Financial Reports and Budgets Explained
Comprehensive Annual Financial Report
The Comprehensive Annual Financial Report is a detailed account of the City’s financial statements, notes, schedules and statistics. The City of Victoria is proud to have received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association of the United States and Canada for its Comprehensive Annual Financial Report each year from 2007-2019. This award is the highest form of recognition in the area of government accounting and financial reporting. Only about 1% of cities under 10,000 in population in the United States receive this award.
Annual Budget and Capital Improvement Plan
The finance department leads the annual budget preparation for all fund budgets, including the five-year capital improvement plan. The capital improvement plan is a planning tool used to plan for the acquisition and funding of capital improvements such as buildings, equipment, parks, vehicles and infrastructure.