At the end of each fiscal year, the Retirement Fund engages an independent auditor to perform an audit of the Retirement Fund’s financial statements. The auditor is asked to determine if the Retirement Fund’s financial statements are prepared in accordance with generally accepted accounting principles. The auditor’s review considers the design, implementation, and maintenance of the Retirement Fund’s internal controls relevant to the preparation and fair presentation of financial statements to help determine that they are free from material misstatements, whether due to fraud or error. Audit reports are available below beginning for the fiscal year ending in 2012.
Additionally, beginning in 2014, the Retirement Fund began preparing a Comprehensive Annual Financial Report (CAFR) complying with the Government Finance Officers Association (GFOA) format in order to help heighten transparency into the Retirement Fund’s financial condition. Each Comprehensive Annual Financial Report for the years beginning with 2014 is available below. The Retirement Fund received the GFOA’s prestigious Certificate of Achievement for Excellence in Financial Reporting for its 2016, 2017, 2018, and 2019 Comprehensive Annual Financial Reports.
Please note that, in accordance with GFOA guidance, the Retirement Fund will refer to each Comprehensive Annual Financial Report as the Annual Comprehensive Financial Report (ACFR) beginning with the 2020 publication.