Arlington Financial Cycle
CAFR Reporting |
December |
January |
Strategic Planning |
November February
October March
September April
August |
July |
June |
May |
Budget Development |
TERMS
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
OMB Office of Management and Budget
QTR Quarter
JANUARY
• 1 st QTR BP & budget compiled
• City Council coordinates strategic planning session for upcoming fiscal year
FEBRUARY
• 1 st QTR BP / budget reviewed by CMO
APRIL
• 2 nd QTR BP / budget compiled
• Potential bond issuance
• Rating agency review / OS update
JUNE
• CMO reviews budget & BP
• Modifications & proposals reviewed & prioritized
• Proposed budget discussion with CMO
AUGUST
• CMO reviews 3 rd QTR BP / budget
• Proposed budget presented to City Council
• Budget town hall meetings conducted with residents
NOVEMBER
• 4 th QTR BP / budget compiled
• Fiscal year-end processing
• Budget document finalized
• Citizen survey developed
MARCH
• CAFR / PAFR completed and approved by City Council
• Official statement updated
• CAFR / PAFR submitted to GFOA
• City Council strategic planning session may
• Budget kick off
• CMO reviews 2 nd QTR BP / budget
• Department BP & budget modifications / proposals due for next year
• Preliminary revenue for upcoming fiscal year determined
JULY
• 3 rd QTR BP / budget compiled
• CMO & OMB finalize proposed budget
• Certified property tax roll received from Tarrant Appraisal District
SEPTEMBER
• Budget development discussion with City Council
• Budget adopted
OCTOBER
• Fiscal year-end processing
• External Auditor & staff begin work on CAFR & single audit
DECEMBER
• 4 th QTR BP / budget reviewed
• New budget submitted to GFOA
• Citizen satisfaction survey completed
8 | Popular Annual Financial Report