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The City Council received a presentation on Granbury’s Comprehensive Annual Financial Report (CAFR) for the 2017-2018 fiscal year. Granbury’s Director of Finance Eva Gregory and the CAFR’s auditor from George, Morgan, & Sneed, P.C. presented to the Council and answered questions.
What is a CAFR? The CAFR is an annual report required by state law. The City’s Finance Department publishes the report, showing the financial state of the City and complying with accounting requirements. Every year, the City’s financial records are audited by an independent auditor, then the CAFR is published to provide the City Council, citizens, bondholders, City staff, and other interested parties with detailed information concerning the financial condition and activities of the City government.
The CAFR is a comprehensive document, covering many important aspects of the City’s financial state. At the City Council Meeting, Gregory showcased some of the highlights of the City’s strong financial growth from the CAFR:
For 17 consecutive years the City of Granbury has received the Government Finance Officers Association of the United States and Canada Certificate of Achievement for Excellence in Reporting. The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment. The CAFRs were judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure.” The 2017-18 CAFR has not yet been judged.
To read the full CAFR, visit www.granbury.org/financialtransparency. The watch the presentation to the City Council on the CAFR on March 5, click here.
The Finance Department also launched a financial transparency platform to further increase its effectiveness and accountability and earn greater public trust in 2018. OpenGov, which can be accessed at www.granbury.org/opengov, updates daily with the City’s financial information. Granbury’s citizens, Councilmembers, staff, and customers can all go online 24/7 from any device and see where tax dollars are being spent.
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