2020 City of Shakopee Budget

66

2020 Annual Budget

Division: Category: General Government Finance

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:

Original Budget

Revised Budget

Actual

Actual

Budget

Expenditures by Category

2017

2018

2019

2019

2020

Personnel

$

447,324 790,182

$

459,922 450,706

$

470,900 466,500

$

466,200 466,000

$

482,300 484,400

Supplies and Services

Miscellaneous

4

(26)

-

-

-

Totals

1,237,510 $

$

910,602

$

937,400

$

932,200

$

966,700

Dedicated Revenues

$

375,545

$

77,547

$

23,500

$

25,200

$

28,000

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 2017

Actual 2018

Budget 2019

Budget 2020

Key Measures:

5

6

9

10

Actual

Actual

Projected

Projected

2017 5,057 1.1%

2018 4936 2.0%

2019 5000 1.5%

2020 5060 1.5%

Number of Checks Issued Rate of Return on Pooled Cash/ Investments Amount of Pcards Processed Average Days to Process Invoices

307,292

310,311

331,200

334,450

17.08

13.4

13.4

13.3