The Popular Annual Financial Report (PAFR) is designed to provide a summary view of the financial activities of the City. It is a high-level report for citizens who wish to learn more about Southlake finances. All information in this report can be found in greater detail in the Comprehensive Annual Financial Report.
The Comprehensive Annual Financial Report (CAFR) is a report of the City's performance from a financial perspective. It includes summarized data for assets, liabilities, revenues, expenditures and fund balance (or equity) by fund. In addition, there are comparisons to budget, debt analysis, capital asset listings, a brief synopsis of Financial Policy and a basic definition of government accounting.
Included with the CAFR is a letter from the Chief Financial Officer outlining various factors that may have effected the financial outcomes as well as the Independent Auditor's Report that expresses the auditing firm's opinion of the financial statements as a whole.