City Budget & Financial Reports

View 2024 Budget and Capital Improvement Plan


Budget Process

Development of the City's budget begins each spring as a joint process involving the City Council, City Administrator, Finance Director and the department heads.  A budget calendar is developed to provide adequate time for a thorough review of the proposed budget. Input from the public is an important part of the budget process; to learn about participating, please call 651-730-2817.

The following are key dates in the 2024 budget process:

  • City Council conducts goal setting in spring
  • City staff prepare budgets from May through July
  • Budget workshops are held in August and September
  • City Council adopts proposed 2024 levy on September 12
  • Proposed 2024 tax levy is certified to Washington County by September 30
  • Washington County sends proposed property taxes and meeting dates to discuss (formerly Truth-in-Taxation hearing) between November 11 and November 24
  • City Council holds the Truth-In-Taxation meeting on December 12, after which the City Council considers the adoption of the final levy and budget for 2024
  • Final tax levy is certified to Washington County by December 28

Core Fiscal Principles

  • Budget decisions to consider and acknowledge both the short and long-term impacts
  • Stabilize revenues and expenditures, and eliminate unanticipated variances 
  • Fund operations at a level to provide quality services at a reasonable cost 
  • Maintain structural balance and appropriate fund balance levels 
  • Consider additional investments when they help achieve City goals and provide a significant return to the community 
  • Seek to make a connection between resources and results 

2024 Budget Information

2024 Truth-In-Taxation Presentation

2024 Budget Outcomes

  • Investment in City-Operated Policing
    • Funding for three new licensed officers; increasing total licensed officer count to 38
    • Two new squad vehicles to be deployed to patrol division; one new unmarked command unit
    • Continued utilization of body worn cameras and cloud based evidence management 
    • Services to ensure public safety policies are consistent with legislation, case law, and Minnesota POST requirements 
  • Commitment to Full Career-Modeled Fire Department
    • In 2023 the City transitioned to a full-time career staffing model
    • Only 2.8% of Minnesota’s 725 licensed Fire Departments have achieved this distinction
    • 24/7 staffing at both Fire Stations; fully equipped to respond from both locations
  •  Investment in City Facilities, Equipment, Trails, Open Spaces, and Parks 
    • Funding for additional Public Works maintenance position
    • Internally funding all vehicles and equipment; eliminate need for equipment certificate debt
    • Annual replacement of one existing park playground structure
    • Planning for two parks, walking paths, and open space at the Willowbrooke development • 
  • Increased Support for a Growing City
    • New funding for an Assistant City Administrator, last filled in 2017
    • Software improvements to modernize resident reporting of non-emergency community issues; City Code book; Recreation management; and employee performance management 
  • Reducing debt levy for fourth consecutive year and to lowest level since 2017

 

2024 Levy and Assessment Highlights

  • Total City-wide assessed property values up 12.6% from 2023 
    • Apartment classification with largest increase at 30.1%  
  • Estimated median valued residential property is $343,300; up 9.0%
    • Values established January of year prior to taxes payable 
    • Washington County provides assessor services for Oakdale 
  • Median residential property value increased 118.2% since 2013 
    • Second largest increase in Washington County among ten most populous cities during this time span, predominantly due to property appreciation 
  • Preliminary City tax rate decrease of 0.697% from 2023 
  • Proposed 2024 levy is a 12.45% increase from 2023 
    • This includes General Fund, Debt Service, and Capital Project Funds

 

Assessing Responsibility and Process

  • The Washington County Assessor’s Office is responsible for establishing the market value and determining classification (use) of property located within Washington County. The Assessor’s Office also maintains the county’s property database and is the primary source of property information for interdepartmental and community use.
  • Minnesota statutes establish specific requirements for the assessment of property. The law requires that all real property be valued at market value, which is defined as the usual or most likely selling price as of the January 2 assessment date. 
  • The estimated market values established through the 2023 assessment are based upon actual real estate market trends of Washington County properties from October 1, 2021 through September 30, 2022. The 2023 assessed values are then used to calculate taxes payable for 2024. 
  • If you have questions, you can contact the County Assessor’s Office at 651-430-6175 between the hours of 8 AM to 4:30 PM and your call will be directed to the appraiser responsible for your property.
  • Additional information can be found on the Washington County Assessor’s Office website.


Annual Comprehensive Financial Report

The Annual Comprehensive Financial Report (ACFR) of the City of Oakdale for the fiscal year ending December 31, 2022 is available. The report is prepared in accordance with prescribed standards, and includes an introduction, a complete financial report, an independent auditor’s evaluation and financial statistics. The report’s financial section includes management’s discussion and analysis, basic financial statements and required supplementary information. The statistical section includes select financial and demographic information, typically presented on a multi-year basis. The purpose of this report is to provide the Mayor, City Council, City staff, citizens, bondholders, and other interested parties with useful information concerning the City’s operations and financial position.

For the fiscal year ending December 31, 2021, the Oakdale Finance Department received the Certificate of Achievement for Excellence in Financial Reporting. The certificate, awarded by the Government Finance Officers Association of the United States and Canada, is the highest form of recognition in the area of governmental accounting and financial reporting. The City has earned this award for 32 consecutive years.