FY 2017 Popular Annual Financial Report FY 2017 Popular Annual Financial Report | Page 8

Arlington Financial Cycle
CAFR Reporting
December
Strategic Planning
January
November
February
October
March
September
April
August
May
Budget Development
July
June
TERMS
JANUARY
• 1 st QTR BP/budget
compiled
• City Council
coordinates strategic
planning session for
upcoming fiscal year
FEBRUARY
MARCH
• 1 st QTR BP/budget
reviewed by CMO
• CAFR/PAFR completed and approved by
City Council
• Official statement updated
• CAFR/PAFR submitted to GFOA
• City Council strategic planning session
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
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
AUGUST
• CMO reviews 3 rd QTR BP/budget
• Proposed budget presented to City Council
• Budget town hall meetings conducted with
residents
SEPTEMBER
• 3 rd QTR BP/budget compiled
• CMO & OMB finalize proposed budget
• Certified property tax roll received from
Tarrant Appraisal District
• Budget development discussion with City Council
• Budget adopted
OCTOBER
NOVEMBER
• 4 th QTR BP/budget compiled
• Fiscal year-end processing
• Budget document finalized
• Citizen survey developed
8 | Popular Annual Financial Report
DECEMBER
• Fiscal year-end processing
• External Auditor & staff begin work on
CAFR & single audit
• 4 th QTR BP/budget reviewed
• New budget submitted to GFOA
• Citizen satisfaction survey completed
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