Each year, the City issues financial statements that have been audited by an independent auditing firm. The independent auditor issues an opinion on whether or not the statements fairly and accurately represent the City's current financial position.
The City goes a step further each year and develops a CAFR, which expands the presentation of financial information and gives further information regarding the overall condition and position of the overall reporting entity. This report is then submitted to the Government Finance Officers Association to determine if it is eligible for the Certificate of Achievement for Excellence in Financial Reporting. The City has received this award each year since 1984.
Interim Financial Reporting
The Financial Services Department typically issues interim financial updates on a quarterly basis that are reviewed by City Council. Other reports are also issued on a regular basis for various internal users.