Accounting & Financial Reports
The Finance Department performs accounting functions in accordance with generally accepted accounting principles (GAAP) to maintain the financial records of the City. As part of the accounting function, accounting systems are established for new funds, grants, projects, or other needs. Assets, liabilities, equity, revenue and expenditures are recorded and detailed records of all property and equipment are kept and reconciled with a physical inventory. Monthly financial reports are sent to all departments and periodic financial and budget status reports are prepared and submitted to the City Commission. In addition, Finance processes payroll for all City employees and accounts payable. The Finance Department is also responsible for budgeting, debt administration, and purchasing activities.
Comprehensive Annual Financial Report (CAFR)
As required by the City charter and State statute, a comprehensive annual financial report (CAFR) is prepared and an independent audit is performed annually. Approximately forty support schedules for account analysis are prepared in conjunction with the City's annual audit. The CAFR for fiscal year ending June 30, 2016 is now available.
Prior Year Comprehensive Annual Financial Reports (CAFR):
CAFR for fiscal year ending June 30, 2015
CAFR for fiscal year ending June 30, 2014
CAFR for fiscal year ending June 30, 2013
CAFR for fiscal year ending June 30, 2012
CAFR for fiscal year ending June 30, 2011
CAFR for fiscal year ending June 30, 2010
The information in the CAFR has not been updated for developments subsequent to the date of the independent auditor's report.
City of Birmingham Employees' Retirement System Summary Annual Report
As required by the City Charter and State statute, an annual report must be made available to its members and other interested parties. The Retirement System Summary Annual Report for June 30, 2016 is now available.