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.
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.
Southlake has been recognized for the second consecutive year with the Leadership Circle Award by the State of Texas for providing financial documents readily available to the public. The Comptroller Leadership Circle encourages and applauds local governments across Texas that have focused on giving taxpayers a transparent look at local expenditures.