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HomeMy WebLinkAbout5.D.14. 2004 Finance Department Budget s.p.\Y CITY OF SHAKO PEE Memorandum TO: Mayor and Council Mark McNeill, City Administrator FROM: Gregg Voxland, Finance Director SUBJ: 2004 finance Department Budget DATE: August 26, 2003 The Finance Department revised budget for 2003 is $598,680 while the 2004 is $614,870, an increase of $16,190 or 3%. The three significant changes arei 1. The accounting clerk position is budgeted for full time in 2003 while for 2004 it is 4/5ths time. 2. The Assessing contract approved by council was $89,400 in 2003 but for 2004 it is $102,400. 3. The auditing agreement for 2003 was $26,100 and for 2004 it is $34,100 which includes conversion to the new Governmental Accounting Standards Board #34 accounting model which the city is required to implement this year. The lodging tax pass-through is accounted for in the Finance Department. CITY OF SHAKO PEE 2004 GENERAL FUND BUDGET DIVISION: FINANCE MISSION STATEMENT: Provide accurate and current financial and statistical data to internal departments and the city Council in a timely manner. Manage the City's financial assets effectively and efficiently. ACTIVITY: The major activities of the Finance Department encompass, accounts payable, cash management, accounts receivable, financial report s , special assessments, annual financial report, budget, insurance and many other of lesser importance. GOALS: 1. Provide accurate and timely information to management. 2. Complete the preparation of the City's budget and CAFR cost effectively. 3. Provide quality overall financial services. MEASUREMENT OF GOALS: 1. Cost per capita of Finance Dept. expenditures: (without lodging tax) Actual Budgeted Requested 2002 2003 2004 Total Finance Expenditures $440,470 $423,680 $434,040 City population 25,316 26,837 28,337 Cost Per Capita $ 17.40 $ 15.79 $ 15.32 OBJECT DESCRIPTION: Description of lines items: Wages & Benefits: Finance Director, Accounting Clerk (2) Professional Services: Auditing services $34,100 (total) , County TNT notices $1,400, Investment safe keeping fees $8,000 and Cash Manager Fees $50,000 both offset by revenue, misc. services as needed $1,500 and assessing contract with the county $102,400 and county special assessment fees $3,000. Lodging tax not included in performance measures $180,000. Rentals: LOGIS R5509BUD .S005 CITY OF.OPEE 8.3 14:07:29 Fiscal Period: 7 / 03 Budget Report Page - 1 Level Of Rollup 7 2000 2001 2002 7/31/2003 2003 2004 2004 2004 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 01000 GENERAL FUND 15 FINANCE 6000 EXPENDITURES 6001 WAGES & BENEFITS 6002 WAGES 170,619 183,133 198,422 87,587 157,890 155,630 155,630 155,630 6015 WAGES - PART TIME/TEMP 9,460 960- 6002 WAGES 180,079 182,173 198,422 87,587 157,890 155,630 155,630 155,630 6100 BENEFITS 6122 PERA 9,327 9,433 10,946 4,844 8,730 8,610 8,610 8,610 6124 FICA 13,643 13,647 14,506 6,419 12,080 11,910 11,910 11,910 6135 HEALTH 20,603 20,939 18,592 11,094 14,000 18,650 18,650 18,650 6139 POST EMPLOYMENT HEALTH PLAN 1,194 523 900 900 900 900 6140 L1FE/L TD 976 1,073 976 473 180 760 760 760 6145 DENTAL 999 1,182 608 900 1,080 1,080 1,080 6170 WORKERS COMPENSATION 774 630 622 577 550 580 580 580 6180 COMPENSATED ABSENCES 3,359 1,440 3,141- 3,000 3,000 3,000 3,000 6100 BENEFITS 48,682 48,160 44,876 24,537 40,340 45,490 45,490 45,490 --- 6001 WAGES & BENEFITS 228,762 230,333 243,298 112,124 198,230 201,120 201,120 201,120 6200 SUPPLIES AND SERVICES 6201 SUPPLIES & SERVICES 6202 OPERATING SUPPLIES 574 415 6210 OFFICE SUPPLIES 3,740 4,708 2,338 107 4,550 4,600 4,600 4,600 6222 MOTOR FUELS & LUBRICANTS 75 50 50 50 50 50 6240 EQUIPMENT MAINTENANCE 141 165 6201 SUPPLIES & SERVICES 3,957 4,923 2,912 522 4,600 4,650 4,650 4,650 6300 PROFESSIONAL SERVICES 6310 ATTORNEY 148,604 9,653 4,334 6316 EQUIPMENT MAINTENANCE 33 500 400 400 400 6318 FILING FEES 151 22- 6327 OTHER 295,607 309,764 197,222 356,300 376,200 376,200 376,200 6300 PROFESSIONAL SERVICES 148,604 305,444 314,076 197,222 356,800 376,600 376,600 376,600 6330 COMMUNICATIONS 6334 TELEPHONE 2,126 92 451 222 1,800 500 500 500 6336 PRINTING/PUBLISHING 2,210 909 792 515 2,300 1,100 1,100 1,100 ~- 6330 COMMUNICATIONS 4,336 1,001 1,243 737 4,100 1,600 1,600 1,600 R5509BUD eS005 CITY O.OPEE 8.3 14:07:29 Fiscal Period: 7 / 03 Budget Report Page- 2 Level Of Rollup 7 2000 2001 2002 7/31/2003 2003 2004 2004 2004 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 6350 INSURANCE 6352 LIABILITY 1,716 2,451 4,283 3,000 4,900 4,900 4,900 6354 PROPERTY 3,461 200 6350 INSURANCE 3,461 1,916 2,451 4,283 3,000 4,900 4,900 4,900 6400 RENTALS 6410 LOGIS 43,799 32,973 20,448 36,000 33,100 33,100 33,100 6435 OTHER RENT 45,709 400 6400 RENTALS 45,709 43,799 32,973 20,448 36,400 33,100 33,100 33,100 6470 DUES/TRAINING/TRAVEL 6472 CONFERENCE/SCHOOL/TRAINING 460 1,075 2,130 303 1,500 1,500 1,500 1,500 6475 TRAVEL/SUBSISTENCE 917 2,421 635 120 1,600 1,000 1,000 1,000 6480 DUES 190 190 270 235 450 350 350 350 6490 SUBSCRIPTIONS/PUBLICATIONS 99 40 50 50 50 6470 DUES/TRAINING/TRAVEL 1,567 3,785 3,074 658 3,550 2,900 2,900 2,900 6498 EXPENSE CHARGED BACK 8,000- 7,000- 8,000- 8,000- 10,000- 10,000- 10,000- 6200 SUPPLIES AND SERVICES 199,633 353,867 348,729 223,870 400,450 413,750 413,750 413,750 6500 DEPRECIATION 6600 MISCELLANEOUS 6640 DESIGNATED MISCELLANEOUS 6660 CASH SHORT/OVER 18- 17- 59- 5- 6640 DESIGNATED MISCELLANEOUS 18- 17- 59- 5- 6600 MISCELLANEOUS 18- 17- 59- 5- 6700 CAPITAL OUTLAY 6740 EQUIPMENT 5,130 6700 CAPITAL OUTLAY 5,130 6800 DEBT SERVICE 6840 DEBT SERVICE INTEREST 6860 FISCAL AGENT FEES 1,125 1,125 6840 DEBT SERVICE INTEREST 1,125 1,125 6800 DEBT SERVICE 1,125 1,125 R5509BUD eS005 CITY O.OPEE 8.3 14:07:29 Fiscal Period: 7 / 03 Budget Report Page - 3 Level Of Rollup 7 2000 2001 2002 7/31/2003 2003 2004 2004 2004 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 6000 EXPENDITURES 434,632 585,308 591,969 335,989 598,680 614,870 614,870 614,870 15 FINANCE 434,632 585,308 591,969 335,989 598,680 614,870 614,870 614,870 01000 GENERAL FUND 434,632 585,308 591,969 335,989 598,680 614,870 614,870 614,870 Finance 2004 Budget Business Unit Business Unit Business Unit Business Unit Business Unit Business Unit 0150 0151 0152 0155 0156 0157 Budget Object # Description Benefits Management Accounting Budget Assessment Lodging Tax Total 2003 Dlff 6002 Wages FT - Reg, 37,980 53,120 46,300 13,670 4,560 155,630 157,890 (2,260) 6005 Wages OT - Reg. 6015 Wages PT - Temp 6122 PERA 2,100 2,940 2,560 760 250 8,610 8,730 (120) 6124 FICA 2,910 4,050 3,550 1,050 350 11,910 12,080 (170) 6126 ICMA 6128 Fire Pension 6135 Health 18,650 18,650 14,000 4,650 6139 PEHP 900 900 900 6140 Life 760 760 1,080 (320) 6145 Dental 1,080 1,080 900 180 6170 Workers Comp 580 580 550 30 6180 Compensated Absences 3,000 3.000 3,000 6190 Retirement Benefit Total Personnel 67,960 60,110 52,410 15,480 5,160 201,120 198,230 2,890 6210 Operating Supplies 4,600 4,600 4,550 50 6215 Materials 6222 Motor Fuels & Lubricants 50 50 50 6230 Building Maintenance 6240 Equipment Maintenance 6300 Professional Services 6310 Attorney 6312 Engineering Consultants 6314 Computer Services 6315 Building Maintenance 6316 Equipment Maintenance 400 400 500 (100) 6318 Filiing Fees 6322 Pavement Preservation 6327 Other 166,200 30,000 180,000 376,200 356,300 19,900 6332 Postage 6334 Telephone 500 500 1,800 (1,300) 6336 Printing/Publishing 1,100 1,100 2,300 (1,200) 6350 Insurance 4,900 4,900 3,000 1,900 6354 Property Insurance 6360 Utility Service 6365 Gas 6367 Refuse 6400 Rentals 6410 LOGIS 33,100 33,100 36,000 (2,900) 6420 Equipment Rent 6425 Equipment Rent (IS FUND) 6430 Building Rent (IS FUND) 6435 Other 400 (400) 6472 Conf / School/Training 1,500 1,500 1,500 6475 Travel/Subsistence 1,000 1,000 1,600 (600) 6480 Dues 350 350 450 (100) 6490 Subscriptions/Publications 50 50 50 6640 Designated Miscellaneous 6660 Cash Over/Short Total Supplies & Services 180,650 63,100 180,000 423,750 408,450 15,300 6740 Capital Expenditures 6498 Expenses Charged Back (10,000) (10,000) (8,000) (2,000) Total $ 67,960 $ 230,760 $ 115,510 $ 15,480 $ 5,160 $ 180,000 $ 614,870 $ 598,680 $16,190 2.70% *Co Citv of Shakooe 8/26/03 Pav 04 tax lew 02/03 mtin4 Chl'lna~ General Tax Lev Limit 7 430 255 7 871 377 441 122 5.9% Debt Service 1995A Imo 62 660 62274 cnx 1996A Imo 64 849 64 173 cnx 19988 Imo 65 567 61 866 cnx 199781mo 30 210 30 210 30151 30 151 2000A Imo 47105 47 105 55 032 55 032 2002A Imo 94 434 94 434 93 332 93 332 19958 Storm Revenue 157 542 156 309 156309 MCES I 396 930 Fire Referendum 266 333 265217 Total Debt Service 171 749 731 754 560 005 326.1% I COPS 2003 matchinn Ie'^' 92 883 PERA increase lew Certainteed lew for tax abatement Total Lew 7 602 004 8 725 239 1 123235 14.8% Fiscal Disn Dist (556 756) 7655 72m (98 964) Net Lew to snread 7 045 248 8069519 1 024 271 14.5% Market Value cut 560 263' Allowance for Uncoil. (152040) 174505' (22 465) 8udaet Amount R AQ~ ,)()A 7 ~~4 7Fi1 441 543 General Fund 6661 459 (net) 7 096 236 434 777 6.5% EDA - citv lew 60 000 60 000 Debt Service 171 749 178515 6766 LEVY03-04.XLS LEVY03-04 2:12 PM 8/26/03 City of Shakopee Prooertv Tax - tax caoacitv based 8/26/03 Pay 2003 Pay 2004 Change Net levy spread $7,045,248 $8,069,519 14.54% Total City Net Taxable Tax Cap. 20,744,219 24,040,583 15.89% City Tax Rate 33.9625% 33.5662% -1.17% Assessor's Estimated Market Value $126,400 $141,600 12.0% Tax Capacity First $500,000 at 1% 1,264 1,416 Balance at 1.25% 1,264 1,416 12.0% State Tax Credit $46.01 City Tax $429.29 $475.30 10.7% Assessor's Estimated Market Value $145,000 $162,400 12.0% Tax Capacity First $500,000 at 1% 1,450 1,624 Balance at 1.25% 1,450 1,624 12.0% State Tax Credit $52.66 City Tax $492.46 $545.12 10.7% Assessor's Estimated Market Value $214,900 $240,700 12.0% Tax Capacity First $500,000 at 1% 2,149 2,407 Balance at 1.25% 2,149 2,407 12.0% State Tax Credit $78.09 City Tax $729.85 $807.94 10.7% Assessor's Estimated Market Value $255,000 $285,600 12.0% Tax Capacity First $500,000 at 1% 2,550 2,856 Balance at 1.25% 2,550 2,856 12.0% State Tax Credit $92.61 City Tax $866.04 $958.65 10.7% Assessor's Estimated Market Value $255,000 $285,600 12.0% Tax Capacity Conunercial First $150,000 at 1.5% 2,250 2,250 Balance at 2.0% 2,100 2,712 4,350 4,962 14.1% $188.19 City Tax $1,477.37 $1,665.56 12.7% LEVY03-04,XLS TAXBILL pay 04 2:14 PM 8/26/03