Consolidated Annual Financial Report (CAFR) is an annual report that includes three major sections: introductory, financial, and statistical. The introductory section furnishes general information on the government’s structure, services, and environment. The financial section contains all basic financial statements and required supplementary information, as well as information on all individual funds and discreetly presented component units not reported separately in the basic financial statements. The statistical section provides trend data and nonfinancial data useful in interpreting the basic financial statements and is especially important for evaluating economic condition.
Single Audit Report is performed annually to provide assurance to the US federal government as to the management and use of such funds by recipients.
Debt Obligations - General obligation bonds are issued with the belief that a municipality will be able to repay its debt obligation through taxation. The State of Missouri permits a city, by vote of two-thirds of the voting electorate, to incur GO indebtedness not to exceed 20% of the assessed valuation of taxable property.