Financial Reports

Annual Comprehensive Financial Report (ACFR)

The Annual Comprehensive Financial Report (ACFR) is prepared in accordance with standards prescribed by the Governmental Accounting Standards Board (GASB), and includes an introduction, a complete financial report, an independent auditor’s evaluation and financial statistics. The report’s financial section includes management’s discussion and analysis, basic financial statements and required supplementary information. The statistical section includes select financial and demographic information, typically presented on a multi-year basis. The purpose of this report is to provide the Mayor, City Commission, staff, citizens, bondholders, and other interested parties with useful information concerning The City’s operations and financial position. With a fiscal year end of December 31, the 2023 report is the most recent date of the independent auditor’s report.

The 2023 Annual Comprehensive Financial Report can be viewed as one file.

Single Audit Report

The Single Audit Report is a federally mandated audit to be conducted for any non-Federal entity that expends $750,000 or more per year in Federal awards. The Schedule of Expenditures of Federal Awards (SEFA) represents all federal programs of The City of Fargo. Annually, the audit is conducted by our independent auditor, and its objectives are both financial and legal compliance of the grants.

The 2023 Schedule of Expenditures of Federal Awards can be viewed as one file.

Government Finance Officers Association (GFOA) Certificate of Achievement

The Government Finance Officers Association (GFOA) awarded the Certificate of Achievement for Excellence in Financial Reporting to The City of Fargo for its annual comprehensive financial report. The City is proud to have received the certificate annually since 1998. The Certificate of Achievement is a prestigious national award, recognizing conformance with the highest standards for preparation of state and local government financial reports. To be awarded the certificate, a government unit must publish an easily readable, timely and efficiently organized Annual Comprehensive Financial Report.

Prior Year Reports