Richmond

Overview


Socioeconomic Data
Population 220,289
Employment 110,800
Unemployment Rate 4.0%  (92 of 116)
Zillow Home Value Index $178,100  (64 of 116)
Government-Wide Revenues and Expenses
General Revenues $467,506,819
Capital Grants and Contributions $44,185,991
Charges For Services $410,169,143
Operating Grants and Contributions $156,503,288
Total Revenues $1,078,366,000
Total Expenditures $1,100,106,000
Change in Net Assets ($20,239,609)
Actuarially Determined Pension Contributions $44,725,725
Pension Contributions Actually Made $44,725,725
Government-Wide Position
Current Assets $500,973,114
Total Assets $2,916,218,887
Current Liabilities $268,367,134
Long Term Debt $1,709,636,089
Total Net Position $684,298,597
Unrestricted Net Position ($129,202,028)

Revs and Exps


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Surplus / (Deficit) General Fund Other Funds Total Gov. Funds
Surplus(deficit) $  41,751,728 $  (162,214,616) $  (120,462,888)
Revenues
Total Revenues $  665,432,812 $  42,894,143 $  708,326,955
Total City Taxes 450,712,602 0 450,712,602
Real Estate 223,491,278 0 223,491,278
Intergovernmental 109,386,999 35,331,111 144,718,110
Personal Property 49,260,306 0 49,260,306
Licenses, Permits and Privilege Fees 39,353,545 50,000 39,403,545
Sales-1% Local 32,567,648 0 32,567,648
Prepared Food 31,686,926 0 31,686,926
Utility Payments 28,848,885 0 28,848,885
Sales Tax for Education 25,102,851 0 25,102,851
Service charges 23,418,816 18,543 23,437,359
Utility Sales Tax 17,646,514 0 17,646,514
State Communication Taxes 16,691,917 0 16,691,917
Miscellaneous 7,877,621 7,467,607 15,345,228
Machinery and Tools 12,838,347 0 12,838,347
Real Estate Taxes - Delinquent 9,155,708 0 9,155,708
Personal Property Taxes - Delinquent 8,867,316 0 8,867,316
Bank Stock 8,816,474 0 8,816,474
Fines and forfeitures 5,822,882 0 5,822,882
Lodging Tax 5,456,014 0 5,456,014
Penalties and Interest 4,384,082 0 4,384,082
Admission 2,357,256 0 2,357,256
Vehicle Rental Tax 937,779 0 937,779
State Recordation 661,291 0 661,291
Telephone Commissions 538,474 0 538,474
Private Utility Poles and Conduits 160,950 0 160,950
Property Rental 1% 82,388 0 82,388
Investment income 11,462 26,882 38,344
Titling Tax-Mobile Home 9,083 0 9,083
FUND BALANCE AT END OF YEAR $  106,166,314 $  (82,471,323) $  23,694,991
Long Term Debt 1,930,767,705 0 0
Expenditures
Total Expenditures $  623,681,084 $  205,108,759 $  828,789,843
Public Safety and Judiciary 182,366,074 7,925,157 190,291,231
Education 162,170,840 0 162,170,840
Capital Outlay 0 106,538,511 106,538,511
General government 79,151,139 12,019,121 91,170,260
Human Services 63,794,935 18,095,748 81,890,683
Highways, Streets, Sanitation and Refuse 59,848,392 1,872,223 61,720,615
Non-Departmental 52,352,720 0 52,352,720
Principal Retirement 0 31,040,730 31,040,730
Culture and recreation 23,996,984 2,215,057 26,212,041
Interest Payments 0 24,077,465 24,077,465
Debt issuance costs 0 1,324,747 1,324,747

Metrics


General Fund Balance Ratio 17.02%  (89 of 116)
Debt to Revenue Ratio 158.54%  (56 of 116)
Pension ADC to Revenue Ratio 4.15%  (83 of 116)
Annual Change in Home Prices -4.14%  (116 of 116)
Annual Change in Unemployment Rate (0.8%)  (56 of 116)
Fiscal Health Score 60  (82 of 116)
Implied Credit Rating AA-