Annual comprehensive Financial Report (ACFR)
The Annual Comprehensive Financial Report (ACFR) is presented in three sections: Introductory, Financial, and Statistical. The introductory section includes the transmittal letter, the Certificate of Achievement for Excellence in Financial Reporting, the City’s organizational chart and a list of principal officials. The Financial section includes the MD&A , the basic financial statements and the combining and individual fund financial statements and schedules, as well as the independent auditor’s report on the financial statements and schedules. The Statistical section includes selected financial and demographic information, generally presented on a multi-year basis.
The City is required to undergo an annual single audit in conformity with the provisions of the Single Audit Act as amended and the U.S. Office of Management and Budget Circular A-133, Audits of State and Local Governments, and Non-Profit Organizations. Information related to this Single Audit, includes the schedule of expenditures of federal awards, findings and questioned costs, and independent auditors’ reports on internal control and compliance with applicable laws and regulations, and is available as a separate document.