Adopted 2017 Annual Operating & Capital Improvement Budget

FINANCE
Personnel & Financial Summary
2015
Audited
Actuals
2016
Amended
Budget
2017
Adopted
Budget
% Change
Staff - Full Time Equivalency (FTE): 16.00 16.00 16.00 0.00%
Expenditures By Category:
Personnel $ 1,136,362 $ 1,294,900 $ 1,316,565 1.67%
Purchased Services 241,572 230,116 337,391 46.62%
Supplies/Non-Capital Equipment 7,000 11,470 11,595 1.09%
Total Expenditures $ 1,384,934 $ 1,536,486 $ 1,665,551 8.40%
Expenditures By Division:
Administration $ 233,050 $ 265,072 $ 274,381 3.51%
Accounting & Financial Reporting 524,161 544,470 662,792 21.73%
Taxpayer Services 627,723 726,944 728,378 0.20%
Total Expenditures $ 1,384,934 $ 1,536,486 $ 1,665,551 8.40%
Expenditures & Full-Time Equivalency
Expenditures
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
2015
Audited
Actuals
2016
Amended
Budget
2017
Adopted
Budget
18.00
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
-
Full-Time Equivalent (FTE)
Total Expenditures
Staff - Full Time Equivalency (FTE):
Explanation of Budget Variances
Significant changes to the 2017 budget include an additional $105,225 in purchase services related to banking service
fees. The increase in fees is due to the reduction of the earnings credit rate received on deposits. Over the past several
years, the City benefited from a rate far exceeding that issued by other banking institutions. The rate, which is now
competitive within the marketplace, no longer offsets the banking service fees incurred by the organization.
An additional change to the 2017 budget includes an increase of $5,000 for postage and shipping services. The increase
to the budget more accurately represents the historical expenditures within the category and therefore does not
represent an anticipated increase in actual costs.
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