2019 City of Shakopee Budget

160

2019 Annual Budget

Fund:

Governmental Building Asset Internal Service Fund

Description of Services:

This fund finances the future purchase, major reconstruction, and additions to City owned buildings including City Hall, Library, Public Works, Police, and Fire Stations. Financing to accomplish this is provided by "rental" payments from the operating departments at rates established annually by the Finance Department as part of the budget process. The Building Fund shall "own" and acquire these buildings.

Key Measures:

Actual

Actual

Budgeted

Budgeted

2016

2017

2018

2019

# Projects

2

1

7

3

Establishment: Council established the Building Fund in 1998. The scope of the fund was expanded in 2000 to include major repairs defined as those without which the building would be unusable for its intended purpose. It was further expanded in 2008 to include energy savings or green initiatives such as lighting upgrades, boiler modifications, etc.