Page 149 - Mansfieldr FY20 Approved Budget

Actual Actual Budget Budget
Finance 2016/2017 2017/2018 2018/2019 2019/2020
Demand

Annual Audit 1 1 1 1

Financial Reports to City Council 12 12 12 12

Invoices Submitted for Payment 17,986 14,547 15,293 16,058

Checks Processed 8,344 8,806 9,357 9,918

Purchasing Cards Processed 175 180 180 181
Workload
Debt Managed (Millions) 256M 228M 240M 236M
Average Daily Investments (Millions) 66M 67M 68M 69M
Operating Budgets Managed (Millions) 173M 205M 175M 204M
Tax Collections (Millions) 42M 45M 49M 55M
Productivity
Tax Collection Rate 100% 99.5% 100% 100%
GFOA CAFR Award 1 1 1 1
Departmental Budget Meetings 15 15 20 25
Effectiveness
Percent Savings of Bond Upgrades 2% 2% 2% 2%
Debt as a Percentage of Total Taxes 34% 34% 33% 32%
Fund Balance-General Fund $14,476,031 $17,028,977 $17,028,977 $17,061,824
Fund Balance Requirement of 25% Accomplished 100% 100% 100% 100%

Measurable Outcomes:
• Due to timing of debt issuance, debt ratios have remained constant.
• In 2020, the Fund Balance will exceed $17,000,000.
• The City will maintain or improve the bond ratings from all three major Bond Rating Agencies.

Finance Actual Actual Budget Budget % Change
Summary 2016-2017 2017-2018 2018-2019 2019-2020 2019-2020
Personnel Services $ 534,228 $ 513,244 $ 558,410 $ 591,346 5.90%

Operations 93,344 93,561 60,604 60,603 0.00%

Total $ 627,573 $ 606,805 $ 619,014 $ 651,949 5.32%

2017-2018 2018-2019 2019-2020 2019-2020
Full Time Equivalent Positions Budget Budget Budget Additions
Deputy City Manager 1 1 1
Asst. Business Services Director 1 1 1
Financial Analyst 1 1 1
Total 3 3 3 0

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