VII.2. Finance Update; Bishop
CITY OF HOPKINS
Memorandum
To: Honorable Mayor and Council Members
Mike Mornson, City Manager
From: Nick Bishop, Finance Director
Date: January 19, 2021
Subject: Finance Update
_____________________________________________________________________
PURPOSE
The January 19, 2021 City Council Meeting will include a presentation about the
Finance Department as the second in a series of updates from City Departments in
2021.
INFORMATION
The presentation will include an overview of the Finance Department and its primary
functions. It will also include a tentative schedule of meetings for the 2022 Budget
Process.
Finance Department
City of Hopkins
Community Engagement Plan for 2022 Annual Budget
Overview
Approving the City’s Annual Budget is one of the most important decisions the City Council will
make. The Annual Budget reflects the City’s goals, objectives and priorities established by City
Council.
January 19
City Council presentation on community engagement plan for the 2022 Annual Budget.
January – February
Each department will give a presentation to City Council covering timely topics.
July - September
City Council will review the proposed budget, CIP and ERP.
August 16
A public outreach/input event will be held from 6:00 to 7:00. The first 30 minutes will be a
presentation from the Finance Director about the budget process, financial management plan
and proposed budget. 30 minutes will be for questions and answers.
*Advertised through Hopkins Highlights, Hopkins Connections, social media and the website.
September 21
Approve Preliminary Levy and set truth in taxation hearing date.
October – November
City council can review the preliminary budget as needed.
November 1
Budget Extra in Hopkins Highlights and available on website.
Tuesday, November 30 or Monday, December 6
Hold truth in taxation hearing. This is being held as a standalone meeting to avoid conflicts with
Hopkins School District or Hennepin County. It must be held after November 24th.
*Advertised through Hopkins Highlights, Hopkins Connections, social media and the website.
December 7 or 21
Approve final levy.
City of Hopkins
2022 Budget Preparation Schedule for City Council
The following table outlines the tentative schedule for discussions on important aspects of the City’s Budget.
Meeting Date Meeting Type Subject Details
January 19 Regular Meeting Finance Update -Overview of Community Engagement Plan
and Budget Preparation Schedule for 2022
Budget
January-
February
Regular
Meetings &
Work Sessions
Department Updates -Planning and Development
-Police and Fire
-Public Works
-Community Services and Administration
March 9 Work Session Financial Management Plan -Presentation on FMP
-Decision on Infrastructure Projects in 2022
-Decision on Burnes Park Debt Service in 2022
April-July N/A Internal Preparations -2020 Audit Ongoing
-Departments Prepare Budgets, Equipment
Replacement and Capital Improvement
Schedules
July 13 Work Session Review 2022 Tax Levy and
General Fund Budget
-First Draft
August 10 Work Session Review Capital Improvement Plan
(CIP) and Equipment
Replacement Plan (ERP)
-Park Dedication Fund
-Permanent Improvement Revolving Fund
(Street Projects)
-Equipment Replacement Levy
City of Hopkins
2022 Budget Preparation Schedule for City Council
Meeting Date Meeting Type Subject Details
August 16 Community
Event
Review 2022 Tax Levy and
General Fund Budget
-Presentation
-Question and Answer Session
September 7 Regular Meeting Review 2022 Tax Levy and
General Fund Budget
-Preliminary for approval on September 21
September 21 Regular Meeting Approve Preliminary Tax Levy
and General Fund Budget
-Must be approved by September 30
October 12 Work Session Review Enterprise Fund Budgets
and Utility Rates
-Water -Sewer
-Storm Sewer -Refuse
-Pavilion
November 3 Regular Meeting Approve CIP, ERP and Utility
Rates
November 9 Work Session Review Special Revenue Budgets
and Activity Center Budget
-Chemical Assessment -Parking
-Economic Development -Depot
-Communications -Arts Center
-Activity Center
November
30 or
December 6
(Monday)
Regular Meeting Truth in Taxation Hearing -Overview of 2022 Budget and Tax Levy
-Public Comment
December 7 Regular Meeting Approve Final Budget & Tax Levy
December 21 Regular Meeting Approve Final Budget & Tax Levy -Last scheduled meeting to approve
Finance Update
January 19, 2021
Finance Department
Finance Director
(Nick)
Accounting
Analyst –HR,
Payroll, Elections
(Laura)
Accounting
Analyst –
Accounting
(Katelyn)
Accounting
Technician –
Utility Billing
(Jackie)
Accounting
Technician –
Assessing
(Melanie)
Finance Department
Primary Functions
Accounting
Payroll
Utility Billing
Assessing
Debt Administration
TIF Administration
Finance Department
Document Prepared
Comprehensive Annual Financial Report
City Budget & Property Tax Levy
Capital Improvement Plan
Equipment Replacement Plan
2022 Budget Process
Meeting Date Meeting
Type
Subject Details
January 19 Regular
Meeting
Finance Update -Review 2021 Budget Process
-Overview of Community
Engagement Plan and Budget
Preparation Schedule for 2022
Budget
January-
February
Regular
Meetings &
Work
Sessions
Department Updates -Planning and Development (Jan. 12)
-Police
-Fire
-Public Works
-Recreation
-Community Services and
Administration
2022 Budget Process
Meeting Date Meeting
Type
Subject Details
March 9 Work
Session
Financial Management
Plan
-Presentation on FMP
-Decision on Infrastructure Projects in
2022
-Decision on Burnes Park Debt
Service in 2022
April-July N/A Internal Preparations -2020 Audit Ongoing
-Departments Prepare Budgets,
Equipment Replacement and Capital
Improvement Plans
July 13 Work
Session
Review 2022 Tax Levy and
General Fund Budget
-First Draft
2022 Budget Process
Meeting Date Meeting
Type
Subject Details
August 10 Work
Session
Review Capital
Improvement Plan and
Equipment Replacement
Plans
-Park Dedication Fund
-Permanent Improvement Revolving
Fund (Street Projects)
-Equipment Replacement Levy
August 16 Community
Event
Review 2022 Tax Levy and
General Fund Budget
-Presentation
-Question and Answer Session
September 7 Regular
Meeting
Review 2022 Tax Levy and
General Fund Budget
-Preliminary for approval on
September 21
September 21 Regular
Meeting
Approve Preliminary Tax
Levy and General Fund
Budget
-Must be approved by September 30
2022 Budget Process
Meeting Date Meeting
Type
Subject Details
October 12 Work
Session
Review Enterprise Fund
Budgets and Utility Rates
-Water
-Sewer
-Storm Sewer
-Refuse
-Pavilion
November 3 Regular
Meeting
Approve CIP, ERP and
Utility Rates
November 9 Work
Session
Review Special Revenue
Budgets and Activity
Center Budget
-Chemical Assessment
-Economic Development
-Communications
-Parking
-Depot
-Arts Center
-Activity Center
2022 Budget Process
Meeting Date Meeting
Type
Subject Details
December 6
(Monday)
Regular
Meeting
Truth in Taxation Hearing -Overview of 2022 Budget and Tax
Levy
-Public Comment
December 7 Regular
Meeting
Approve Final Budget and
Tax Levy
December 14 Regular
Meeting
Approve Final Budget and
Tax Levy
-Last scheduled meeting to approve