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cityofArdenHills.org • J uly 2022 • 9
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<br />
<br />Residents receive a variety of City ser-
<br />vices at an affordable price. The cost of
<br />City services in 2021 for the owner of a
<br />single-family home in Arden Hills with an
<br />assessor’s market value of $387,500 was
<br />$80.52 per month.
<br />The checkbook shows how the monthly
<br />cost of property tax-supported services
<br />was divided among City departments.
<br />Permanent Improvement Revolving Fund: The Pavement Management Pro-
<br />gram (PMP) identifies, inventories, and tracks street conditions to ensure that mainte-
<br />nance is completed at the appropriate time. The results are prolonged pavement life
<br />and reduced costs to property owners. The PMP was initiated to ensure a maintenance
<br />program for Arden Hills’ aging streets. The most recent 2021 PMP area included four
<br />streets in the Hazelnut Park neighborhood. Year end fund balance was $4,990,120.
<br />Public Safety Projects: This fund accounts for the City’s share of capital equip-
<br />ment costs for police and fire. Year end fund balance was $173,067.
<br />Equipment/Building Maintenance & Repair: City equipment and buildings are
<br />monitored regularly and replaced/repaired when needed. Transfers are made from
<br />various funds to fund these expenditures. Year end fund balance was $261,891.
<br />Parks: This fund was established for park/trail acquisition, maintenance and
<br />development. Revenue for this fund comes from developer park dedication fees, con-
<br />tributions, state grants and investment interest. Year end fund balance was $565,169.
<br />Enterprise Funds
<br />City of Arden Hills Popular Annual Finance Report
<br />Capital Funds
<br />Check Register
<br /> Description of Transaction Balance
<br />PPuubblliicc SSaaffeettyy $$ 3344..5500
<br />GGeenneerraall GGoovveerrnnmmeenntt $$ 1166..5522
<br />PPaarrkkss aanndd RReeccrreeaattiioonn $$ 1111..5599
<br />PPuubblliicc WWoorrkkss $$ 1100..6611
<br />CCaappiittaall //EEDDAA $$ 77..3300
<br />About this Report
<br />The City of Arden Hills
<br />reports financial year-
<br />end results in the Annual
<br />Comprehensive Financial
<br />Report (Annual Report).
<br />The Popular Annual
<br />Financial Report (PAFR)
<br />is an unaudited report
<br />that summarizes the
<br />most significant data
<br />from the Annual Report,
<br />and is consistent with
<br />Generally Accepted
<br />Accounting Principles.
<br />For a complete review of
<br />the City’s financial
<br />position for 2021, consult
<br />the 2021 Annual Report
<br />available on the City’s
<br />website at
<br />www.cityofardenhills.org,
<br />or from the Finance
<br />Department at
<br />651.792.7800.
<br />80.52
<br />January 1, 2021
<br />Homeowner
<br />City Of Arden Hills
<br />Eighty dollars and 52/100——————————
<br />MONTHLY police, fire, street
<br />Homeowner
<br /> YOUR BANK
<br />Cost of City Services
<br />The Enterprise Funds are run like a business in that they rely on fees and charges for
<br />revenue to cover expenses. These funds consist of utility services provided to the com-
<br />munity by the City such as water, sewer, surface water and recycling. A rate study was
<br />completed in 2018 and projected infrastructure improvements will require annual user
<br />rate increases for the foreseeable future. User rates are evaluated each year during
<br />the budget cycle.
<br />Based on an average usage of 4,800 gallons per month, the 2021 monthly cost of utili-
<br />ties for a home in Arden Hills was $88.21 (Arden Hills bills on a quarterly basis).
<br /> Revenues Expenses
<br />Water 3,611,682 2,266,362
<br />Sewer 2,305,499 1,880,753
<br />Surface Water 900,332 673,084
<br />Recycling 202,811 154,611
<br /> 7,020,324 4,974,810
<br />
<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 recurring
<br />Special 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 2021.
<br />The City also established an
<br />American Rescue Plan Act Fund to
<br />administer the ARP funds and a
<br />Karth Lake Improvement District
<br />Fund to manage a pump replace-
<br />ment project. These are short-
<br />term funds.
<br /> Very Strong economy, with
<br />access to a broad and diverse
<br />metropolitan statistical area.
<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. It shows
<br />that the City is able to meet its
<br />financial commitments and has
<br />the lowest risk of default. This
<br />rating is based on the City’s:
<br />Long Term Debt
<br />City of Arden Hills Popular Annual Finance Report
<br />The goal of the PAFR is to sup-
<br />plement—not replace—the An-
<br />nual Report.
<br />Similar to the Annual Report,
<br />information in the PAFR con-
<br />forms to Generally Accepted Ac-
<br />counting Principles (GAAP). For
<br />more detailed information and
<br />copies of the PAFR or Annual
<br />Report, visit the city’s website
<br />at .
<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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