City’s Comprehensive Annual Financial Report released
The city of Sanibel recently reported that its Comprehensive Annual Financial Report (CAFR) for the fiscal year, which ended on Sept. 30, is completed. It is available to the public to access by visiting www.mysanibel.com/Departments/Finance/Comprehensive-Annual-Financial-Reports.
Officials reported that the city’s external auditors did not report on any deficiencies in internal control, financial records or IT security controls, and they issued an “unmodified opinion” on the city’s financials – the highest level of assurance that can be given.
The CAFR is a comprehensive overview of the city’s finances. The Finance Department works with all city departments in collecting and analyzing financial data from the fiscal year. In addition, the CAFR analyzes and discloses information on the city’s debt service, investment portfolio and compliance with federal and state grants requirements. It is audited by an independent third party to assure the public that the document is accurate and in compliance with generally accepted accounting principles.