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The Comprehensive Annual Financial Report (CAFR) gives the City's financial and economic status on a variety of levels. The CAFR also fulfills our responsibility to report all financial conditions to the public as custodians of their funds.
In addition, the City participates in the Certificate of Achievement for Excellence in Financial Reporting Program (CAFR Program), established by the Governmental Finance Officers Association in 1945 to encourage and assist state and local governments to go beyond the minimum requirements of generally accepted accounting principles to prepare comprehensive annual financial reports that evidence the spirit of transparency and full disclosure and then to recognize individual governments that succeed in achieving that goal. The goal of the program is not to assess the financial health of participating governments, but rather to ensure that users of their financial statements have the information they need to do so themselves.
The City received the Certificate of Achievement for Excellence in Financial Reporting for our FY 2016-17 CAFR, and we have received this award for 28 out of the last 29 years!