2018 City of Shakopee Budget

65

Budget Impact: The Finance Department has been active the past two years implementing several initiatives to increase financial transparency and solidify the financial position of city funds. In 2016, the City Council implemented franchise fees for gas and electric utilities with revenues dedicated to capital improvement projects. For 2018, staff recommended a separate Economic Development Authority levy dedicated to economic development activities. Previously, these funds were supported by a transfer from the general fund. Now they have dedicated and transparent funding sources. Another initiative to increase transparency is revamping the budget document. A stand-alone Capital Improvement Plan (CIP) was adopted by the City Council for the first time in 2017. The operating budget is also changing with the goal of becoming a shorter and more understandable document for all users. For example, the budget document is no longer just about numbers; it is now more about telling a story through key measures, narratives and other budget indicators. In addition to implementing CIP software, the department implemented a paperless accounts payable system in 2017 with the goal of increasing internal controls and reducing the number of days to process invoices. The 2018 budget includes ongoing maintenance costs of $3,100.

EMPLOYEES

PERCENT OF GENERAL FUND EXPENDITURES

4

4

4

3.6

Finance 4.8%

Actual 2015 Actual 2016 Budget 2017 Budget 2018

Number of Employees (FTEs)