The Popular Annual Financial Report (PAFR), published every June under the title, "Corporate Report to the Community," is a brief summary of the City's Comprehensive Annual Financial Report (Annual Report). The report is intended to increase the general public's understanding of Bloomington's financial condition.
Fiscal Year 2021
This document presents the City’s approved 2021 budget, and includes budget summaries for all funds, working capital goals, debt and capital overviews and operating program details. Background information used to develop the budget and to describe its impact and corresponding levies are included in the introduction to provide a more complete understanding. To determine the current levy and to consider the City’s long-term financial stability, 5-, 10- and 15-year budget models were used.
The Capital Improvement Plan (CIP) constitutes the capital improvement plan of the City of Bloomington (City). It is a planning tool based on long-range physical planning and financial projections that forecast the City, the Bloomington Port Authority (Port), and Housing and Redevelopment Authority for the City of Bloomington (HRA) capital needs over a ten-year period as building blocks to help achieve the City's strategic vision and mission. The CIP includes a detailed description of every Capital Project anticipated to be initiated during the ten-year period.
The CIP document is approved annually but projects are tracked and updated on a quarterly basis. To view the most recent updates, visit our dedicated CIP page at blm.mn/CIP.
The Comprehensive Annual Financial Report (Annual Report) of the City of Bloomington for the fiscal year ending December 31, 2020 is available. The purpose of this report is to provide the Mayor, City Council, City staff, citizens, bondholders, and other interested parties with useful information concerning the City’s operations and financial position.
The City's report includes detailed notes and financial schedules for both of the City's component units: Port Authority and the Housing and Redevelopment Authority (HRA).
The City of Bloomington participates in the Performance Measurement Program through the State Auditor's office. This voluntary program requires cities and counties to adopt ten selected measures that will be used to manage operations and reported to citizens and property taxpayers.
On August 28, 2020, City staff submitted the Green Bond Report for the City of Bloomington for the Penn-American Stormwater Storage Project to the Electronic Municipal Market Access (EMMA) system. In 2018, the City issued its first Green Bond and became the 4th community in the State of Minnesota to issue Green Bonds. The $11,650,000 General Obligation Storm Water Utility Bonds, Series 2018D financed the Penn-American Linear Storm Water Storage Project designed to serve the flood-prone area immediately southwest of the I-35W & I-494 interchange. This specific high impact project was selected for its ability to provide multiple environmental sustainability benefits such as mitigating flood risk and improving surface water quality.
On September 1, 2020 City staff submitted the Voluntary Disclosure regarding Impacts of the Coronavirus (COVID-19) Pandemic to the Electronic Municipal Market Access (EMMA) system. The purpose of this voluntary notice is to provide an overview of information that may affect the City and to describe the actions being considered and underway as a result of the Coronavirus (COVID-19) pandemic. The City does not anticipate that any of the information or potential impacts discussed in the disclosure will affect its ability to pay debt service on its outstanding debt obligations.
Government Finance Officers Association of the United States and Canada (GFOA) Awards
GFOA Distinguished Budget Presentation Award
As of August 2021, the City of Bloomington has been the recipient of the Distinguished Budget Presentation Award for 26 years. The award represents a significant achievement, reflecting the Finance Department's commitment to meeting the highest principles of governmental budgeting.
GFOA Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report (Annual Report)
As of March 2021, the City of Bloomington has been the recipient of the Certificate of Achievement for Excellence in Financial Reporting for the Comprehensive Annual Financial Report for 49 years, longer than any other Minnesota city. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
GFOA Award for Outstanding Achievement in Popular Annual Financial Reporting (PAFR)