|
Residents receive a variety of City services at an affordable price. The cost of City services in 2014
<br />for the owner of a single-family home in Arden Hills with an assessor’s market value of $264,700
<br />was $59.11 per month. Utilities remain competitively priced in 2014. The value received from City
<br /> services compared favorably to charges of
<br /> other monthly bills.
<br />Property Tax-Supported Services
<br />The checkbook shows how the monthly
<br />cost of property tax-supported services was
<br />divided among City departments.
<br />Monthly Cost of Utilities
<br />Based on an average usage of 4,800 gallons
<br />per month, monthly cost of utilities for a
<br />home in Arden Hills was $58.92 in 2014
<br />(Arden Hills bills on a quarterly basis).
<br />These services include water, sewer, storm
<br />water, and recycling.
<br />Capital Fund
<br />Check Register
<br />Description of Transaction Balance
<br />Public Safety Public Safety Public Safety Public Safety $24.72$24.72 $24.72$24.72
<br />Community ServicesCommunity ServicesCommunity ServicesCommunity Services $14.31$14.31 $14.31$14.31
<br />Parks and Recreation Parks and Recreation Parks and Recreation Parks and Recreation $8.77$8.77 $8.77$8.77
<br />Public WorksPublic WorksPublic WorksPublic Works $10.74$10.74 $10.74$10.74
<br />Capital Capital Capital Capital $ 0.00$ 0.00 $ 0.00$ 0.00
<br />Reserves Reserves Reserves Reserves $ 0.0.0$ 0.0.0 $ 0.0.0$ 0.0.0
<br />About this Report
<br />The City of Arden Hills re-
<br />ports financial year-end results
<br />in the Comprehensive Annual
<br />Financial Report (CAFR). The
<br />Popular Annual Financial Re-
<br />port (PAFR) is an unaudited
<br />report that summarizes the
<br />most significant data from the
<br />2014 CAFR, and is consistent
<br />with Generally Accepted Ac-
<br />counting Principles. The re-
<br />port reflects the net tax cost
<br />by service expenditure, devel-
<br />oped by crediting related reve-
<br />nues against appropriate ex-
<br />penditures and allocating local
<br />taxes against the remaining
<br />balance.
<br />For a complete review of the
<br />City’s financial position for
<br />2014, consult the 2014 CAFR
<br />available on the City’s website
<br />at www.cityofardenhills.org,
<br />or from the Finance Depart-
<br />ment at 651.792.7816.
<br />
<br />These funds consist of utility
<br />services provided to the com-
<br />munity by the City such as
<br />water, sewer, surface water
<br />and recycling. A comprehen-
<br />sive rate study was completed
<br />in 2008. As a result of that
<br />study, the City changed to a
<br />tiered rate system effective
<br />2009. Rates were also re-
<br />viewed and updated in 2012.
<br />Enterprise Fund
<br />How Tax Dollars Buy City Services
<br />Equipment/Building
<br />Maintenance & Repair
<br />City equipment and buildings are monitored
<br />regularly and replaced/repaired when needed.
<br />Transfers are made from various funds to fund
<br />these expenditures.
<br />Transfer from General &
<br />Enterprise Funds — $280,765
<br />Expenses — $317,588
<br />Parks
<br />This fund was established for park/trail acqui-
<br />sition and development. Revenue for this
<br />fund comes from developer park dedication
<br />fees, contributions, state grants and investment
<br />interest.
<br />Revenues — $0
<br />Expenses — $18,883
<br />58.53
<br />January 1, 2015
<br />Homeowner
<br />City Of Arden Hills
<br />Fifty Five and 58/100————————————————
<br />MONTHLY police, fire, street
<br />maintenance, parks, programs etc.
<br />Homeowner
<br />City of Arden Hills, MN
<br /> YOUR BANK
<br />Arden Hills Ranked Well Against Surrounding Areas
<br />Your tax dol-
<br />lar is divided
<br />up into sev-
<br />eral govern-
<br />mental enti-
<br />ties. Arden
<br />Hills
<br />collects 21
<br />cents of every tax
<br />dollar for City services. The
<br />remaining portions are divided among
<br />Ramsey County, the school district and other agencies.
<br />Area Tax Rates 1
<br />Dividing Up Your
<br />Tax Dollar 1
<br />General Fund 2
<br />Internal Service
<br />Funds 3
<br />Long-Term Debt 3
<br />Special Revenue
<br />Funds 3
<br />Capital Fund 4
<br />Enterprise Funds 4
<br />Monthly Bill 4
<br />Inside this issue:
<br />Popular Annual Financial Report
<br />To The Community
<br />For the fiscal year ended December 31, 2014
<br />In a 2014 comparison of
<br />nine communities in and
<br />around Ramsey County,
<br />the average cost of ser-
<br />vices on a $264,700
<br />homestead in terms of
<br />property taxes and prop-
<br />erty tax aids showed
<br />Arden Hills ranking as
<br />one of the lowest. A
<br />$264,700 homestead in
<br />Arden Hills paid $58.53
<br />per month in property
<br />taxes to the City.
<br />Tax Rate Comparison
<br />Dividing Up Your Property Tax Dollar
<br /> City of Arden Hills, Minnesota Page 1
<br />7¢ Other agencies
<br />49¢ Ramsey County
<br />21¢ City of Arden Hills
<br />23¢ School District
<br />•The General Fund accounts
<br />for revenues and expenses that
<br />provide for basic operations of the
<br />City, i.e., police and fire protec-
<br />tion and street maintenance.
<br />•Special Revenue Funds ac-
<br />count for activities restricted to
<br />specific purposes like economic
<br />development.
<br />•Debt Service Funds track
<br />revenues and expenses related
<br />to repayment of long term debt.
<br />•The Capital Fund collects
<br />revenues from special assess-
<br />ments, state, and county aids
<br />and allots them toward construc-
<br />tion or major capital expenses.
<br />•Enterprise Funds account for
<br />activities that operate as public enter-
<br />prises which are paid for by user
<br />fees, i.e., water, recycling, sewer
<br />and surface water management.
<br />•Internal Service Funds ac-
<br />count for the acquisition, opera-
<br />tion, and maintenance of gov-
<br />ernmental facilities and services,
<br />which are entirely or predomi-
<br />nately self-supporting by user
<br />charges.
<br />August 2015
<br />The City of Arden Hills presents its Popular Annual Financial Report [PAFR]. The purpose of
<br />this report is to inform the community of the City’s financial activity in a simple, easy-to-read for-
<br />mat for the fiscal year ending December 31, 2014. These highlights are based upon the City’s
<br />Comprehensive Annual Financial Report [CAFR] which is a more inclusive, audited document.
<br />Making Cents
<br />In order for Arden Hills to manage the community finances smoothly,
<br />it divides various activities into several different funds.
<br />
<br />Arden Hills’ Six Basic Fund Types
<br />Pavement Management Plan
<br />The City has a successful program for main-
<br />taining the life of Arden Hills’ streets. The
<br />Pavement Management Program (PMP) iden-
<br />tifies, inventories, and tracks street conditions
<br />to ensure that the proper maintenance is done
<br />at the appropriate time. The results are pro-
<br />longed pavement life and reduced overall costs
<br />to property owners. The PMP was initiated to
<br />insure a good maintenance program for Arden
<br />Hills’ aging streets. The 2014 PMP area in-
<br />cluded: Round Lake Road
<br />Revenues (Assessment, State Aid & Interest)
<br />— $1,883,589
<br />Expenses — $1,515,947
<br />Public Safety Projects
<br />This fund accounts for the City’s share of capi-
<br />tal equipment costs for police and fire.
<br />Revenues (Donations & Interest) — $37,742
<br />Expenses — $66,079
|