Financial Reports

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Annual Financial Reports

The Finance Department publishes two major financial reports annually: the Comprehensive Annual Financial Report and the Popular Annual Financial Report. The fiscal year for all government organizations is July 1 through June 30. 

Comprehensive Annual Financial Report

The Comprehensive Annual Financial Report (CAFR) is audited by a firm of licensed certified public accountants and presents the financial statements of the City in conformance with generally accepted accounting principles (GAAP).

For the past 15 years, the City has received the Certificate of Achievement for Excellence in Financial Reporting presented by the Government Finance Officers Association.

Popular Annual Financial Report

The Popular Annual Financial Report (PAFR) presents the financial operations of the City in a user-friendly format. 

While the information in the Popular Annual Financial Report is derived from the audited data presented in the CAFR, the PAFR focuses on the government-wide financial statements only and does not include all funds or components of the City. For complete details, please review the CAFR available above. 

More information

State law requires that all general purpose local governments publish a complete set of financial statements within nine months of the close of each fiscal year. The Comprehensive Annual Financial Report (CAFR), must be presented in conformity with accounting principles generally accepted in the United States of America and audited in accordance with auditing standards accepted in the United States of America by a firm of licensed certified public accountants or by the State Auditor's Office.

Copies of the reports from recent years are available through our website or upon request by phone at 515-965-6400.

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