Posted on January 4, 2018 at 3:15 pm by Meghan Revolinsky
By: Dan Jacobson
Each year, the City's external auditors conduct an audit of the City's financial records and assist staff in publishing the Comprehensive Annual Financial Report or CAFR. The primary purposes of the CAFR are to provide accountability and transparency to the City Council and public, in addition to reasonable assurance of reliability based on the assistance of an independent auditing source. The City's fiscal year runs from July 1 through June 30 each year, and the CAFR for the fiscal year ended June 30, 2017, is now available on the City's website.
The CAFR is divided into three sections -- introductory, financial, and statistical -- and interested residents and members of the public are encouraged to begin with the letter of transmittal, independent auditor's report, and the management discussion and analysis to understand the City's finances as of the end of the last fiscal year. As in previous years, staff will make a CAFR presentation to City Council, scheduled for Jan. 16, 2018, and the staff report will be available on the City's website when available and no later than 72 hours before the City Council meeting.