Popular Annual Financial Report FY 2024
1. STRATEGIC PLANNING
January
• 1st BP / BAR compiled.
• Five-year Financial Forecast kickoff.
• Citizen survey developed.
February
• CMO reviews 1st BP / BAR.
• Citizen satisfaction survey completed.
March
• ACFR, PAFR completed, approved by City Council and submitted to GFOA.
• Official statement updated.
• City Council strategic planning session.
2. BUDGET DEVELOPMENT
April
• 2nd BP / BAR compiled.
• Rating agency review / official statement update.
May
• Budget kick off.
• CMO reviews 2nd BP / BAR.
• Department business plan / budget modifications / proposals due.
• Preliminary revenue determined for upcoming fiscal year.
June
• CMO reviews BP / budget.
• Modifications and proposals reviewed and prioritized.
• Proposed budget discussion with CMO.
• Potential bond issuance.
July
• 3rd BP / BAR compiled / reviewed.
• CMO, OMB finalize proposed budget.
• Certified property tax roll received from Tarrant Appraisal District.
August
• Proposed budget presented to City Council.
• Budget town hall meetings conducted with residents.
• Budget development discussion with City Council.
September
• Budget development discussion with City Council.
• Budget adopted.
3. ACFR REPORTING
October
• Fiscal year-end processing.
• External auditor and staff begin work on ACFR and single audit.
November
• 4th BP / BAR compiled.
• Fiscal year-end processing.
• Budget document finalized.
December
• 4th BP / BAR reviewed.
• New budget submitted to GFOA.
ARLINGTON FINANCIAL
Cycle 2024
ACFR: Annual Comprehensive Financial Report BAR: Budget Analysis Report
BP: Business Plan CMO: City Manager’ s Office
GFOA: Government Finance Officers Association OMB: Office of Management and Budget
OS: Official Statement PAFR: Popular Annual Financial Report
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