Significance of the CAFR
The City of Creedmoor operates on a fiscal year that begins July 1st and ends June 30th. Beginning with the fiscal year ending June 30, 2009, the city has gone beyond submitting the minimum financial statements required by the state to produce a Comprehensive Annual Financial Report (CAFR). A CAFR includes all the information required by generally accepted accounting standards and an additional statistical section giving citizens and interested parties information about Creedmoor’s tax base, debt capacity, demographic information, and performance of essential city services.
Certificate of Achievement for Excellence in Financial Reporting
The Government Finance Officers Association (GFOA) administers the Certificate of Achievement for Excellence in Financial Reporting Program. This certificate is the highest form of recognition available in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
The City of Creedmoor has received nine (9) such Certificates of Achievement since fiscal year ending June 30, 2009.