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July 2020
ArdenHills
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Arden Hills Notes Newsletter
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2020-2029
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July 2020
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<br /> <br />Special Revenue Funds <br />Special Revenue Funds are used <br />to account for revenues derived <br />from specific taxes or other ear- <br />marked revenue sources. They are <br />required by statute to finance par- <br />ticular functions, activities, or <br />governments. The City of Arden <br />Hills has the following Special <br />Revenue Funds: <br />Cable TV accounts for reve- <br />nue and expenditures related to <br />cable TV, internet and other <br />forms of communication. Reve- <br />nue for this fund comes primari- <br />ly from cable owner franchise <br />fees. <br />EDA Operations accounts for <br />general administration activities <br />that are not specific to any indi- <br />vidual Tax Increment Financing <br />(TIF) District, as well as activi- <br />ties associated with the Eco- <br />nomic Development Commission <br />and Economic Development Au- <br />thority. <br />EDA TIF Districts account for <br />revenues derived from tax in- <br />crements and expenditures for <br />developer reimbursements and <br />administrative expenses. The <br />City had three districts at the <br />end of 2019. <br />Very strong management, with <br />strong financial polices and <br />practices. <br />Very strong budgetary perfor- <br />mance and liquidity. <br />Very strong debt and contin- <br />gent liability position. <br />Strong institutional frame- <br />work. <br />Arden Hills received a “AAA” rat- <br />ing from Standard and Poor’s <br />Global on its 2018 bond issue. <br />This is the highest possible rat- <br />ing you can receive. A high bond <br />rating translates into lower fu- <br />ture borrowing costs. This rating <br />is based on the City’s: <br />Very Strong economy, with <br />access to a broad and diverse <br />metropolitan statistical area. <br />Long Term Debt <br />City of Arden Hills Popular Annual Finance Report Page 3 <br />The goal of the PAFR is to <br />supplement—not replace—the <br />CAFR. <br />Similar to the CAFR, infor- <br />mation in the PAFR conforms <br />to Generally Accepted Ac- <br />counting Principles (GAAP). <br />For more detailed information <br />and copies of the PAFR or <br />CAFR, visit the city’s website <br />at www.cityofardenhills.org. <br />Revenues—$621,074 <br />Expenses—$673,275 <br />Net Position—$332,011 <br />Internal service funds are an <br />accounting device used to <br />accumulate and allocate <br />costs internally among the <br />City’s various functions. The <br />City maintains internal ser- <br />vice funds for risk manage- <br />ment, engineering, central <br />garage and technology. The <br />combined totals for these <br />funds are: <br />Internal Service Funds
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