPERTY TAX REVENUE AS A % OF GENERAL FUND REVENUE
Property and personal property replacement tax divided by General Fund operating revenue. Importance
Property tax is typically one of the largest revenue sources for municipalities, but it can be politically sensitive. Reliance on these revenues remain high because it is generally an inelastic revenue, as local assessments are averaged over a three year period. r
Property Taxes
as a %
of GF Revenue
30. 00% 25. 00% 20. 00 15. 00% 10. 00%
5. 00% 0. 00%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Being one of the most significant revenue generators, property taxes are used to fund critical day- to- day operations and services that residents expect. Municipalities with excessive growth will experience a future
increase in property tax revenues even when the municipality' s tax rate remains the same, however additional growth tends to increase service needs. Also, impacts based on struggling housing markets should
be examined to address the possible reduction in future property tax revenues.
INCOME TAX REVENUE AS A % OF GENERAL FUND REVENUE
Income Tax divided by General Fund operating revenue. Importance
Income tax revenues fluctuate with economic swings and is outside the control of the local unit.
Overreliance on sources that may be reduced with short notice could impact long- term stability.
Income Tax
as a %
of GF Revenue
20. 00% 15. 00% 10. 00%
5. 00% 0. 00%O 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
While income tax revenues are generally a reliable and steady income source, they are subject to the policy
of the State. The State is currently proposing to push their financial burden to local municipalities by reducing its funding formula. Increasing reliance on this uncontrolled revenue source should be monitored and addressed.
VILLAGE OF PLAINFIELD STATISTICAL TRENDS GENERAL FUND EXPENDITURES PER CAPITA
Total General Fund operating expenditures divided by the current population ( as reported or estimated by U. S. or Special Census) Importance
A unit' s costs are in part related to the size of the population served. One should be aware of population trends and expect proportionate changes in demand for services. Over time, it is desirable to expend fewer dollars per person served.
GF Expenses Per Capita 600 -
500
400 300 -
200 2007
2008
2009
2010
2011
2012
2014
2013
2015
2016
2017
Fiscal Year
Emerging Trends
Warning signs include an increase in operating expenditures per capita unrelated to additional services or increasing demands on existing services. OPERATING SURPLUS ( DEFICIT) AS A % OF GENERAL FUND REVENUE
Total General Fund operating surplus( deficit) divided by the total General Fund operating revenue. Importance
A basic tenant of government is that, over time, revenues should equal expenditures. This ratio
provides an indication of the government' s success in meeting this tenant. f
Operating
Surplus ( Deficit)
as a %
of GF Revenue
20. 00% 15. 00%
10 00%
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0.-
Il
5. 00% 0. 00% 5. 00%
amailimmur
10. 00% 15. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Notable increases in operating surpluses or deficits may indicate a pattern of imbalance of revenues and expenditures that should be examined and addressed through the budget process as well as monitored throughout the year.
VILLAGE OF PLAINFIELD STATISTICAL TRENDS UNRESERVED FUND BALANCE AS A % OF GENERAL FUND REVENUE
Total General Fund unreserved fund balance divided by the total General Fund operating revenue. Importance
Fund balance often assists governments in meeting unexpected needs or emergencies. In cases of revenue shortfall, this measure displays how much revenue could be offset or subsidized by existing unencumbered fund balance.
Unreserved Fund Balance
as a %
of GF Revenue
60. 00%
40. 00%
20. 00%
0. 00% 2008
2007
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
A decreasing unencumbered fund balance may hinder response in the event of an emergency or provide cash flow challenges due to unexpected declines in the economy.
UNRESTRICTED CASH AND INVESTMENTS AS A % OF GENERAL FUND EXPENDITURES
Total General Fund unrestricted cash balance divided by the total General Fund operating expenditures. Importance
Cash assets, or assets readily convertible to cash and unrestricted, are critical for funding unexpected or emergency needs. Still, budgeting should attempt to balance security with over-funding cash- on- hand. t
Unrestricted Cash & Investments
as a %
of GF
Expenses 60. 00% 40. 00%
20. 00%
0. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Declining amounts of assets that can be spent without restriction may suggest that a municipality investigate
expense trends
for
possible
improvements.
Total General Fund operating revenues, divided by the current population (as reported or estimated by U. S. or Special Census) Importance
Per capita revenue provides preliminary information about the financial burden on and benefit received from residents. Significant variances should be investigated by examining individual revenue sources.
General Fund Revenue Per Capita 650
600 —
550 500 450
400 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Preferably, revenue per capita should at a minimum remain constant over time. Decreasing revenues might
indicate an inability to meet service demands under the existing revenue structure.
GENERAL FUND TAX REVENUES AS A % OF GENERAL FUND REVENUE
Total General Fund tax revenues ( local and non- local, property, sales tax etc.) collected divided by total General Fund operating revenue. Importance
Taxes are the largest single revenue source in this fund, and so their levels must be carefully monitored on a continual basis.
GF Tax Revenues
as a %
of GF Revenue
74. 00% 70. 00 66. 00% 62. 00% 58. 00% 54. 00% 50. 00%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
Fiscal Year
Emerging Trends
Declining
tax revenues, where levies or rates have not been reduced, should be avoided.
2017
VILLAGE OF PLAINFIELD STATISTICAL TRENDS LOCAL TAXES AS A % OF GENERAL FUND REVENUE
Local taxes under direct control of the governing unit ( i. e. sales/ use, property, motor fuel tax) divided by total General Fund operating revenue. Importance
Local taxes are a municipality' s most dependable source of revenue. However, there can be a challenge of balancing the need for financial stability with the burden placed on taxpayers by locally controlled taxes.
Local Taxes
as a %
of GF Revenue
60. 00% 50. 00%
40. 00% 30. 00% 20. 00% 10. 00%
0. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
A low percentage indicates the possibility of little local control over its financial future; a high percentage may indicate too much dependency on the local tax base. The appropriate balance will vary by municipality. Though it is critical to not overburden local taxpayers, the list of local taxes reflect that some of the burden
can be spread to non- residents as well. Municipalities can proactively determine their revenue mix using
local taxes to avoid heavy dependence on any one revenue source.
SALES TAX REVENUE AS A % OF GENERAL FUND REVENUE
Sales and use tax, divided by General Fund operating revenue. Importance
Because sales taxes account for a high percentage of some governments revenues, this ratio measures
dependency and can vary significantly with changes in external economic conditions.
Sales Tax
as a %
of GF Revenue
30. 00%
25. 00%
20. 00%
15. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Decreasing sales tax revenue typically represents a downturn in the economy, but a decline could represent a change
in
a
municipality' s property
mix(
i.
e. #
of sales
tax generating businesses).
VILLAGE OF PLAINFIELD STATISTICAL TRENDS PROPERTY TAX REVENUE AS A % OF GENERAL FUND REVENUE
Property and personal property replacement tax divided by General Fund operating revenue. Importance
Property tax is typically one of the largest revenue sources for municipalities, but it can be politically sensitive. Reliance on these revenues remain high because it is generally an inelastic revenue, as local assessments are averaged over a three year period. r
Property Taxes
as a %
of GF Revenue
30. 00% 25. 00% 20. 00 15. 00% 10. 00%
5. 00% 0. 00%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Being one of the most significant revenue generators, property taxes are used to fund critical day- to- day operations and services that residents expect. Municipalities with excessive growth will experience a future
increase in property tax revenues even when the municipality' s tax rate remains the same, however additional growth tends to increase service needs. Also, impacts based on struggling housing markets should
be examined to address the possible reduction in future property tax revenues.
INCOME TAX REVENUE AS A % OF GENERAL FUND REVENUE
Income Tax divided by General Fund operating revenue. Importance
Income tax revenues fluctuate with economic swings and is outside the control of the local unit.
Overreliance on sources that may be reduced with short notice could impact long- term stability.
Income Tax
as a %
of GF Revenue
20. 00% 15. 00% 10. 00%
5. 00% 0. 00%O 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
While income tax revenues are generally a reliable and steady income source, they are subject to the policy
of the State. The State is currently proposing to push their financial burden to local municipalities by reducing its funding formula. Increasing reliance on this uncontrolled revenue source should be monitored and addressed.
VILLAGE OF PLAINFIELD STATISTICAL TRENDS GENERAL FUND EXPENDITURES PER CAPITA
Total General Fund operating expenditures divided by the current population ( as reported or estimated by U. S. or Special Census) Importance
A unit' s costs are in part related to the size of the population served. One should be aware of population trends and expect proportionate changes in demand for services. Over time, it is desirable to expend fewer dollars per person served.
GF Expenses Per Capita 600 -
500
400 300 -
200 2007
2008
2009
2010
2011
2012
2014
2013
2015
2016
2017
Fiscal Year
Emerging Trends
Warning signs include an increase in operating expenditures per capita unrelated to additional services or increasing demands on existing services. OPERATING SURPLUS ( DEFICIT) AS A % OF GENERAL FUND REVENUE
Total General Fund operating surplus( deficit) divided by the total General Fund operating revenue. Importance
A basic tenant of government is that, over time, revenues should equal expenditures. This ratio
provides an indication of the government' s success in meeting this tenant. f
Operating
Surplus ( Deficit)
as a %
of GF Revenue
20. 00% 15. 00%
10 00%
111111111111111W.. 111141;
0.-
Il
5. 00% 0. 00% 5. 00%
amailimmur
10. 00% 15. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Notable increases in operating surpluses or deficits may indicate a pattern of imbalance of revenues and expenditures that should be examined and addressed through the budget process as well as monitored throughout the year.
VILLAGE OF PLAINFIELD STATISTICAL TRENDS UNRESERVED FUND BALANCE AS A % OF GENERAL FUND REVENUE
Total General Fund unreserved fund balance divided by the total General Fund operating revenue. Importance
Fund balance often assists governments in meeting unexpected needs or emergencies. In cases of revenue shortfall, this measure displays how much revenue could be offset or subsidized by existing unencumbered fund balance.
Unreserved Fund Balance
as a %
of GF Revenue
60. 00%
40. 00%
20. 00%
0. 00% 2008
2007
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
A decreasing unencumbered fund balance may hinder response in the event of an emergency or provide cash flow challenges due to unexpected declines in the economy.
UNRESTRICTED CASH AND INVESTMENTS AS A % OF GENERAL FUND EXPENDITURES
Total General Fund unrestricted cash balance divided by the total General Fund operating expenditures. Importance
Cash assets, or assets readily convertible to cash and unrestricted, are critical for funding unexpected or emergency needs. Still, budgeting should attempt to balance security with over-funding cash- on- hand. t
Unrestricted Cash & Investments
as a %
of GF
Expenses 60. 00% 40. 00%
20. 00%
0. 00% 2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Fiscal Year
Emerging Trends
Declining amounts of assets that can be spent without restriction may suggest that a municipality investigate
expense trends
for
possible
improvements.
