An annual comprehensive financial report is the gold standard of financial disclosure that complies with the accounting requirements established by the Governmental Accounting Standards Board (GASB). This annual financial report serves a number of purposes for the general public, investors and other interested groups. One of the most significant purposes of a comprehensive financial report is that it provides valuable insight into how City officials manage public finances. This report is similar to the annual reports for a business, as it lends insight into the overall financial health of our City operations and is subject to a full financial audit by an independent auditor.
Award Winning Annual Comprehensive Financial Report & Popular Annual Financial Report
In addition to the award-winning budgets, the City of Cotati (City) was awarded a Certificate of Achievement for Excellence in Financial Reporting and the corresponding Award of Financial Reporting Achievement, awarded by the Government Finance Officers Association (GFOA). These awards are for the Annual Comprehensive Financial Report for the fiscal years ended June 30, 2018, June 30, 2019, and June 30, 2020.
The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by the City.
For more information about the award processes please see the GFOA website. You can check out the Annual Comprehensive Financial Report and Annual Financial Report to the Community either at City Hall or in digital versions below.