Independent audit
Folsom, Calif.- The City of Folsom continues to uphold its commitment to strong financial stewardship, earning the highest level of standard for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ending June 30, 2024.
The independent audit, conducted by Badawi & Associates Certified Public Accountants, confirms the city’s financial statements are accurate and comply with generally accepted accounting principles. The ACFR provides a detailed overview of the city’s financial health, including audited financial statements, revenues, expenditures, and financial planning.
The ACFR follows the Governmental Accounting Standards Board financial reporting requirements and aligns with Government Finance Officers Association (GFOA) guidelines.
Each year, the city submits its ACFR for consideration in the GFOA Certificate of Achievement for Excellence in Financial Reporting program. Folsom earned this prestigious recognition for Fiscal Year 2022-23 and expects to receive it again this year.
The full Annual Comprehensive Financial Report is available below.
