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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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.
The City of Shoreview received the Standard & Poor's bond rating of AAA, along with a stable outlook.
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 email@example.com for more information.
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.
"Understanding Your Property Taxes" at www.mntax.org.
View the Community Benchmark to see how Shoreview compares in taxes.
View the Utility Operation & 2013 Utility Rates.