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Shakopee finance director reports preliminary 2024 results show positive year-end variance
Summary
Finance Director presented preliminary, unaudited results through December 2024 showing the city ended the year with a positive general fund variance driven largely by higher-than-expected tax and permit revenues, and a one-time accounting adjustment for accrued compensated absences.
Shakopee’s finance director presented preliminary, unaudited financial results through December 2024 to the City Council on Feb. 18, reporting that the city ended the year with a positive budget variance but that several accounting adjustments remain.
Finance Director Reinhart told the council the city’s preliminary year-end general fund position shows a net positive of roughly $3.5 million, driven primarily by higher-than-budgeted tax receipts and permit revenues. “Preliminary results show that we ended the year positive,” Reinhart said during his presentation.
Reinhart cautioned the numbers are still subject to journal entries, adjustments and the upcoming audit scheduled for April; final reports are typically presented in June. He said the majority of the positive variance came…
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