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, accounts receivable, coordinating information technology functions, coordinating the annual audit, and preparing the Comprehensive Annual Financial Report (CAFR).471.701 – Salary Data. Minnesota State Law requires that “a city or county with a population of more than 15,000 must annually notify its residents of the positions and base salaries of its three highest-paid employees.” For the City of Ham Lake, titles and salaries as of January 1, 2024 are: City Administrator - $136,303 Public Works Superintendent - $112,882 Fire Chief - $112,882
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.
Moody's Investors Service reviewed the City's finances in 2017 and upgraded the City's bond rating from Aa2 to Aa1. S&P Global Ratings reviewed the City’s finances in early 2018 and assigned a rating of AA+. These high-grade ratings reflect the City’s strong economy and very strong financial position.