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Audited Financial Report - June 2020
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.
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.
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.
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).
- CAFR - Fiscal Year 2019
- 2019 Special Purpose Audit Reports
- CAFR - Fiscal Year 2018
- CAFR - Fiscal Year 2017
- CAFR - Fiscal Year 2016
- CAFR - Fiscal Year 2015
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.
Government Finance Officers Association of the United States and Canada (GFOA) Awards
GFOA Distinguished Budget Presentation Award
As of September of 2019, the City of Bloomington has been the recipient of the Distinguished Budget Presentation Award for 24 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.