Annual Financial Reporting

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Financial transparency is a high priority for the City of Milton -- doing what we can to help citizens and business owners understand how much the government is bringing in (in tax dollars, fees, etc.) as well as how that money is being spent. That's why the City is so committed to providing accurate, accessible, and effective financial reporting as detailed below, in addition to the annual Budget Book laying out expectations and plans for an approaching/existing fiscal year.

The FY2024 Budget Book can be found by clicking HERE.

Popular Annual Financial Report

A Popular Annual Financial Report, or PAFR, is a document intended to convey financial information related to the City government's finances to community stakeholders who may not have a background in public finance. Its content comes from the denser or more sweeping City's Annual Comprehensive Financial Report (available below), albeit very intentionally in an easier-to-follow format featuring graphics, pictures, and clear language that is easier for the average citizen to grasp.

Annual Comprehensive Financial Report

As its name implies, the Annual Comprehensive Financial Report (or ACFR, formerly referred to as the Comprehensive Annual Financial Report) offers an exhaustive look at all aspects of the City's finances for a given fiscal year (which run from October 1 through the following September 30). The goal of this document is to be complete and fully transparent, touching on every aspect of City operations as well as revenues, expenditures, various funds, and more. The City has completed such a report every fiscal year since 2007, which is the first full year in the City's history.