FY 2015 Popular Annual Financial Report FY 2015 Popular Annual Financial Report | Page 8

Arlington Financial Cycle
CAFR Reporting

December

Strategic Planning

January
February

November
October

March

September

April
May

August
July

June

TERMS

Budget Development

CAFR
Comprehensive
Annual
Financial Report

PAFR
Popular Annual
Financial Report

BP
Business Plan

OS
Official Statement

GFOA
Government
Finance
Officers
Association

CMO
City Manager’s
Office

JANUARY
• External Auditor & staff begin
work on CAFR & single audit
• 1st QTR business plan &
budget compiled
• City Council coordinates
strategic planning session for
upcoming fiscal year

MARCH
• CAFR/PAFR completed
• City Council approved
• Official statement
updated
• City Council strategic
planning session

FEBRUARY
• 1st QTR business
plan/budget
reviewed CMO)

OMB
Office of
Management
and Budget

QTR
Quarter

8 | Popular Annual Financial Report

APRIL

may

SEPTEMBER

• Budget kick off
• CMO reviews 2nd
QTR BP/budget
• Department
BP & budget
modifications/
proposals due for
next year
• Preliminary revenue
for upcoming fiscal
year determined

• Budget development discussion
with City Council
• Budget adopted

JULY
• 3rd QTR BP/budget
compiled
• CMO & OMB finalize
proposed budget
• Certified tax roll
received from
Tarrant Appraisal
District

NOVEMBER
• 4th QTR BP/budget
compiled
• Fiscal year-end processing
• Budget document finalized
• Citizen survey developed

JUNE

OCTOBER

• CMO reviews budget & BP
• Modifications & proposals
reviewed & prioritized
• Proposed budget
discussion with City
Manager

• Fiscal
year-end
processing

• 2nd QTR BP/budget
compiled
• Potential bond
issuance
• Rating agency review/
OS update
• CAFR/PAFR submitted
to GFOA

AUGUST
• CMO reviews 3rd
QTR BP/budget
• Proposed budget
presented to City
Council
• Budget town
hall meetings
conducted with
residents

DECEMBER
• 4th QTR BP/
budget reviewed
• New budget
submitted to
GFOA
• Citizen
satisfaction
survey completed