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CITY OF ARDEN HILLS, MINNESOTA 2023 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 an Annual Comprehensive Financial Report (ACFR) 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 4.0% in 2023, or $7,330. Budget Summary Personnel Services Commodities Contractual Services Total Percent Change Full -Time Equivalent positions Expenditures by Classification 2020 2021 2022 2023 ACTUAL ACTUAL BUDGET BUDGET $ 58,488 $ 68,026 $ 73,370 $ 79,630 8,170 10,229 18,000 16,500 77,738 71,996 92,850 95,420 $ 144,397 $ 150,251 7184,220 $ 191,550 4.1 % 22.6% 4.0% 41 % O Personnel Services O Commodities OContractual Services 9%