Comprehensive Annual Financial Report

At the end of each fiscal year, the City of Arvada prepares year-end financial statements in accordance with GAAP (Generally Accepted Accounting Principles). These statements are contained in a Comprehensive Annual Financial Report (CAFR). The CAFR summarizes the financial activity of the governmental entity in much the same way as a private sector year-end audit would for a private sector business.

The City of Arvada hires an independent Certified Public Accounting firm to audit these statements and render a professional opinion as to the accuracy and integrity of the report.