09-14-2020-R - Laserfiche WebLink

Home Browse Search

CITY OF ARDEN HILLS, MINNESOTA 2021 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 decreased by 4.3% in 2021 or$8,030 mainly because of the new copier contract that was recently approved. 2018 2019 2020 2021 Budget Summary ACTUAL ACTUAL BUDGET BUDGET Personnel Services $ 47,231 $ 52,839 $ 58,340 $ 60,360 Commodities 14,424 12,816 20,500 20,500 Contractual Services 92,754 89,982 107,420 97,370 Total $ 154,408 $ 155,637 7 186,260 $ 178,230 Percent Change 0.8% 19.7% (43%) Full-Time Equivalent positions 0.48 0.49 0.52 0.52 Expenditures by Classification 34% o Personnel Services o Commodities 55% 13Contractual Services 11% 19