Comprehensive Annual Financial Report

What is the CAFR?

Each year the City of Danville's Finance Department issues a comprehensive annual financial report (CAFR). This report represents and reflects upon the City's financial operations and condition to the city's residents, its elected officials, management personnel, financial institutions, city bondholders, rating agencies and all other parties interested in the financial affairs of the city. The CAFR is prepared in accordance with generally accepted accounting principles (GAAP) and includes financial statements audited by an independent public accounting firm.

How is it Presented?

The CAFR is presented in three sections: introductory, financial and statistical. The introductory section includes a transmittal letter and the government's organizational chart. The financial section includes the auditor's opinion letter, management's discussion and analysis (MD&A) and financial statements. The statistical section includes selected financial and demographic information, generally presented on a multi-year basis.