ACFR | P.A.G.E.

Annual Comprehensive Financial Report (ACFR)

What is an ACFR?

Every year, most government organizations within the United States publish an Annual Comprehensive Financial Report, generally referred to as a ACFR, performed by an independent auditor and fully detailing the financial status of that government organization.

It contains details about all of the government's financial activities, including its balance sheet (like assets and debt liabilities), expenditures (such as employee salaries or infrastructure costs), and revenues (taxes, grants, service fees, etc.).

Simply put, the purpose of the City of Pocatello ACFR is to provide accurate and meaningful information concerning the City's financial condition and performance.

What are ACFR Requirements?

There are 3 statutory requirements P.A.G.E. has found in relation to these audits.

1. Legislative Services Office (67-450B): Audits to be completed within 9 months (or June 30th)

2. State Controllers Office (67-10.76): Along with other required budgetary documents, a copy of the most recent (previous year's) audit is due by December 1st of each year. (Example, FY24 audit is due to this office on 12/01/25)

3. Bond Bank Authority (per bond agreement contract): A copy is due to this office within 6 MONTHS or March 31st. "This requirement ends with FY21" since only the 2012-D bond agreement contained this requirement and the bond has been paid in full.

Is the City of Pocatello Compliant with ACFR Deadlines?

The City of Pocatello was DELINQUENT with the Idaho Bond Bank Authority (IBBA) requirements for FOUR (4) audits (FY18, FY19, FY20, FY21). That requirement was removed when they paid off their 2012-D bond.

The city was delinquent with meeting the statutory requirement under 67-450B for the following audits:

FY2020 (10/01/19-09/30/20) - completed December 2021/5+ months late

FY2021 (10/01/20-09/30/21) - completed June 2023/ 12 months late

FY2022 (10/01/21-09/30/22) - completed January 2024/ 6+ months late

FY2023 (10/01/22-09/30/23) - completed Sept 2024 /3 months late

FY2024 (10/01/23-09/30/24) - DUE 06/30/25

Per state statute 67-1076: The state controller may impose a late fee for each day over said thirty (30) days that the local governmental entity has failed to provide the information required under this section. The late fee may be in the amount of up to five hundred dollars ($500) per day and is immediately payable from the local governmental entity to the state controller’s office, which shall deposit the fee in the state general fund.

Click on graphic to the right for larger graph.

CITY OF POCATELLO, IDAHO

ANNUAL COMPREHENSIVE FINANCIAL REPORT

WITH AUDITED GOVERNMENT WIDE FINANCIAL STATEMENTS

FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2022