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PRELIMINARY BUDGET DOCUMENTS

LATEST APPROVED BUDGET

BUDGET & BUDGET REPORTS

The Budget Division is responsible for the planning, compilation, and implementation of the budget for the City.

This budget process includes:

  • Expenditure analysis and revenue forecasting (Starting in November)
  • Providing budget training and budget request instructions to Departments (January)
  • Coordinating with the Community Investment Department to complete the Five-Year CIP (February)
  • Review budget submittals and meet with Departments (March)
  • Hold City Council CIP and Budget Work Sessions (April & May)
  • Adoption of Five-Year CIP and Tentative Budget (1st Council Meeting  in June)
  • Adoption of Final Budget  (Last Council Meeting in June)
  • Begin new fiscal year (July 1st)
  • Adoption of Property Tax Levy (1st Council Meeting in July)

Budget preparation allows departments the opportunity to reassess goals and objectives and the means for accomplishing them. Even though the budget may be heard by the Mayor and City Council in May and adopted in June, its preparation begins at least six months prior, with projections of City reserves, revenues, expenditures, and financial capacity. Forecasting is an integral part of the decision making process. Both long and short range projections are prepared. A five-year financial forecast is prepared for each major fund projecting both revenues and expenditures.

BUDGET DOCUMENTS
BUDGET LEGAL SCHEDULES

ACCOUNTING & FINANCE REPORTS

The Finance Division operates as a support area within Lake Havasu City and is a division within the Administrative Services Department.  The services provided include accounts payable, accounts receivable, financial analysis, capital asset tracking, revenue management, payroll, treasury functions, and financial reporting.  The division is responsible for preparing financial reports.

In performing a wide variety of functions, our Finance team strives to always provide a quality service to our over 53,000 citizens of Lake Havasu, 450 employees within the City and, to City Management and the City Council.

The City’s fiscal year is July 1 through June 30.

STAFF
Trinna Ware - Division Manager - Finance (928) 854-0735 waret@lhcaz.gov
Finance finance@lhcaz.gov
Tax and TPT License
(928) 854-0742taxinfo@lhcaz.gov
Investment investment@lhcaz.gov
Sewer Payoff sewerpayoffs@lhcaz.gov
Administration (928) 855-2116
Accounts Payable (928) 854-0730accountspayable@lhcaz.gov
POPULAR ANNUAL FINANCIAL REPORT (PAFR)

The Popular Annual Financial Report (PAFR) provides an overview of the City’s financial results in an easy-to-understand format.

Click the links below to view in flipbook format.

Click the links below to download the PDF version.

COMPREHENSIVE ANNUAL FINANCIAL REPORTS (CAFR)

The City’s Comprehensive Annual Financial Report, also referred to as the CAFR, is submitted in accordance with Arizona Revised Statutes, Section 9-481.  The financial statements are audited by an independent CPA firm and the most current statements for the year ended June 30, 2016, received an unmodified (“clean”) opinion.

Click the links below to view in flipbook format.

Click the links below to download the PDF version.

SINGLE AUDIT REPORTS

The Single Audit Report is an audit of the City's major program expenditures of federal funds for compliance with the Federal Single Audit Act.

ANNUAL EXPENDITURE LIMITATION REPORT (AELR)

The Annual Expenditure Limitation Report is presented as required by the Arizona Revised Statute, Section 41-1279.07.

ANNUAL DEVELOPMENT FEE REPORTS

The Annual Development Fee Report presents the annual financial impact of the City’s Development Fee remaining fund balances.  In October of 2011, the City council eliminated the collection of impact fees for capital facilities.