The 2019 Popular Annual Financial Report (PAFR) should have recently arrived in your mailbox, providing an overview of your City’s financial health. Taxes and finances are a complicated thing on a personal level, let alone at the City or State level, and the PAFR is our attempt to give you the “CliffsNotes” version of a much larger and more complex document—the Comprehensive Annual Financial Report.
Within this document you can find details of our typical revenues and expenditures, with a three-year comparison provided to highlight any trends. On the revenue side, the story is definitely good news, with total revenues ticking upward, in most part thanks to increasingly strong income tax revenues.
This year’s PAFR includes an update of the Lane Avenue Planning Study–a process initiated by City Council to help the City better understand the impacts of future growth and put in place a framework for the rapidly evolving Lane Avenue Business Corridor. You will also find an overview of the work completed by the 2019 Citizen Financial Review Task Force. This includes details of the charge given by City Council as well as the Task Force’s findings and recommendations that came from their three-month comprehensive review of the City’s financial health and processes.
Another impressive area worth noting is the progress made in the community by the City’s Capital Improvement Program (CIP). Since the City expanded the CIP in 2014, approximately $74 million has been invested in our streets, sidewalks, waterlines, bridges, storm and sanitary sewer lines, and park improvements. The PAFR includes a high-level overview and monies spent for each category as well as further explanation on how capital investments are funded.
If you have misplaced your copy of the 2019 PAFR and we’ve managed to pique your interest in the value of this document, you can view the online version by clicking here.