Budget Analysis Report

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CAFR Budget Analysis Report – City of St. Louis, Missouri

CAFR Budget Analysis Report
St. Louis first became legally incorporated as a town on November 9, 1809, though it elected its first municipal legislators (called trustees) in 1808. On August 22, 1876 the City of St. Louis voted to secede from St. Louis County and become an independent city, a move that was not a healthy decision still today. A review of the budget for the City of St. Louis is located using the following link http://stlouis.missouri.org/citygov/comptroller/cafr07.html and pulling up the 2007 Comprehensive Annual Financial Report. The following items are found in the CAFR: population; governmental structure; size of budget and its interrelationship with the CAFR; major industries located in the City of St. Louis and other pertinent demographic information. Population

A quick glance at the economic outlook for St. Louis shows very little growth in the population over the last five years. In 2003, the population was around 2.6 million residents. In the 2007 CAFR, the population is just over 2.7 million. Part of the difficulty in assessing this growth is that many people have moved from the city into the suburbs, so 100,000 new people to the community may be more of an impact than the numbers would indicate. In 2003, job growth in the service sector was anticipated. By 2007, long-term growth projections had migrated to medical and business services as well as convention and tourism. This shift will likely bring more, better paying, jobs for a better educated group of individuals, which can have a lasting impact on the financial position of the city. Government Structure

The elected officials are part of the governmental structure of the City of St. Louis, Missouri. The elected officials include the Mayor, the Comptroller, and the President of the Board of Alderman. The Board of Alderman are elected officials from each of the different wards. There are 28 different wards for the City of St. Louis. The Office of the Comptroller has several different branches. At the top, the Comptroller has a legal advisor and under that are the administration, personnel, and contract administration, the legal and legislative branches. Also under the Comptroller are the Deputy Comptroller, the Internal Audit Executive, and the Deputy Comptroller Finance and Development. Under the Deputy Comptroller are the accounting services and the financial reporting divisions. Under the Internal Audit Executive are the internal audit and the federal grants division. Under the Deputy Comptroller Finance and Development are the asset management and fiscal and economic development divisions.

The government to the City of St. Louis has offices that are appointed by the governor of Missouri, elective offices, and offices appointed by the mayor. Some of the elective offices have to be voted for every four (4) years. Also some of the governors appointed offices get reappointed every four (4) to six (6) years. The other offices do not have a time limit on them. Size of Budget and its Interrelationship with the CAFR

The City of St. Louis had a budget of about $75 million for 2007. In relationship to expenditures and other funds that St. Louis had planned to accrue in 2007 the funds in the budget are considered large because there would be excess funds. The city’s budget affects almost all areas of the basic and comprehensive financial statements. In the CAFR, the analysis of the net assets providers information on governmental and business-type activities that took place in St. Louis for the recent year (2007) and the previous year (2006). It provides basic information and totals about program revenues, general revenues, expenses and differences from the previous to the current year. More in-depth information regarding generating funds and the precise use of the funds can be found by focusing on other parts of the CAFR. The governmental funds, proprietary...
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