Audited Annual Reports

annual COMPREHENSIVE financial reports

Each year the Department of Finance and Administrative Services prepares an Annual Comprehensive Financial Report (ACFR), which is audited by the City’s independent auditor. The ACFR presents the financial position and the changes in the financial position for each fiscal year. The basic financial statements and supporting schedules have been prepared in compliance with California Government code Sections 25250 and 25253 and in accordance with Generally Accepted Accounting Principles (GAAP) for local governments as established by the Governmental Accounting Standards Board (GASB).