Financial reports

The Coronavirus State and Local Fiscal Recovery Funds (SLFRF), a part of the American Rescue Plan (ARP) Act, delivers $350 billion to state, local, and Tribal governments across the country to support their response to and recovery from the COVID-19 public health emergency. The program ensures that governments have the resources needed to: Fight the pandemic and support families and businesses struggling with its public health and economic impacts; maintain vital public services, even amid declines in revenue; and build a strong, resilient, and equitable recovery by making investments that support long-term growth and opportunity.

The general timeline for this funding outlines that the funds must be used for costs incurred on or after March 3, 2021, the funds must be obligated by December 31, 2024, and finally, expended by December 31, 2026.

The total ARP amount allotted to the City was $11,396,081. Half of the total amount was received in 2021 and the remaining half was received in 2022. For 2020, estimated revenue loss for the City of Bloomington due to Covid-19 Public Health Emergency as of December 31, 2020 was $22,072,969.

Please visit the Federal Treasury website to learn more about the ARP Act including early program implementation and final rules.

The below tables represent cumulative spending from March 2021 through December 2025.

Allocation of expenses based on ARP fund usage/obligations

Government services

Investment in infrastructure

Negative economic impact

Purpose of This Page

Beginning July 1, 2025, Minnesota state grant agreements must include language that directs grantees to clearly post on their website the names and contact information for the organization’s leadership and the employee (or other person) who manages and oversees each state grant. This page fulfills that requirement for the City of Bloomington, Minnesota.

• Statutory reference: Minn. Stat. 16B.98, subd. 5(d). See the statutory change https://www.revisor.mn.gov/laws/2025/0/39/laws.2.40.0#laws.2.40.0
• According to the Minnesota Department of Administration, this requirement applies to state grant agreements executed on or after July 1, 2025, unless the grant resulted from an RFP posted before that date.
• The Department of Administration and the Department of Revenue have updated their policies to reflect this change. See [OGM Policy 08-04 FAQ] OGM Policy 08-04 FAQ

Maintaining Compliance

To meet the requirements of Minn. Stat. 16B.98, subd. 5(d), the City of Bloomington will:

• Publish and maintain this webpage linked from the City’s Finance Reporting Page.
• List leadership names, titles, and contact information.
• Document effective dates and ensure that only applicable grants (executed on or after July 1, 2025) are included.

Active State Grant Agreements

City Leadership – City Manager’s Office, Legal, and Finance

• Zach Walker, City Manager zwalker@bloomingtonmn.gov
• Kathy Hedin, Deputy City Manager khedin@bloomingtonmn.gov
• Elizabeth Tolzmann, Deputy City Manager etolzmann@bloomingtonmn.gov
• Lori Economy‑Scholler, Chief Financial Officer leconomy@bloomingtonmn.gov
• Melissa Manderschied, City Attorney mmanderschied@bloomingtonmn.gov

Grant Oversight Contacts

Kari Carlson - Deputy Finance Officer kcarlson@bloomingtonmn.gov is the contact person for each state grant administered by the City.

last updated 2/2/2026

As of February 2026, the City of Bloomington has been the recipient of the Certificate of Achievement for Excellence in Financial Reporting for the Annual Comprehensive Financial Report for 54 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.

In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized annual comprehensive financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current annual comprehensive financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to GFOA to determine its eligibility for another certificate.

As of May 2025, the City of Bloomington has been the recipient of the Distinguished Budget Presentation Award for 30 years. The award represents a significant achievement, reflecting the Finance Department's commitment to meeting the highest principles of governmental budgeting. 

As of May 2025, the City of Bloomington has been the recipient of the Award for Outstanding Achievement in Popular Annual Financial Reporting for 26 years. This is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports.

The GFOA requires that financial information used in the PAFR come from the Annual Comprehensive Financial Report. To receive this award, a government unit must publish a Popular Annual Financial Report whose contents conform to program standards of creativity, presentation, understandability, and reader appeal.

• 2023 Annual Comprehensive Financial Report
• 2022 Annual Comprehensive Financial Report
• 2021 Annual Comprehensive Financial Report

Green bond report 2020

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.

• Green Bond Report 08-28-2020

Voluntary COVID disclosure 2020

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.

• Voluntary COVID Disclosure 09-01-2020