The city recently completed its annual audit and prepared the 2017 Comprehensive Annual Financial Report (CAFR), also known as the city’s financial statements. In 2017, a majority of the city’s governmental operations continued to be funded by the property tax levy, followed by the local option sales tax for eligible capital infrastructure projects.
Capital outlay or capital project related expenditures comprised of 31.4% of the city’s 2017 governmental expenditures. A significant investment in the 2018-2019 Cypress Drive project began in 2017, followed by improvements to Excelsior Road and mill and overlay improvements to various streets last year. The next largest expenditures were debt service and public safety (police, fire protection, and building inspection) at 22.9% and 14.8%, respectively.
A complete copy of the 2017 CAFR can be found on the city’s website under Finance Department.