2021 City of Shakopee Budget

70

2021 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:

Actual

Actual

Budget

Budget

Expenditures by Category

2018

2019

2020

2021

Personnel

$

459,922 450,706

$

431,408 449,798

$

482,300 484,400

$

486,400 496,400

Supplies and Services

Miscellaneous

(26)

-

-

-

Totals

$

910,602

$

881,206

$

966,700

$

982,800

Dedicated Revenues

$

77,547

$

28,960

$

28,000

$

28,000

Expenditures by Category and Dedicated Revenue

$1,200,000

$1,000,000

$800,000

Miscellaneous Supplies and Services Personnel Dedicated Revenues

$600,000

$400,000

$200,000

$-

Actual 2018

Actual 2019

Budget 2020

Budget 2021

Key Measures:

6

11

12

13

Actual

Actual

Projected

Projected

2018 4,936 2.0%

2019 5,145 3.3%

2020 5,000

2021 5,200 1.25%

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

1%

310,311

346,318

315,000

330,000

13.4

14.3

13.8

13.8