State law requires that all general purpose local governments publish, at the close of each fiscal year, a complete set of financial statements presented in conformity with generally accepted accounting principles (GAAP) and audited in accordance with generally accepted auditing standards by a firm of licensed Certified Public Accountants. The goal of the independent audit is to provide reasonable assurance that the financial statements of the City are free of material misstatement.
Excellence in Financial Reporting Since 1989
The City of Sanford has received a Certificate of Achievement for Excellence in Financial Reporting for the CAFR annually since 1989. The certificate program is administered by the Government Finance Officers Association (GFOA). The certificate of achievement is the highest form of recognition in the area of government accounting and financial reporting. To achieve the award, the CAFR must be judged by an impartial panel to meet high standards of the program including demonstrating a constructive spirit of full disclosure to clearly communicate the City’s financial results and status for the year. The CAFR is submitted to the GFOA certificate program each year for review upon completion of the annual audit.
Electronically Available Comprehensive Annual Finance Reports (CAFRs)