Finance

The Finance Department provides financial management and accounting services for all City operations. This includes the daily financial operation of processing accounts payable, accounts receivable, utility billing, and risk management.

The finance department manages the investment of funds, assists in the issuance of bonds and other indebtedness of the City and prepares periodic and annual financial reports. The department also coordinates the City’s budget process, public improvement financing and financial reporting for grants and economic development.
Budget

Annual City Budget


The Finance Department is responsible for preparation of the annual city budget under the direction of the City Administrator. The budget year coincides with the calendar year, running January through December. The budget process follows a timetable established by state law. The proposed city budget for the upcoming year is usually presented to the City Council in the beginning of November each year. A summary of the proposed budget is available for the public once the document has been distributed to the City Council.

A copy of the City’s current budget or proposed budget can be found on the City Budget page. The City’s budget can be viewed at
City Hall
800 East County Road E
Vadnais Heights, MN

Comprehensive Annual Financial Report (CAFR)


Each year, the Finance Department issues a Comprehensive Annual Financial Report (CAFR) that provides complete information on the city’s finances.

The CAFR has 3 major parts:
  1. Introduction - provides general information on the government’s structure, services and environment.
  2. Financial - contains the basic financial statements, notes to the financial statements, any additional required supplementary information, information on individual funds, and discretely presented component unit.
  3. Statistical - presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the city’s overall financial health. The statistical section includes financial trends, revenue capacity, debt capacity, demographic and economic information and operating information.
A copy of the CAFR can be accessed on the right hand side of this page as well as at City Hall.