The Comprehensive Annual Financial Report (CAFR) is the highest level of financial reporting by a governmental organization. The CAFR Program was established by the Governmental Finance Officers Association (GFOA) in 1945 to provide a more comprehensive and detailed illustration of a City’s financial condition.
In the State of Ohio, Cities are required to document what assets they have available and what liabilities they have incurred. Generally, this is accomplished through the preparation of General Purpose Financial Statements. Many governmental organizations have chosen to go above and beyond this process and instead to develop a CAFR. The preparation of a CAFR is totally at the discretion of the community. Cities choosing to prepare a CAFR in compliance with the Governmental Accounting Standards Board (GASB) and subsequently recognized by GFOA are awarded the Certificate of Achievement for Excellence in Financial Reporting for the preparation of their CAFR. Since the year 2000, the City of Springdale has been honored with this distinguished and prestigious award. The City’s CAFR is prepared in-house annually by the department.
Below you can find a copy of the City’s CAFR from the most recent years.
Each month a cash basis report is prepared documenting the City’s General Fund activity. This report illustrates the General Fund balance, a summary of receipts, and a summary of expenditures. In addition, the report provides a breakdown of receipts by account and expenditures by department. Below are copies of City’s year-end reports.