Audited Financial Statements
The Town of Fairfax undergoes an annual audit to report information on local government financial affairs and to ensure compliance with government accounting standards and practices. Local government has very stringent reporting and accounting standards that require full disclosure of financial affairs to the public it serves. The Town’s annual audit serves as the basis for all reports or disclosures necessary for a reader to understand the financial condition of the Town. The Town’s fiscal year is from July 1 to June 30 of the following year.
Monthly Interim Financial Reports
The monthly reports provide a snapshot of ongoing financial activity on a cash basis. The revenue and expense reports present a comparison of monthly and year-to-date activity to the budget.