The purpose of the Popular Annual Financial Report (PAFR) is to summarize and simplify the presentation of information contained in the Annual Comprehensive Financial Reports. The County’s financial statements are prepared in accordance with GAAP and are independently audited
by an external CPA firm. Much of the information in the audited financial statements is technical and complex. As a result, the full financial statements may not be particularly useful to the citizens of the County who wish to better understand
county government finances.
Over the last several years, state and local governments have begun issuing simplified financial reports, or PAFRs. PAFRs are intended to better inform the public about their government’s financial condition,
without excessive detail or the use of technical accounting terms.
The PAFR summarizes and explains the information contained in the Annual Comprehensive Financial Reports for the last fiscal year, along with other information on the County’s finances, in easily understood
terms. The PAFR represents the ongoing commitment of county officials to keep the citizens informed about county finances, and to be accountable in all respects for the receipt and expenditure of public funds.
Realizing the value the PAFR
provides to citizens in 2014 the Finance Department produced the County’s first PAFR. The County submitted the PAFR to the GFOA PAFR Award Program and received the award. This respected recognition demonstrates the County’s commitment
to prepare a high quality PAFR. The County has been awarded the Award for Outstanding Achievement in Popular Annual Financial Reporting every year since.