Vous êtes sur la page 1sur 22

City of Shakopee

2015 Audit Presentation


Steve Wischmann, CPA, CFE, CFF, MAFF
Audit Partner

Audit Process

Planning
Fieldwork
Draft CAFR
Final Reports
Council Presentation

Independent Auditors Report


Unqualified Opinion on the Basic Financial Statements
Comprehensive Annual Financial Report (CAFR) also reviewed
for GFOA Certificate of Achievement for Excellence in
Financial Reporting
Explanatory paragraph for GASB 68/71 pension standard
implementation. $10,182,767 Long term liability allocated to
City of Shakopee.

Minnesota Legal Compliance

Compliance audit based on the Minnesota Legal Compliance Audit Guide for
Local Governments covers seven areas of compliance:

Deposits and Investments

Conflicts of Interest

Public Indebtedness

Contracting and Bidding

Claims and Disbursements

Miscellaneous Provisions

Tax Increment Financing

No Current Year Compliance Findings

Government Auditing Standards Report


Report on Government Auditing Standards Findings:
Lack of Segregation of Accounting Duties Significant Deficiency
Improve Ice Arena Receipting Internal Controls - Deficiency

Emerging Issues
Accounting and Financial Reporting for Postemployment Benefits Other than Pensions GASB
Statement 75

General Fund

$25,000,000

$21,000,000

$17,000,000

$13,000,000

$9,000,000

$5,000,000

$1,000,000
Revenues
Expenditures
Fund Balance

2011
$20,956,396
18,674,938
9,304,194

2012
$21,770,348
18,694,101
9,522,841

2013
$22,869,399
19,539,401
9,092,989

2014
$23,794,189
20,506,749
9,838,046

2015
$24,331,286
21,063,756
9,840,110

General Fund Revenues/Expenditures


Per Capita

$700

$600

$575

$556
$495

$500

$524

$513

$494

$616

$608

$600

$533

$400

$300

$200

$100

$2011

2012

2013
Revenues

2014
Expenditures

2015

General Fund Performance


Budget
Revenues
Taxes and assessments
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Miscellaneous revenues
Total revenues
Expenditures
General government
Public safety
Public works
Parks and recreation
Total expenditures

Actual

Variance

$ 16,174,500 $ 16,172,118 $
(2,382)
1,348,300
2,023,436
675,136
1,028,393
1,356,733
328,340
4,050,700
4,452,415
401,715
251,000
7,093
(243,907)
252,000
319,491
67,491
$ 23,104,893 $ 24,331,286 $ 1,226,393

$ 4,448,225 $ 3,883,112 $ (565,113)


9,920,344
10,227,291
306,947
3,238,343
3,036,284
(202,059)
4,260,255
3,917,069
(343,186)
$ 21,867,167 $ 21,063,756 $ (803,411)

Transfers in
Transfers out
Total other financing
Sources (uses)

Change in fund balance

250,000 $
250,000 $
(1,900,000)
(3,515,466) (1,615,466)
(1,650,000)
(412,274) $

(3,265,466)
2,064 $

(1,615,466)
414,338

Unassigned Fund Balance as a Percent of Expenditures

10

70%

60%

50%
49%

51%

48%
47%

46%

40%

30%

20%

10%

0%
2011

2012

2013

2014

2015

General Fund Revenues


11

$25,000,000
$22,000,000
$19,000,000
$16,000,000
$13,000,000
$10,000,000
$7,000,000
$4,000,000
$1,000,000
Miscellaneous
Charges for Services
Fines and Forfeitures
Licenses and Permits
Intergovernmental
Taxes and Assessments

2011
$397,477
3,879,113
357,249
1,225,560
796,076
14,300,921

2012
$359,323
4,035,921
368,167
1,229,184
991,445
14,786,308

2013
$132,202
4,304,786
348,262
1,443,885
1,042,127
15,598,137

2014
$333,177
4,294,637
391,500
1,534,165
1,191,127
16,049,583

2015
$319,491
4,452,415
7,093
2,023,436
1,356,733
16,172,118

Taxable Tax Capacity and Certified Levy

12

$40,000,000

$35,000,000

$30,000,000

$25,000,000

$20,000,000

$15,000,000

$10,000,000

$5,000,000

$Taxable Tax Capacity


Certified Levy

2011
$37,680,587
14,717,367

2012
$35,402,744
14,717,435

2013
$32,445,035
15,333,211

2014
$34,210,957
16,137,178

2015
$38,705,002
16,573,266

Tax Capacity Rate


13

55
48.79

50
45

48.75
46.89

46.26
42.53

46.14
43.45

40
40.03
35
34.73

42.00

46.01
41.44

43.37
37.86

36.66

30
25
20
15
10
5
0
2011

2012
City Rate

2013
State Average

2014
Metro City Average

2015

14

Sewer Fund

15

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$-

$(1,000,000)

$(2,000,000)
Operating Revenues
Operating Expenses
Operating Loss
Change in Net Position

2011
$2,936,144
3,836,202
(900,058)
(524,858)

2012
$3,730,226
3,953,269
(223,043)
(14,003)

2013
$2,973,474
4,122,406
(1,148,932)
(1,162,542)

2014
$2,872,662
3,734,691
(862,029)
(201,729)

2015
$2,845,439
3,846,338
(1,000,899)
(1,425,120)

Storm Drainage Fund

16

$2,000,000

$1,500,000

$1,000,000

$500,000

$-

$(500,000)

$(1,000,000)
Service Charges
Operating Expenses
Operating Loss
Change in Net Position

2011
$995,855
1,411,271
(415,416)
55,008

2012
$1,037,427
1,472,361
(434,934)
431,658

2013
$1,047,160
1,604,937
(557,777)
(3,004)

2014
$1,066,118
1,935,464
(869,346)
101,746

2015
$1,102,728
1,748,461
(645,733)
363,481

Bonded General Obligation Debt


17

$20,000,000
$18,000,000
$16,145,000

$16,990,000
$19,060,000

$16,000,000
$14,000,000

$4,625,946

$13,830,000

$9,574,198
$8,678,680

$12,000,000

$6,620,389

$10,000,000

$8,215,000
$8,000,000

$11,519,054
$9,485,802

$6,000,000

$3,085,157
$8,311,320
$7,209,611

$4,000,000

$5,129,843

$2,000,000
$2011

2012
Gross Bonded Debt

2013
Debt Service Fund Balance

2014
Net Bonded Debt

2015

18

Debt Service Schedule


$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2014 General Fund


Revenues and Expenditures Per Capita

19

$800
$700
$600
$500
$400
$300
$200
$100
$0
Shakopee
Savage
Eden Prairie
Chaska

Total Expenditures
$524
422
649
479

Total Revenues
$608
451
668
468

Tax Revenues
$410
357
477
149

2014 General Fund


Expenditures Per Capita

20

$300

$250

$200

$150

$100

$50

$0
Shakopee
Savage
Eden Prairie
Chaska

General Government
$90
74
63
170

Public Safety
$260
198
295
182

Public Works
$72
79
91
106

Recreation
$102
48
164
20

21

Thank You Questions?

Steve Wischmann, CPA, CFE, CFF,


MAFF
952-563-6880
Steve.wischmann@bergankdv.com

22