Introduction | Budgets | CAFR | PAFR
Finance Department
Popular Annual Financial Report (PAFR)
2006 Popular Annual Financial Report
Welcome | Overview | Capital Reinvestments | The City's Net Assets | The Value of Income Tax
Introduction
The reasons residents choose to live in Upper Arlington are varied, but they often revolve around quality of life issues. Beautiful homes and safe neighborhoods, a strong sense of community, convenient location, first-rate schools and excellent City services combine to create an attractive, stable environment in which to reside and raise a family. These positive attributes are the result of many years of community commitment and visioning, combined with solid financial planning from your local government entities.
Members of the Finance Department are pleased to present the City of Upper Arlington’s second Popular Annual Financial Report for the fiscal year ended December 31, 2006. This report is intended to present an accessible overview of the City’s financial position and policies, and its commitment to providing responsive services and programs in a fiscally responsible manner.
Inside this publication, we provide you with details of how the City’s revenue is generated, where dollars are spent, and how the local economy impacts Upper Arlington’s overall financial status. New in this year’s edition, is a section that takes a look at the benefits of the City’s economic development program. Above all, our goal is to provide you an opportunity to better understand the many financial aspects that affect your local government.
The financial annual report information provided here is drawn from detailed information found within the 2006 Comprehensive Annual Financial Report (CAFR). The financial statements appearing in the comprehensive document were prepared in conformance with Generally Accepted Accounting Principles (GAAP) and audited by an independent auditing firm, receiving an unqualified (or clean) opinion. The numbers contained within the CAFR were obtained by employing the basis of accounting principles as prescribed by the Governmental Accounting Standards Board (GASB).
In short, the highest standards of accounting principles have been utilized to ensure full financial disclosure and accountability. Recognition of this commitment is evidenced by the City attaining the Certificate of Achievement for Excellence in Financial Reporting for 19 consecutive years from the Government Finance Officer’s Association for its CAFR document.
While the numbers in this Popular Annual Financial Report come from an audited source, they are presented in an abridged, un-audited, non-GAAP format in order to provide a user-friendly summary of the City’s financial practices. Citizens who wish to review audited GAAP-basis financial statements can refer to the City’s 2006 CAFR, which is available from the Finance Department, local libraries, and online at www.ua-ohio.net.
Members of the Finance Department and Staff across the organization are proud to serve this fine community. We hope the 2006 Popular Annual Financial Report serves its purpose and helps assure you that every effort is made to manage the community’s tax dollars wisely for the benefit of all.
Please enjoy this view of your City’s financial health.
Catherine Armstrong, CPA
Finance Director
2005 Popular Annual Financial Report
2005 Popular Annual Financial Report
Introduction
The reasons residents choose to live in Upper Arlington are varied, but they often revolve around quality of life issues. Beautiful homes and safe neighborhoods, a strong sense of community, convenient location, first-rate schools and excellent City services combine to create an attractive, stable environment in which to reside and raise a family. These positive attributes are the result of many years of community commitment and visioning, combined with solid financial planning from your local government entities.
Staff of the Finance Department is pleased to present the City of Upper Arlington’s first Popular Annual Financial Report for the fiscal year ended December 31, 2005. This report is intended to present an accessible overview of the City’s financial position and policies, and its commitment to providing responsive services and programs in a fiscally responsible manner.
Inside this publication, we provide you with details of how the City’s revenue is generated, where dollars are spent, and how the local economy impacts Upper Arlington’s overall financial status. Above all, our goal is to provide you an opportunity to better understand the many financial aspects that affect your local government.
The financial annual report information provided here is drawn from detailed information found within the 2005 Comprehensive Annual Financial Report (CAFR). The financial statements appearing in the comprehensive document were prepared in conformance with Generally Accepted Accounting Principles (GAAP) and audited by an independent auditing firm, receiving an unqualified (or clean) opinion. The numbers contained within the CAFR were obtained by employing the basis of accounting principles as prescribed by the Governmental Accounting Standards Board (GASB).
In short, the highest standards of accounting principles have been utilized to ensure full financial disclosure and accountability. Recognition of this commitment is evidenced by the City attaining the Certificate of Achievement for Excellence in Financial Reporting for 18 consecutive years from the Government Finance Officer’s Association for its CAFR document.
While the numbers in this Popular Annual Financial Report come from an audited source, they are presented in an abridged, un-audited, non-GAAP format in order to provide a user-friendly summary of the City’s financial practices. Citizens who wish to review audited GAAP-basis financial statements can refer to the City’s 2005 CAFR, which is available from the Finance Department, local libraries and online at www.ua-ohio.net.
Members of the Finance Department and Staff across the organization are proud to serve this fine community. We hope the 2005 Popular Annual Financial Report serves its purpose and helps assure you that every effort is made to manage the community’s tax dollars wisely for the benefit of all.
Please enjoy this view of your City’s financial health.
Catherine Armstrong, CPA
Finance Director
Updated 7/20/07
Finance Department
City of Upper Arlington
3600 Tremont Road
Upper Arlington, Ohio 43221
Phone: 614-583-5280
www.ua-ohio.net
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