The Accounting Division of the Department of Revenue and Finance administers the general ledger; processes payroll records; maintains accounts receivable and payable; controls reimbursements and interdepartmental billings; and is responsible for investing City funds as well as negotiating bond issues. Additionally its personnel are responsible for balancing utility accounts; providing property control and central cashiering services; producing financial reports: and administering the City's pension fund.
The Comprehensive Annual Financial Report (CAFR) is a complete set of financial statements that is published each year in accordance with state law. The CAFR is presented in conformity with accounting principles generally accepted in the United States (GAAP) and is audited by a firm of licensed certified public accountants.
The CAFR is presented in four sections: An introductory section, a financial section that contains the basic financial statements and notes preceded by a management's discussion and analysis, a statistical section, and a single audit section detailing federal and state financial assistance with external auditor's certifications and management letter.