Financial Reports

The office of the finance director prepares the City’s Comprehensive Annual Financial Report (CAFR). The CAFR is the official statement of the City’s financial position on June 30, at the close of the fiscal year and is prepared in accordance with generally accepted accounting principles (GAAP). The City undergoes an audit by an independent accounting firm for the purposes of rendering an opinion as to whether the financial statements which are included in the CAFR are fairly presented, this report can be found in the financial section of the CAFR.

The information in the CAFR has not been updated for developments subsequent to the date of the independent auditor’s report.

4 Sections of the CAFR

  • The introductory section includes a listing of principle officials; City’s organizational chart, and a copy of the previous year’s CAFR Award.
  • The financial section includes the independent auditors report, management discussion and analysis; basic financial statements; required supplementary pension information; and combining, individual fund statements and schedules.
  • The statistical section contains information on taxes, financial trends, long-term debt, and may cover a ten-year period for comparative purposes.
  • The compliance section contains schedules of federal and state financial assistance; the independent auditor’s reports on compliance with internal controls and related financial assistance requirements as well as reports reflecting Federal, State, and Local matching participation in various projects and programs of the City (grant awards).

View past Comprehensive Annual Financial Reports.

View past Compliance Reports.

Financial Reporting Award

The CAFR is also submitted each year to the Government Finance Officers Association’s (GFOA) Certificate of Achievement for Excellence in Financial Reporting Award Program. The CAFR award program is the most prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. The City of Kinston has consistently received this important award, our certificate of achievement is displayed in the introductory section of the CAFR.