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CITY OF ARDEN HILLS, MINNESOTA 2020 BUDGET Function: General Government Fund # 101 Activity: Finance Activity # 41500 Activity Scope Conducts the financial affairs of the City in accordance with the Government Accounting Standards Board (GASB) and Generally Accepted Accounting Principles (GAAP). This includes protecting the assets of the City, the initiation of financial plans, investment and debt management, review and implementation of internal controls, and accounting for financial transactions including accounts payable, accounts receivable and payroll. Objectives 1. Continue working to refine the financial management plan for the City. 2. Continue to produce a Comprehensive Annual Financial Report (CAFR) and reports for the public (Popular Annual Finance Report - PAFR) that receive the GFOA's award for excellence in reporting. 3. Provide meaningful and timely financial reports and information to Council, Commissions and other City Departments. Issues 1. Implement improved reporting procedures to inform Council, Commissions and Departments. 2. Work with other Departments to find ways to reduce costs of City operations. 3. Analyze and implement ways to reduce transaction processing and costs. Budget Commentary This budget increased by 2.5% in 2020 or $4,520. Budget Summary Personnel Services Commodities Contractual Services Total Percent Change Full -Time Equivalent positions Expenditures by Classification 58% 2017 2018 2019 2020 ACTUAL ACTUAL BUDGET BUDGET $ 66,312 $ 47,231 $ 52,540 $ 58,340 19,000 14,424 23,100 20,500 107,351 92,754 106,100 107,420 $ 192,663 $ 154,408 $ 181,740 $ 186,260 (-19.9%) 17.7% 2.5% n Fn n aR n as n r;9 25 oPersonnel Services oCommodities OContractual Services