City Budget & Financial Reports

2026 Budget and Capital Improvement Plan


2026 Budget Information

2026 Budget Outcomes

  • Public Safety – Commitment to City Policing and Community Involvement while Ensuring an Optimum State of Readiness
    • Continue funding public safety (Lexipol) software that is consistent with legislation, case law, best practice, and MN POST requirements
    • Four new police vehicles
    • Full-year funding for the Fire Marshal position
    • Transition to contracted prosecution services
    • New Coordinated Behavioral Response Team to include a social worker and new police officer

 

  • Investment in City Facilities, Equipment, Trails, Open Spaces, and Parks
    • Internal funding for vehicles and equipment to avoid debt
    • Reconditioning of Water Tower 4
    • Development of Helmo Station Park and playground replacements at Tanners, Tower, and Golfview Parks
    • Trail and open space improvements at Willowbrooke
    • Ongoing street reconstruction and overlay projects
    • Police Department expansion and City Hall renovation 

 

2026 Proposed Levy and Assessment Highlights

  • Per the 2025 Assessor’s Report, city-wide assessed property values went up 3.84% from 2024’s report
    • Apartment value increase of 20.34%
    • Residential value increase of 2.36%

 

  • Per Washington County Assessor, the estimated median valued residential property in Oakdale is $346,200; up 0.8% from the previous year.
    • Values established in January of year prior to taxes payable
    • Washington County provides assessor services for Oakdale
    • Median residential property value in Oakdale has increased 76.18% since 2015, predominantly due to property appreciation

 

  • Proposed city tax rate increase from 41.396% for 2025 to estimated 42.115% for 2026
    • Median valued residential property estimated City share of property taxes to increase $35.79/year or $2.98/month for 2026

 

  • Proposed 2026 levy is a 6.2% increase from 2025
    • This includes levy increases of 10.3% for the General Fund, and levy decreases of 18.3% for Debt Service, and 0.6% for Capital Projects


Budget Process

Development of the City's budget begins each spring as a joint process involving the City Council, City Administrator, Finance staff and the department heads.  A budget calendar is developed to provide adequate time for a thorough review of the proposed budget. 

The following are key dates in the 2026 budget process:

  • City Council conducts goal setting in Spring
  • City staff prepare budgets May through July
  • Budget workshops held June-September
  • City Council adopts proposed 2026 levy on September 9
  • Proposed 2026 tax levy certified to Washington County by September 30
  • Washington County distributes proposed property taxes and meeting dates to residents (formerly Truth-in-Taxation hearing) between November 10 and November 24
  • City Council holds the Truth-In-Taxation meeting on December 9, after which the City Council considers the adoption of the final tax levy and budget for 2026
  • Final tax levy is certified to Washington County by December 29

 

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 

To learn more about the budget process, please contact the Finance Director at 651-730-2719.


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 2025 assessment are based upon actual real estate market trends of Washington County properties from October 1, 2023 through September 30, 2024. The 2025 assessed values are then used to calculate taxes payable for 2026. 
  • 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, 2024 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, 2023, 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.

The City of Oakdale was recognized by the Government Finance Officers Association (GFOA) with the Distinguished Budget Presentation Award for its 2025 budget. The award reflects the commitment of Oakdale's governing body and staff to meet the highest principles of governmental budgeting. In order to receive the budget award, an entity must satisfy nationally-recognized guidelines for effective budget presentation.