Financial Reports
Overview
The Comprehensive Annual Financial Report (CAFR) is prepared in accordance with Generally Accepted Accounting Principles (GAAP) promulgated by the Governmental Accounting Standards Board (GASB).
The Finance Department prepares the Comprehensive Annual Financial Report and also assumes responsibility for the accuracy of the data and the completeness and fairness of the presentation and all disclosures. The CAFR is organized into three sections:
- The Introductory Section includes the table of contents, letter of transmittal, listing of elected officials and City administrative personnel, organization chart, and location map.
- The Financial Section includes the independent auditors’ opinion, management’s discussion and analysis, the basic financial statements, notes to the financial statements, combining statements of non-major funds, and required supplemental information.
- The Statistical Section includes both financial and non-financial data about the City.
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