- Finance Department
- Accounting and Reporting
Accounting and Reporting
Annual Comprehensive Financial Report
The Annual Comprehensive Financial Report, better known as the ACFR, is prepared annually to provide the City Council, citizens, representatives of financial institutions and others with detailed information concerning the financial condition and performance of the City of Rialto. The report also provides assurance that the City presents fairly its financial position as verified by independent auditors.
Each year the City's financial records are audited in accordance with generally accepted auditing standards, Government Auditing Standards issued by the Controller General of the United States, and the provisions of the Single Audit Act, Office of Management and Budget (OMB) Circular A-133 and OMB's Compliance Supplement. These standards require that auditors plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The audit also includes assessing the accounting principles used in the significant estimates made by management, as well as evaluating the overall financial statement presentation.
View the Fiscal Year 2022 Annual Comprehensive Financial Report (ACFR).
View the Fiscal Year 2022 Single Audit.
Development Impact Fee Annual Report
Development Impact Fees are created under Assembly Bill 1600 (AB 1600), also known as the Mitigation Fee Act. AB 1600 requires agencies to report annually on the fees collected and their use.
The Mitigation Fee Act requirements dictate that within 180 days after the last day of each fiscal year, agencies must make the following information available for each fee:
- The beginning and ending balances in each fee account
- The fee amounts collected during the preceding year
- The projects the fees were used for and the percentage of the total project costs funded with fees
- The expected start date for construction on improvements the fees will fund
- A description of any inter-fund transfers or loans, the interest the account will receive for the loan, and the date on which the loan will be repaid
View the Fiscal Year 2022 Development Impact Fee Annual Report