2022 City of Shakopee Budget

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Budget Process Scott County assessor sets property values during the previous year. The county sends valuation notices early in the current year for the next year’s taxes. In May and June, the local Board of Review and County Board of Equalization meet to consider appeals of property values from owners. June through March – Tax Court petitions must be filed to appeal previous year assessment. The City’s budget process starts in the spring for the following year. City Council and staff discussed the City’s long-term financial plan that included trend analysis and t en year General Fund projections. A Five Year Capital Improvement Plan (CIP) is prepared by departments and brought to the City Council in mid-July. This document is approved by the City Council in September. The document also includes a 15-year CIP and the long-term financial plan for the City. Public input meetings are held in May and June to allow feedback and input from residents early in the process. In July, departments discuss big picture issues and new initiatives. Forecasts are prepared for compensation, revenues, utilities and internal service fund allocations. These items are used to prepare the preliminary tax levy. Management and City Council review the proposed budget and preliminary levy in late August and the maximum tax levy is certified to the county auditor by September 30 th . In September and October, the department budgets are finalized. In mid-November, taxpayers receive a notice of the proposed amount of property taxes they would be billed for in the following year. Early in December a public meeting on the budget and tax levy is held and the final tax levy and budget are adopted. Budgets are legally adopted for all Funds through this budget document. The Economic Development Authority is a legally separate entity but is blended in as a special revenue fund because the City Council also serves as the Board for the EDA. Budgets are legally adopted at the division level for the General Fund. Staff may shift budget amounts within divisions, but governing body action is needed to change division or fund totals. The current year budget can be amended at any point with council action. Current practice is to bring forward a listing of all budget amendments for Council approval in November/December. General fund appropriations lapse at the year’s end.