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Glendale finance staff present 2024 audited financial highlights; city retains strong bond ratings
Summary
City finance staff summarized key figures from the audited Annual Comprehensive Financial Report (ACFR) for fiscal year 2024, reporting an improved net position, recent bond issuances, and credit rating upgrades; staff said the city remains below Arizona’s constitutional expenditure limitation.
Assistant City Manager Vicki Rios and finance staff presented highlights from the city’s audited Annual Comprehensive Financial Report for fiscal year 2024 at the Jan. 28 workshop.
Megan Smith, finance manager, and Megan Elgin, city controller, summarized that the ACFR is prepared under U.S. generally accepted accounting principles (GAAP) and includes statements of net position, changes in fund balance and notes; the ACFR and single‑audit schedules are audited by CliftonLarsonAllen. Elgin said the city earned the…
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