City of Ozark - Fiscal Responsibility

Every year, the City of Ozark is required to conduct an audit by certified public accountants. If you have any questions or concerns, you may contact the Finance Director, Mary Edna Wilson, by email.

Financial Reporting FAQs

What is a ACFR?

ACFR is an acronym for Annual Comprehensive Financial Report. This report consists of three sections: An Introductory Section, a Financial Section, and a Statistical Section.

Has the City of Ozark prepared a ACFR?

Beginning with the audit for FY2018, the City has begun preparing a ACFR

What is included in the sections that are not required by GAAP?

The Introductory Statement has fewer constraints than the other two sections. It is more or less a place where an entity can put information that is deemed important for the reader, but does not fit in any other section. This section commonly includes a letter of transmittal, the prior year Certificate of Achievement for Excellence in Financial Reporting, a list of Principal Officials, and an Organizational Chart. The Statistical Section uses information from the most recent 10 years of financials to determine, how financial position has changed over time, factors affecting the ability to generate revenue, existing debt burdens and the ability to take on new debts, demographic and socioeconomic changes, and to provide information about operations and resources.

Are the Financial Statements prepared by the City of Ozark available to the public?

Yes! The links are above. We are proud to have earned the opinion from our Auditor that our financial statements “present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information …and the respective changes in financial position and, where applicable, cash flows thereof…”