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Canada (GFOA) award for 29 consecutive years. For the last four consecutive years, the Town has received the GFOA award for the Distinguished Budget Presentation. To earn these awards, the Town must produce easily readable and efficiently organized budget and CAFR, whose contents conform to program standards. Such reports must satisfy both generally accepted accounting principles and accepted legal requirements. In addition, the Town’s Citizens’ Financial Report for the fiscal year ended June 30, 2017 received the award for Outstanding Achievement in Popular Annual Financial Reporting. The award is valid for a period of one year. Wake Forest received the award for the first time with its initial submission to GFOA for consideration. View the budget and other reports. The
Comprehensive Annual Financial Report (CAFR) is the official statement of the Town’s financial position at the close of the fiscal year. The Citizens’ Financial Report also known as the Popular Annual Financial Report (PAFR) is designed to provide a summary of the Town’s overall financial condition in a user-friendly format. The Annual Operating Budget is the Town’s projected spending plan. The Capital Improvements Plan (CIP) is a five-year plan that identifies the Town’s capital outlay and improvement needs. This plan is updated annually. Each of these reports can be viewed at wakeforestnc.gov, search “financial reports.” How does the Town determine the annual budget?
The Town’s budget is drafted and adopted as required by North Carolina General Statutes. A public hearing is held each year in March to receive input on budget needs. The town manager and the chief financial officer then review budget requests from each of the department directors. When finalized, the recommended budget is presented to the board of commissioners and another public hearing is held. After work sessions with the commissioners the new budget is adopted in late June. Contact the Finance Department: The Finance
Department is located on the first floor of Wake Forest Town Hall, 301 S. Brooks St. ☎ 919-435-9400. For questions about the Town’s financial reports, contact Chief Financial Officer Aileen Staples ☎ 919-4359461, astaples@wakeforestnc.gov, wakeforestnc. gov, search “finance .”
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