2022 City of Shakopee Budget

72

2022 Annual Budget

Division: Category: General Government Finance

Description of Services:

The major activities of the Finance Department encompass accounts payable, cash and investment management, accounts receivable, financial reports, special assessments, debt service management and oversight, insurance, annual financial report, budget preparation, and long-term financial planning. 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 abatements 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

2019

2020

2021

2022

Personnel

$

431,408 449,798

$

485,357 475,167

$

486,400 496,400

$

516,100 514,500

Supplies and Services

Miscellaneous

-

487

-

-

Totals

$

881,206

$

961,011

$

982,800

1,030,600 $

Dedicated Revenues

$

28,960

$

19,710

$

28,000

$

27,700

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 2019

Actual 2020

Budget 2021

Budget 2022

Key Measures:

Actual

Actual

Projected

Projected

2019 5145

2020 5305

2021 4300

2022 4200

Number of Checks Issued Rate of Return on Pooled Cash/ Investments

2.08%

2.32%

1.50%

1.25%

Amount of Pcards Processed Average Days to Process Invoices Number of ACHs Issued

346,318

278,566

238,775

240,000

14.3

13.1

12.5 850

12.5 1000

0

0