Funds

The information presented below is intended to provide the City Council and the citizens of Gulf Breeze with on going updates of revenues and expenditure activity. The format and presentation is likely to evolve. All amounts should be considered preliminary, as the interim amounts do not attempt to accrue non-cash activity (revenues and expenditures) except at fiscal year end (September 30). Audited results for the full fiscal year are presented in accordance with GASB (Government Accounting Standards Board) and GFOA (Government Financial Officers Association) standards which creates a Comprehensive Annual Financial Report (or CAFR) for the City.

Readers of this information should familiarize themselves with the Financial FAQs for the City to better understand the structure, policies, and process affecting the City’s accounting capabilities and financial reporting.

Comparisons in these presentations will typically contrast year-to-date collected revenues and expenditures in comparison to the initial budget established for the City.  The initial annual budget is typically finalized in September prior to the start of each fiscal year after several months of workshops and reviews.  However, the City Council may authorize projects and changes in expenditures at any time throughout the year, amending the budget to incorporate those authorized changes at the end of the fiscal year.  The result can be that authorized expenditures exceed the initial budgeted levels on occasion because only the initial budgeted levels are displayed.