Annual Financial Report
We believe that our Financial Report for fiscal year 2020 will continue to meet the Certificate of Achievement Program’s requirements, and we will submit it to the GFOA to determine its eligibility for another certificate upon completion.
Our Financial Report is completed each fiscal year, which consists of many funds. The financial transactions of the City are recorded in individual funds. The operations for each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures/expenses.
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Click here for a primer written by Stephen J. Gauthier on interpreting financial statements. This primer provides a clear explanation on how to better understand local government's financial position and how that information is reported.
Stephen J. Gauthier is the director of the Government Finance Officers Association's Technical Services Center.