Page 3 - PAFR 2023

2018
Dear Citizens,
The City of Post Falls Financial Services Department is proud to present the “popular” form of the
City’s Annual Comprehensive Financial Report, the Popular Annual Financial Report (or PAFR).

The City’s award-winning PAFR is a user friendly report of our City’s financial operations in 2023.
The audited financial report of City financials is the City’s ACFR . The average citizen may find it
difficult to interpret the vast amount of data in the ACFR. The PAFR is designed to make the City’s
basic finances easier to understand and to communicate to our citizens where City dollars come from
and how they are spent.

Much of the information in the PAFR comes from the City’s FY 2023 ACFR. Under State law, the
ACFR is prepared annually by City staff in accordance with Generally Accepted Accounting
Principles, or GAAP. The City’s financial statements are then audited by an independent third-party
professional accounting firm (Alpine Summit CPAs). This step provides a level of assurance to the
Mayor, the City Council, the financial community, and citizens-at-large that these financial statements
are free of material misstatement. Based on the audit, Alpine Summit CPAs concluded, in an
unmodified opinion (meaning without reservation of any kind), that the City of Post Falls’ financial
statements for the fiscal year ended September 30, 2023 are fairly presented and in conformity with
GAAP. This opinion, its accompanying financial statements, and its Management Letter, containing a
concise statement of areas where financial management practices could be improved, are presented
in depth by officials Alpine Summit CPAs to the City’s Finance Department. Subsequently, the audit
report is then presented to the Mayor and City Council as part of a regular Council Work Session
agenda item.

The PAFR , or citizen’s report, is intended to complement
the ACFR, not be a substitute for it. For a complete review
of the City’s financial status for the recently concluded fiscal
year, the FY 2023 ACFR and FY 2023 budget documents
can be found on the City’s website at https://
www.postfalls.gov/departments/finance-support-services/, or
copies may be obtained from the Finance and Support
Services Department. We will be pleased to respond to any
questions on this publication, the ACFR, and current budget
documents.

Jason Faulkner
Finance and Support Services Department

Finance Director / Treasurer
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