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City of Flint Finance
2008 Comprehensive Annual
Financial Report (CAFR)
Finance Officers Association (GFOA) of the United States and Canada awards
the Certificates of Achievement for Excellence in Financial Reporting
its Comprehensive Annual Financial Report (CAFR) - In order to be awarded a
Certificate of Achievement, a government must publish an easily readable and
efficiently organized CAFR, which must satisfy both Generally Accepted
Accounting Principles and applicable legal requirements. This Certificate of
Achievement is rewarded on a yearly basis.
The Certificate of Achievement for Excellence in Financial Reporting along
with our clean audit opinion speaks of the financial integrity of the City.
The result is:
- A better bond rating on
City bonds results in the City paying less interest.
- Lower interest rates
results in the citizens paying lower property taxes.
- Lower property taxes
results in satisfied citizens and Flint becoming a more desirable place
- Flint being a more
desirable place to live results in more businesses and individuals
moving into the area.
- As more businesses and
individuals move into the area the property tax base is expanded.
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