The Finance Department is responsible for managing the financial operations of the City. This includes maintaining accounting records for the general fund, the special revenue funds, the debt service funds, and the capital project funds; managing cash investments; preparing the budget and monitoring revenues and expenditures for budgetary compliance; processing payroll, accounts payable, and accounts receivable; coordinating information technology functions; coordinating the annual audit and preparing the Comprehensive Annual Financial Report (CAFR).
Certificate of Achievement for Excellence in Financial Reporting
The City of Ham Lake has earned the Certificate of Achievement for Excellence in Financial Reporting each year since 2006. This award is presented by the Government Finance Officers Association to government units whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. Certificate of Achievement for Excellence in Financial Reporting.
On July 15, 2010, Moody’s Investors Service reviewed the City’s finances and assigned a rating of Aa2 to the City of Ham Lake. This excellent credit rating was assigned based on the City’s history of sound financial management, supported by solid reserve levels and low debt burden.