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Financial Audit Reports

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Financial reporting – Audits

 

Annually, two types of financial audits are produced by the City.

City wide and fund financial statements are prepared for City operations in accordance with Generally Accepted Accounting Principles (GAAP).  These detail the City’s, and other component entities’, financial activity and position. Audits are conducted by an independent firm of Certified Public Accountants annually and their opinion is attached. Digital copies of these can be obtained by clicking on the links below labeled City.

  

  • Unlike the private sector, governmental financial reporting is done utilizing fund accounting. A fund is a fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources, together with all related liabilities and equities, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions, or limitations.  The primary fund utilized to account for general city operations is the General Fund.
  • Special Bond Compliance auditing is done on the City of Montclair Successor Agency.  These cover all of the bond transactions and flow of redevelopment property tax monies to the bond trustees and taxing entities.  Again, audits are conducted by an independent firm of Certified Public Accountants and their opinion is attached. Digital copies of these can be obtained by clicking the links below labeled Successor Agency Bond Report.

Hard copies of these can be requested from the Finance Department located within City Hall.

City Independent Audits                                                      Successor Agency Bond Audit Report

2004-2005 City                                                              Successor Agency Bond Rpt. 2012-2013

2005-2006 City                                                              Successor Agency Bond Rpt. 2013-2014

2006-2007 City                                                             Successor Agency Bond Rpt. 2014-2015

2007-2008 City                                                              Successor Agency Bond Rpt. 2015-2016

2008-2009 City                                                              Successor Agency Bond Rpt. 2016-2017

2009-2010 City                                                              Successor Agency Bond Rpt. 2017-2018

2010-2011 City

2011-2012 City

2012-2013 City

2013-2014 City

2014-2015 City

2015-2016 City

2016-2017 City

2017-2018 City