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The original item was published from 7/23/2018 2:42:53 PM to 8/25/2018 12:00:01 AM.

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City Highlights

Posted on: July 23, 2018

[ARCHIVED] Auditor of State Releases CAFR


The 2017 Comprehensive Annual Financial Report (CAFR) for the City of Huber Heights has been released by the State Auditor’s Office, and therefore is authorized for public release. The CAFR is the official audited report that is comprised of the financial statement and report of our city government.  The CAFR shows and complies with the accounting requirements established by the Government Accounting Standards Board (GASB). Listed below are the purposes and benefits related to the preparation of a CAFR showing benefit over a basic or general purpose financial statement:

  • Describes what was actually spent within the budget year and the status of assets and liabilities at the end of the fiscal year.
  • Presents information on the accrual basis of accounting, recognizing amounts owed by the City but not paid at the end of the fiscal year, as well as amounts due to the City but not received by year-end.
  • Complete presentation of financial investment and income from all sources, real property and other fixed assets, and short and long-term debt obligations.
  • Provides valuable insight into the financial health of a City by providing a comprehensive picture of the City’s financial condition.
  • Provides information used by investment companies such as Moody’s and Standard & Poor’s to determine the City’s fiscal integrity and set bond rates.
  • Promotes financial transparency to citizens and potential investors for City bond issues.
  • Promotes accountability of public officials for responsible financial management of taxpayer dollars.
  • Represents a best practice in government and public finance.

Link to CAFR
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