The Finance Division employs accountants, billing clerks and support staff. It is responsible for:
- Ensuring the short- and long-term financial stability of the city by maintaining financial records, managing a $70 million investment portfolio and addressing risk management issues.
- Processing payroll and vendor claims.
- Billing 13,500 utility customers for water/sewer and refuse collection services.
In June 2017, Independent bond-rating agency Standard and Poor’s (S&P) affirmed their AAA credit rating — the highest bond rating — for the City of St. Louis Park. St. Louis Park is one of 22 Minnesota cities with the AAA rating from S&P.
S&P's rating report reflects the agencies’ view of the many factors that contribute to St. Louis Park’s high rating, including a very strong economy; management; budgetary performance; budgetary flexibility; and strong liquidity, debt and contingent liability position
The highest bond rating helps to ensure that future St. Louis Park debt will be issued at the lowest possible interest expense and cost to the tax payers. The rating also provides opportunities to refinance outstanding debt at lower interest rates.