Lewisville's financial books are open for public viewing, as the city's finance department rolled out its latest fiscal reports earlier this week. The two key documents, launched for fiscal year 2022-23, include the in-depth Annual Comprehensive Financial Report (ACFR) and the more reader-friendly Popular Annual Financial Report (PAFR), which were both presented to the Lewisville City Council.
The compilation of these reports commenced late last fall and both serve as a financial telescope into city spending, crucial for banks, credit agencies, and external funding bodies. The ACFR, audited by an independent CPA firm, adheres to the Government Accounting Standards Board (GASB) guidelines. It's packed with the nitty-gritty of where every penny comes from and where it's allocated.
The city aims to be clear and transparent with its financial position — a goal the PAFR takes to heart, catering to residents and businesses who might not be finance savvy. This summarized report has been in play since FY 2020 and hits the presses within half a year of each fiscal cycle's end. Lewisville attempts to strip down the jargon and present a clear-cut overview of its monetary health.
The finance department encourages locals and stakeholders to dive into the details, declaring the full reports are just a click away. All who are interested can access complete financial disclosures on the "Annual Financial Reports" page, as per the City of Lewisville, Texas. This online publication ensures that the data does more than sit on a shelf – it provides actionable insights for those with a stake in Lewisville's economic pulse.
