We are very proud to announce the District compiled its first comprehensive report and received a clean audit due to an enormous amount of effort by our Finance Department implementing best practices in financial reporting and management.
A CAFR is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB). The CAFR consists of three sections: Introductory, Financial and Statistical.
The purpose of a CAFR is to be transparent about the use of taxpayers' money and to give the public a detailed accounting of all expenditures. A CAFR accomplishes this by including dozens of basic and more intricate financial reports along with notes, narratives, and supporting data.
The foremost purpose of a CAFR is to provide financial transparency and thus, promote accountability. When a city or state government issues bonds to fund public projects, CAFR provides insights into the financial functioning of the government, based on which investors can take an informed decision.
The download the report click on the link below.Comprehensive Annual Financial Report (CAFR)