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Finance & Property Services Department 2020 Budget
As recommended by Mayor Frey on August 15, 2019
October 24, 2019
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City of Minneapolis
Department Overview
October 24, 2019
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Finance & Property Services Department 2020 Budget As - - PowerPoint PPT Presentation
Finance & Property Services Department 2020 Budget As - - PowerPoint PPT Presentation
Finance & Property Services Department 2020 Budget As recommended by Mayor Frey on August 15, 2019 October 24, 2019 1 Department Overview October 24, 2019 City of Minneapolis 2 Who we are and what we do October 24, 2019 3 2020
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Who we are and what we do
October 24, 2019
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City of Minneapolis
2020 Current Service Level
October 24, 2019
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Current Service Level Changes – 2019 to 2020
October 24, 2019
Program name 2019 adopted 2020 Current Service Level Change
General fund Other funds FTEs General fund Other funds FTEs % Description Controller $7,571,000 $257,000 59.0 $8,108,000 $269,000 59.0
7.0% Inflationary increases in operation costs
Procurement $3,667,000 $1,149,000 40.0 $3,848,000 $1,188,000 40.0
4.6% Inflationary increases in operation costs
Revenue & Collections $6,967,000 45.0 $6,065,000 45.0
- 12.9% Reallocation of budget line items & One-time
expenditures in 2019 ($950,000) Payroll $1,839,000 16.0 $1,919,000 16.0
4.4% Inflationary increases in operation costs
Risk Management & Claims $2,019,000 9.0 $1,999,000 9.0
- 1.0% Relatively flat.
Executive/Administration $680,000 4.0 $706,000 4.0
3.8% Inflationary increases in operation costs
Budget $1,549,000 5.0 $1,051,000 5.0
- 32.1% One-time dollars of $550,000 in 2019
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Current Service Level Changes – 2019 to 2020
October 24, 2019
Program name 2019 adopted 2020 Current Service Level Change
General fund Other funds FTEs General fund Other funds FTEs % Description Investments, Capital & Debt Management $724,000 3.0 $443,000 3.0
- 38.8% Reallocation of budget line items
Development Finance $1,635,000 10.0 $1,709,000 10.0
4.5% Inflationary increases in operation costs
Property Services $264,000 $23,154,000 72.5 $258,000 $23,786,000 72.5
2.7% Inflationary increases in operation costs
Total $24,896,000 $26,579,000 263.5 24,107,000 27,242,000 263.5
- 0.2%
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City of Minneapolis
2020 Change Items
October 24, 2019
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Asset Management Strategy
Repurposing one existing department FTE to a budget division staff to enable the budget division to oversee capital budgets in addition to operating budgets Using this position to create an asset management system that incorporates data from all major City asset categories into one format to aid in budget prioritization, financial reporting and risk management. Expense in 2020 is for software and condition assessments
October 24, 2019
2020 2021 2022 2023 2024 2025 Revenue Expense $200 Net Impact $200
Above Figures Shown in 000s of dollars
FTE 8
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Credit Card Fees for Utility Billing
Requesting $400,000 ongoing General Fund resources for increased credit card fees. The funds will be used to pay for credit card fees resulting from the payment of utility bills via credit card. The general fund increased expense will be
- ffset by the general fund
- verhead charge to the
enterprise funds. FPS is also exploring options to create a separate mechanism for and extra charge to consumers who use credit cards
October 24, 2019
2020 2021 2022 2023 2024 2025 Revenue $400 $400 $400 $400 $400 $400 Expense $400 $400 $400 $400 $400 $400 Net Impact
- Above Figures Shown in 000s of dollars
FTE 9
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Grants Oversight
FPS requests $100,000
- ngoing General Fund
resources for one full time grant accounting position in the Controller’s Division. This position will assist in grant accounting, subrecipient grant monitoring, grant management, and technical assistance to recipient departments for all grants received by the City.
October 24, 2019
2020 2021 2022 2023 2024 2025 Revenue $100 $100 $100 $100 $100 $100 Expense $100 $100 $100 $100 $100 $100 Net Impact
- Above Figures Shown in 000s of dollars
FTE 1.0 1.0 1.0 1.0 1.0 1.0 10
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Expanded Internal Investment Strategy
One additional staff member at an estimated cost of $120,000 to assist with the accounting, reporting and administration required by expanding the amount of assets being managed internally in lieu of external
- management. Increased
revenues are more interest income due to paying less fees to outside managers.
October 24, 2019
2020 2021 2022 2023 2024 2025 Revenue $200 $200 $200 $200 $200 $200 Expense $120 $120 $120 $120 $120 $120 Net Impact
- $80
- $80
- $80
- $80
- $80
- $80
Above Figures Shown in 000s of dollars
FTE 1.0 1.0 1.0 1.0 1.0 1.0 11