City of Smithville
Below you will find 18 performance measures that use information from the basic financial statements of the City of Smithville (also referred to as “The City”) as of December 31, 2011. These measures are classified by those that address financial position, financial performance, and financial capability.
FINANCIAL POSITION INDICATORS
Financial position can be calculated using unrestricted net assets, general fund budgetary fund balance, capital asset condition, pension plan funding, debt to assets, current ratio, and quick ratio. I will analyze all of these financial indicators further for the City of Smithville with the exception of pension plan funding due to the lack of information necessary to …show more content…
Revenue dispersion for the City is 60% which is above average and tells us that the City isn’t exposed to potential financial difficulties since they do not rely heavily on government revenue sources.
Debt Service Load
Debt service load for the City is 4.5% which tells us that the City’s noncapital expenditures aren’t really comprised of payment of principal and interest on long-term debt and is well above average.
Bonded Debt Per Capita
The City of Smithville’s bonded debt per capita is $539. The City’s bonded debt burden on its taxpayers in high on the Crawford and Associates rating scale, but it could be much higher.
Available Legal Debt Limit
The City has a 90% capability to issue general bonded debt which is very good and well above average.
Property Taxes Per Capita
Property tax per capita for the City of Smithville is $54.88. This number is slightly below average and tells us that the City’s property tax burden on its taxpayers is high, but could still be higher. CITY OF SMITHVILLE’S OVERALL FINANCIAL CONDITION
The City of Smithville received an overall rating of 5.55 based on my assessment of the ratios and the Crawford Performeter®. This city is in above average