Annual Comprehensive Financial Report

State law requires that all general purpose local governments publish a complete set of financial statements presented in conformity with accounting principles generally accepted in the United States (GAAP) and audited in accordance with generally accepted auditing standards and government auditing standards by a firm of licensed certified public accountants. This is known as the Annual Comprehensive Financial Report, or Annual Report. 

Unlike the City Budget which outlines where the funds are allocated for the upcoming two-year cycle, the Annual Report details where and how the funds were spent in the previous fiscal year.  The Annual Report is representative of the City's audited financial statements, covering the City's fiscal year (July 1 through June 30th), with the Annual Report due on December 31st of the same calendar year.