Financial reports

Popular Annual Financial Report

Fiscal Year Ending 2019

 
2020cover
 

Popular Annual Report (Corporate Report to the Community)

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 (CAFR). The report is intended to increase the general public's understanding of Bloomington's financial condition.

Annual Budget

 

Fiscal Year 2020


The 2020 Budget theme is "A bridge to the future: Building a community of choice." In 2020, Bloomington’s Old Cedar Avenue Bridge will turn 100. While not a century old, much of Bloomington’s infrastructure was built in the ’50s.  It takes time, effort and resources to maintain a fully developed city. Keeping our foundation strong gives us the ability to look forward and consider the best ways to invest in our future. How do we continue to make Bloomington a place people choose to be?

Examples of our efforts can be found throughout the pages of this document, which presents the City’s approved 2020 budget.

Budget book cover

Annual Budget Book - Fiscal Year 2020

PDF icon Annual Budget Book - Fiscal Year 2019

Annual Budget Book - Fiscal Year 2018


 

PDF icon Annual Budget Book - Fiscal Year 2017

PDF icon Annual Budget Book - Fiscal Year 2016

Capital Improvement Plan (CIP)

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 2020-2029 Capital Improvement Plan (CIP)  was adopted by the City Council after a Public Hearing on April 20, 2020. Due to the economic downturn brought on by the COVID-19 pandemic, projects scheduled for 2020 are being re-evaluated. To view the most recent updates, visit our dedicated CIP page at blm.mn/CIP.

Link to 2020 CIP

2020-2029 Capital Improvement Plan (CIP)

PDF icon 2019-2028 Capital Improvement Plan (CIP)

2018-2027 Capital Improvement Plan (CIP)

PDF icon 2017-2021 Capital Improvement Plan (CIP)

PDF icon 2016-2020 Capital Improvement Plan (CIP)

PDF icon 2015-2019 Capital Improvement Plan (CIP)

Comprehensive Annual Financial Report (CAFR)

CAFR_2019

Fiscal Year 2019

 
 

The Comprehensive Annual Financial Report (CAFR) of the City of Bloomington for the fiscal year ending December 31, 2019 is available for viewing. 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). 

General Fund Monthly Report

Report on Performance Measures for 2019

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. 

Financial disclosures

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.

Finance awards

Government Finance Officers Association of the United States and Canada (GFOA) Awards

GFOA Distinguished Budget Presentation Award 

As of September 2020, the City of Bloomington has been the recipient of the Distinguished Budget Presentation Award for 25 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 (CAFR)

As of March 2020, 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 48 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)

As of March 2020, the City of Bloomington has been the recipient of the Award for Outstanding Achievement in Popular Annual Financial Reporting for 21 years. This award is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports.