Finance Department Staff
OverviewThe Finance Department provides financial support services to the entire City government organization, Faribault Economic Development Authority, as Faribault Housing and Redevelopment Authority. This includes fiscal management and processing of all accounting transactions pursuant to generally accepted accounting principles. Daily financial operations are comprised of processing accounts payable, accounts receivable, payroll, debt management, special assessments, utility billing, risk management, investments, capital asset recordkeeping and collection of revenues. Finance compiles the Annual Budget, five-year Capital Improvement Plan, Annual Debt Study, Tax Increment Reports and the Comprehensive Annual Financial Report.
The Government Finance Officers Association (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Faribault for twenty consecutive years. In order to be awarded a Certificate of Achievement for Excellence, a government must publish an easily readable and efficiently organized comprehensive annual financial report, and the contents must conform to the program requirements. Such reports must satisfy both generally accepted accounting principles and applicable legal requirements.
Standard & Poor's has assigned Faribault an AA credit rating.
For information on assessing services, property taxes and real estate inquiries, visit the Rice County website.
- 2012 Comprehensive Annual Fincial Report
- 2012finalcomprehensiveannualfinancialreport (PDF) — Large File: 3MB
- Federal Financil Awards Programs
- 2012 Management Letter
- Utility Meter Accuracy Update — 7/17/2013
- Complete information regarding the Utility Meter Accuracy Update and supporting documentation may be found on the City of Faribault website by clicking on the Administration tab under the heading of City Departments and scrolling down to What's New.