Comprehensive Annual Financial Report
Comprehensive Annual Financial Report (CAFR)
The Comprehensive Annual Financial Report (CAFR) is a thorough and detailed presentation of the city's financial condition. It reports on the city's activities and balances for each fiscal year in accordance with the requirements promulgated by the Governmental Accounting Standards Board (GASB). The CAFR is prepared by staff in the Administration Department in cooperation with external auditors.
What's in the CAFR?
The CAFR is presented in three sections:
- Introductory section - includes transmittal letter, principal city officials, organizational structure and certificate of achievement.
- Financial section - includes the independent auditor's report and contains management's discussion and analysis, government-wide financial statements, fund financial statements, notes to the financial statements, required supplementary information, combining financial statements, and schedules.
- Statistical section - includes additional financial, economic, and demographic information.
Certificate of Achievement for Excellence in Financial Reporting
The CAFR is presented to the Government Finance Officers Association (GFOA), which conducts each year a review of applicant local government CAFRs and upon review awards their Certificate of Achievement for Excellence in Financial Reporting to those local governments that are in compliance with their standards of preparation.
The City of Brentwood received its first Certificate of Achievement for Excellence in Financial Reporting for the fiscal year ended December 31, 1999.