FY 17 Citizens' Annual Financial Report

Report Overview About the Cover GFOA Award The fiscal year 2017 (FY17) Citizens’Annual Financial Report provides citizens and other interested parties with a user-friendly overview of the City’s financial results. This report is prepared to increase awareness of the City’s financial operations. The financial information is obtained from the audited financial statements in the City’s FY17 Comprehensive Annual Financial Report (CAFR), or formal annual report. The Citizens’ Annual Financial Report is not required to present the same level of detail as the CAFR and, therefore, may not fully conform to generally accepted accounting principles (GAAP). This report, in a summarized version, highlights the overall financial condition and trends of the City. The FY17 CAFR is audited by Cherry Bekaert LLP and has received an unmodified or “clean” audit opinion. This report may be viewed on the City’s website at http://www.raleighnc.gov/business/content/Finance/Articles/ FinanceReports.html Pictured on the cover is a scenic view of Raleigh’s Lake Johnson park. The Government Finance Officers Association (GFOA) represents public finance officials throughout the United States and Canada, whose shared mission is to promote excellence in state and local government financial management. The City of Raleigh participates in the GFOA Award Program for Outstanding Achievement in Popular Annual Financial Reporting. The award shown is for last year’s report. 2 Award for Outstanding Achievement in Popular Annual Financial Reporting Presented to City of Raleigh North Carolina For itsAnnual Financial Report for the FiscalYear Ended June 30, 2016 G O V E R N M E N T F I N A N C E O F F I C E R S A S S O C I A T I O N OFTHE UNITEDSTATES AND CANADA CORPORATION Executive Director/CEO GovernmentFinanceOfficersAssociation