The Finance Department provides financial management and accounting services for all City operations. This includes the daily financial operation of processing accounts payable, accounts receivable, utility billing and risk management. The Department manages the investment of funds, assists in the issuance of bonds and other indebtedness of the City and prepares periodic and annual financial reports. The Department also coordinates the City’s budget process, public improvement financing and financial reporting for grants and economic development.
Each year, the Finance Department prepares the City's Annual Budget for Council consideration and adoption in December. It also issues an Annual Comprehensive Financial Report (ACFR), which provides complete information on the City’s finances. Finance also plays an integral role in preparing the City's Capital Improvement Plan, which spells out future needs for the City to consider.
Standard and Poor's Rating Service has assigned the City of White Bear Lake an AA+ credit rating.