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Accounting
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The Accounting Division is responsible for the development, maintenance and administration of the City's accounting system. Preparation of the City's Comprehensive Annual Financial Report (CAFR) and other periodic financial reports and the implementation and maintenance of accounting controls over the the City's financial resources are also responsibilities of the division. Other Accounting Division functions include: payroll, accounts payable, general ledger accounting, grants, capital projects, fixed assets, financial reporting, and accounts receivable. The Division ensures compliance with Generally Accepted Accounting Principles (GAAP) and applicable federal, state, and local laws and regulations.
The City's accounting records for general governmental operations are maintained on a modified accrual basis, with revenues being recorded when available and measurable and expenditures being recorded when the liability is incurred. Proprietary operations are maintained on a full accrual basis.
The City's latest fiscal year 2007 Comprehensive Annual Financial Report was submitted to the Government Finance Offers Association (GFOA) for participation in their Certificate of Achievement for Excellence in Financial Reporting Program, an award which the City of Garland has received for the past 27 consecutive years (fiscal years 1979 - 2006).
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