The City is required annually to have an audit of its financial records performed by an independent certified public accountant. Accordingly, after the close of its fiscal year, the City publishes a Comprehensive Annual Financial Report (CAFR) containing information on the its financial position and results of operations for the past fiscal year and any budgetary variances. The CAFR is prepared to conform to the highest standards of public financial reporting as set forth by the following organizations:
Governmental Accounting Standards Board (GASB)
American Institute of Certified Public Accountants and its Committee on
Governmental Accounting and Auditing
Government Finance Officers Association of the United States and Canada
California Society of Municipal Finance Officers
The City’s CAFR has received awards for excellence in financial reporting from National and State organizations. See Awards.
The CAFR for the most recently completed fiscal year is normally published in December. Previous year’s reports are also available from this page.