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Friday, February 21, 2014

What is a CAFR?

A CAFR, or Comprehensive Annual Financial Report, is a set of financial reporting documents that detail the current financial standing of a governmental entity.  For the Village of Little Chute, this document, which is independently audited, provides the Village and general public with a very comprehensive overview of our financial standing.  

Each year, the Government Finance Officers Association (GFOA), recognizes units of government at the state, county and local level with Certificates of Achievement for Excellence in their Financial Reporting Program (CAFR Program).  This year, the Village of Little was again recognized for excellence in financial reporting for the year of 2012.  As printed in the Times Villager on Saturday, February 15th, the Village of Little Chute was one of only 27 municipalities in the state of Wisconsin to be recognized for such an achievement.  

One of the great things about the Village of Little Chute's website is that all these reports are available at your fingertips.  In addition to the annual CAFR, the Village also produces an annual budget and an annual five year Capital Improvement Plan.  So if you have interest in municipal financial reporting, all the information you would want (and more), is available at your pleasure on the Village's website.  You can be sure that the Village's Finance Department is working hard to ensure sound financial management practices while allowing for transparency into the process.

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