Annual Comprehensive Financial Report

The Annual Comprehensive Financial Report (ACFR) is prepared in accordance with the generally accepted accounting principles (GAAP) in the United States of America established by the Government Accounting Standards Board. 

The ACFR is presented in three sections:

  • Introductory
  • Financial
  • Statistical

The ACFR includes all funds of the city. This report includes all government activities, organizations and functions for which the City is financially accountable.

The criteria used in determining activities to be reported within the city’s basic financial statements are based upon and consistent with those set forth by the Governmental Accounting Standards Board. Based upon these criteria, the Community Development Corporation and the Economic Development Corporation are included as discretely presented component units.