2018 City of Shakopee Budget

64

2018 Annual Budget

Division: Finance Category: General Government

Description of Services:

The major activities of the Finance Department encompass accounts payable, cash management, accounts receivable, financial reports, special assessments, debt service management and oversight, annual financial report, budget preparation, insurance and many other work tasks of importance. As the economic development of the area continues to expand, the coordination of the potential projects, requests for business subsidies, review and impact of tax increment financing and tax abatement concerns also flow through this department. The oversight and review of the Internal Service funds allows for a consistent funding source to meet the needs of a growing staff and community.

Budget:

Actual

Actual

Original Budget Revised Budget

Budget

Expenditures by Category

2015

2016

2017

2017

2018

Personnel

$

251,958 871,646

$

411,669 782,842

$

436,600 771,300

$

443,500 772,170

$

464,400 801,300

Supplies and Services

Miscellaneous

(20)

(26)

-

-

-

Totals

1,123,584 $

1,194,485 $

$

1,207,900

$

1,215,670

1,265,700 $

Dedicated Revenues

$

356,324

$

390,892

$

352,800

$

352,800

$

372,800

Expenditures by Category and Dedicated Revenue

$1,400,000

$1,200,000

$1,000,000

Miscellaneous Supplies and Services Personnel Dedicated Revenues

$800,000

$600,000

$400,000

$200,000

$-

Actual 2015

Actual 2016

Budget 2017

Budget 2018

Key Measures:

Actual 2015 3,406 1.38%

Actual 2016 3,678 1.56%

Projected

Projected

2017 4,050 1.60%

2018 4,100 1.75%

Number of Checks Issued

Rate of Return on Pooled Cash/ Investments

Amount of Pcards Processed Average Days to Process Invoices

$201,392

$271,781

$298,399

$320,000

21.8

20.2

18.3

15.0