2019 City of Shakopee Budget

62

2019 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

2016

2017

2018

2018

2019

Personnel

$

411,669 782,842

$

447,324 790,182

$

464,400 801,300

$

464,800 449,400

$

470,900 466,500

Supplies and Services

Miscellaneous

(26)

4

-

-

-

Totals

1,194,485 $

1,237,510 $

$

1,265,700

$

914,200

$

937,400

Dedicated Revenues

$

390,892

$

375,545

$

372,800

$

73,500

$

23,500

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 2016

Actual 2017

Budget 2018

Budget 2019

Key Measures:

Actual 2016 4,401 1.06%

Actual 2017 5,057 1.10%

Projected

Projected

2018 5,097 1.87%

2019 5,150 1.80%

Number of Checks Issued

Rate of Return on Pooled Cash/ Investments

Amount of Pcards Processed Average Days to Process Invoices

$271,781

$307,292

$306,900

$310,000

18.5

17.1

13.3

13.0