Finance
Shoreview is financially sound with a strong and growing tax base of high quality residential and commercial development. The Finance Department's primary function is to ensure that all financial transactions of City departments are carried out according to dictates of the State Statutes and principles of sound financial management.
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Biennial Budget and Capital Improvement Program
Shoreview's Operating Budget and Capital Improvement Program (CIP) are presented as a combined document. An executive summary is in the provided introduction section.
Adopted budgets/CIP can be viewed online or at the Shoreview City Hall located at 4600 Victoria Street N. and are also available at the Shoreview Library located at 4570 Victoria Street N. The budget summary serves as the handout for the budget hearing and addresses the topics covered at the hearing. We hope you find the information included in this budget summary helpful in explaining how the City puts your tax dollars to work in our community.
Property Tax Question Handout →
Current Five Year Operating Plan →
Bond Rating
The City of Shoreview received the Standard & Poor's bond rating of AAA, along with a stable outlook.
Financial Reports
The City's Comprehensive Annual Financial Reports are available the following June for review. The report can be viewed online or at the Shoreview City Hall front desk located at 4600 Victoria Street N. Reports are also available at the Shoreview Library located at 4570 Victoria Street N. Call 651.490.4620 or e-mail finance@shoreviewmn.gov for more information.
Annual Financial Report archive →
Comprehensive Infrastructure Replacement Plan
In 1992, the City adopted a formal policy governing asset replacement costs. The Comprehensive Infrastructure Replacement Plan (CHIRP), and the annual plan it requires, is designed to:
- Create a permanent program to address replacement needs
- Address replacement needs well in advance in an effort to protect the condition of the City's assets on behalf of its citizens and business owners
- Estimate the impact of replacement needs on user fees, tax levies and cash balances
- Require consideration of future replacement costs when establishing current tax levies and user fees
- Strategically plan for any new debt
- Avoid special assessing property owners twice for the same improvement
- Maintain healthy financial conditions
The CHIRP is a planning document, and does not authorize any of the projects included in the plan. Approvals for any project or capital expenditure are subject to the same purchasing requirements as outlined in state statutes, and the City's purchasing policy. A summary of policy requirements is provided on page 11 of the report.
The city has received national recognition for the city's Comprehensive Infrastructure Replacement Plan.
Current Comprehensive Infrastructure Replacement Plan →
Comprehensive Infrastructure Replacement Plan archive →
Budget Resources
"Understanding Your Property Taxes" at www.mntax.org.
View Shoreview tax information →
View the Community Benchmark to see how Shoreview compares in taxes.
View the Utility Operation & 2013 Utility Rates.
Contact Information
Finance Department
651.490.4620