Financial Condition and Reporting
The financial information presented here is summarized and does not substitute for the City's Comprehensive Annual Financial Report (CAFR). The CAFR details the City's financial position and operating activities for each year in conformity with generally accepted accounting principles. This Citizen's Report, by its summary nature, is not intended to conform to generally accepted accounting principles and associated reporting standards set forth by applicable governing bodies. Gainesville Regional Utilities (GRU), a major component of our organization, issues a separate report in compliance with its bond requirements. GRU financial information is not included in this report. The financial information presented in this report also excludes the City's discretely presented component units, Gainesville Community Redevelopment Agency (CRA) and Gainesville Enterprise Zone Development Agency (GEZDA).

Certain presentations of financial data also exclude other general government funds, as described in each schedule or graph. Some statistical information is derived from the City's Financial and Operating Plan (annual budget). Both the budget and the CAFR have received awards for outstanding financial reporting from the Government Finance Officers Association. City documents are available at the Alachua County Library and on the City's Web site..

This financial summary and history is based upon a condensed view of the City's assets and liabilities for only the General Fund of the City at a specific point in time, September 30, 2007, which is the end of the City's fiscal year.