TO: Mayor Bien-Willner and Town Council Members
FROM: Jill Keimach, Town Manager
Douglas Allen, CPA
DATE: December 5, 2019
DEPARTMENT: Finance
Staff Contact Douglas Allen, CFO, 480-348-3696
End
AGENDA TITLE:
Title
Adoption of Resolution 2019-24 Accepting the FY2018-19 Popular Annual Financial Report (PAFR)
Body
RECOMMENDATION:
Recommendation
Adopt Resolution 2019-24 Accepting the FY2018-19 Popular Annual Financial Report (PAFR)
Background
SUMMARY STATEMENT:
The PAFR is expected to be available in electronic format by Tuesday December 5th and hard copy by December 31st.
In the spirit of transparency and full disclosure, the Finance office is pleased to present the Paradise Valley’s second Popular Annual Financial Report (“PAFR”).
This PAFR summarizes the financial activities of the Town with brief analysis of where the Town’s revenues come from, where those dollars are spent and trends in the local economy.
This PAFR serves as means of increasing and maintaining public confidence and trust in the Town’s government. The PAFR is specially designed to be a reader friendly financial report that we believe you will find transparent, relevant and hopefully interesting.
The statements contained in this PAFR condenses and simplifies information derived from the Town’s 2019 Comprehensive Annual Financial Report (CAFR). The CAFR is audited, conforms to U.S. Generally Accepted Accounting Principles and comprised of more than 130 pages of detailed financial statements, note disclosures, supplemental schedules and statistical tables.
This PAFR does not contain the level of detail that is found in the CAFR. But… the friendly PAFR is easier to read.
ATTACHMENT(S):
01 Resolution 2019-24 Accepting the FY2018-19 Popular Annual Financial Report
02 Town of Paradise Valley’s FY2018-19 Popular Annual Financial Report (PAFR)