After the conclusion of the City's fiscal year on June 30 each year, the Finance Division completes closing entries and finalizes the City's financial records.

Independent auditors conduct an audit in accordance with Generally Accepted Accounting Principals (GAAP) to ensure legal and fiscal accountability to the public.

The City then prepares a Annual Comprehensive Financial Report (ACFR) which presents general information about the City's structure, services, and environment; audited basic financial statements; required supplemental information; statistical data on trends; and other information.