Department Director


The 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.

Finance Reports

2014 Comprehensive Annual Financial Report
The 2014 Comprehensive Annual Financial Report for the City of Faribault.

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