The Annual Financial Report is provided for public disclosure of the City’s financial activity. The financial year is from October 1 through September 30. These reports are audited by a qualified external auditing firm to state if they are presented in accordance with GAAP (Generally Accepted Accounting Principles) and follow GAAS (Generally Accepted Auditing Standards). The auditors then render an opinion if the financial statements are accurate, consistent, and verifiable. The best opinion is if the financial statements presents fairly, in all material respects regarding financial position and net position changes. Audited Financial Reports are the City’s accountability to its citizens.