Finance

The Finance Department manages all budgetary matters, debt administration, and payables.

The City Finance Director is responsible for accounting, internal audits, grant management, and for issuing an Annual Comprehensive
Financial Report (ACFR) for the City. The Finance Department is proud to report that for 35 consecutive years, the City has been awarded a Certificate for Excellence in Financial Reporting by the Government Finance Officers Association. The ACFR is linked below and copies are also on file with the Chippewa River District Library Reference Desk.

Annual Comprehensive Financial Report (ACFR) for Year Ended December 31, 2022
*For optimal viewing, open in Adobe two page view by clicking on the 3 dots on the right side of screen and selecting 2 page view.

Additional Financial Reports

Budget Information
The City prepares an annual Operating Budget and a five year Capital Improvement Plan. Current period copies of each are linked below and are also available at the office of the City Clerk at City Hall and the Chippewa River District Library Reference Desk.

 Public hearings on the proposed Capital Improvement Plan are held in May and public hearings on the proposed Operating Budget are held in November.

Financial Dashboard
As part of the 2020-2021 State Budget, municipalities were encouraged to provide summarized financial information in a standardized format. The performance dashboard below compares the fiscal stability, economic strength, public safety issues and overall quality of life within the City for 2020 and 2021. The following links also provide the recommended information:
Performance Dashboard
Fiscal Stability 2020 2021 Progress
General Fund Expenditures per Capita $535 $707 down_arrow
Unassigned Fund Balance as % of General Fund Expenditures 37.3% 35.2% down_arrow
Debt Burden per Capita $54 $591 down_arrow
City Millage Rate 16.25 mills 16.25 mills cross_arrows
Ad Valorem Taxable Value of Property in the City $479,990,854 $487,085,924 up_arrow
Number of Employees to Citizens Ratio 1 to 220 1 to 182 down_arrow
& of Projected Pension Cost Funded for Non-Police & Fire Pension 64% 69% up_arrow
% of Projected Pension Cost Funded for Police & Fire Pension 87% 86% down_arrow

Economic Strength 2020 2021 Progress
% of Community with Access to High Speed Internet 100% 100% cross_arrows
Vacancy Rate in the Downtown 12.8% 9.9% up_arrow
Total Building Permits 503 511 up_arrow

Public Safety 2020 2021 Progress
Total Violent Crimes  55 53 up_arrow
Total Property Crimes 303 256 up_arrow
Total Traffic Crashes 576 681 down_arrow
Total Structure Fires 8 25 down_arrow

Quality of Life 2020 2021 Progress
Miles of sidewalks and non-motorized trails per mile of City streets 1.20 1.20 cross_arrows
Overall PASER Rating of Roads 6.5 6.6 up_arrow
Acres of Park per Thousand Residents 15.4 18.3 up_arrow
Number Recreation Programs Offered 3 38 up_arrow
Partners Empowering All Kids (PEAK) Summer Enrollment 0 220 up_arrow

LEGEND
up_arrow Performance improving
cross_arrows Performance staying about the same
down_arrow Performance declining






Click here to download a PDF version of the Dashboard

Staff List