The Popular Annual Financial Report (PAFR) is intended to summarize and simplify the statistical, economic, and financial information contained in the City of Kerrville’s 2022 Annual Comprehensive Financial Report (ACFR). The ACFR was prepared in conformance with generally accepted accounting principles (GAAP) and the City’s financial information was independently audited by FORVIS, LLP. For fiscal year ended September 30, 2022 (FY2022), the City of Kerrville received an unmodified opinion from FORVIS regarding the audit, which means the City’s financials were free of any material accounting errors requiring adjustment by the auditors.
The PAFR, while unaudited, provides a brief analysis of where the City’s revenues come from and where dollars were spent. The PAFR also provides information about events in the local economy and the community that may be of interest to citizens and other readers. This report is presented as a means of increasing public awareness and transparency about the City’s financial condition in a more user-friendly format. The PAFR does not contain detailed information from all of the City’s funds, but all funds are included in the citywide information and at the basic level in order to disclose fund balances as well as revenues and expenses.