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Financial Services

Comprehensive Annual Financial Report (CAFR)

The Government Finance Officers Association (GFOA) has awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Cape Coral for its CAFR for the fiscal year ended September 30, 2018 this is the 33rd consecutive year that the City has achieved this prestigious award.

We believe that our CAFR for fiscal year 2019 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 CAFR 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.