Finance

Responsibilities

The Finance Department provides accounting and control services for all financial activities of the City, the Housing and Redevelopment Authority (HRA), the South Metro Public Safety Training Facility, and other auxiliary organizations.

City Budget

Edina budgets on a two-year cycle. The Budget in Brief is a few pages excerpted from the overall budget that provides an easy-to-understand summary of Edina's revenue and spending.

The following detailed budget documents are about 200 pages and include summaries, charts and explanations of the city's goals, budget process and spending.

Capital Improvement Plans (CIP)

These five-year plans detail infrastructure projects or purchases and funding sources including for roads and bridges, trails and sidewalks, water and sewer, vehicle equipment and replacement, technology upgrades and building projects.

Note these documents vary in size from 176 pages to almost 400 pages.

Comprehensive Annual Financial Reports

The Comprehensive Annual Finance Report contains financial statements required each year under state law. The financial statements are independently audited.

Note these files average around 140 pages.

Popular Annual Financial Reports

These reports convey financial information in ways that most people can easily understand. Edina produces this Popular Annual Financial Report each year as part of an issue of Edition: Edina. Translated versions in Somali and Spanish began with the 2020 PAFR.

Quarterly Financial Reports

These shorter reports provide updates on revenue, spending, investments and debt.

Bond Rating

Aaa: Moody's Investor Service (highest rating)

AAA: Standard and Poor (highest rating)

These excellent bond ratings ensure that future Edina debt will be issued with the lowest possible interest expense and cost to the taxpayer.