City of Edmond Popular Annual Financial Report 2020

POPULAR ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 2020

CITY OF EDMOND, OKLAHOMA ABSOLUTELY POSITIVELY EDMOND CITIZEN'S REPORT

CLICK HERE TO SEE THE ANNUAL COMPREHENSIVE FINANCIAL REPORT (ACFR) FOR THE FISCAL YEAR ENDED JUNE 30, 2020

TA B L E O F

CONTENTS Director’s Letter 2

Edmond's Numbers 13

City Council & Ward Map 4

General Fund 16

Statement of Net Position 6

Long-Term Debt 20

Change in Net Position 8

Economic Outlook 24

Pension/OPEB 10 Edmond's Sales Tax 12

1

LETTER TO

EDMOND CITIZENS

Citizens of Edmond, As part of our continuous effort to keep you informed on the utilization of your tax dollars, we are pleased to present our Popular Annual Financial Report (PAFR) for the fiscal year ending June 30, 2020. This report is a condensed version of our Comprehensive Annual Financial Report (CAFR).

Both reports are available on our website at www.edmondok.com.

The details in the PAFR summarize our financial position based on the audited financial documents contained within the 2020 CAFR. The CAFR is prepared in accordance with generally accepted accounting principles (GAAP). This report is in summary form and excludes the City’s discretely presented component units which are the Edmond Economic Development Authority (EEDA) and the Edmond Historical Preservation Trust (EHPT).

The information included in this report is an overview of the City’s economic outlook, an analysis of the financial position of the City, and other key financial data. It provides analysis of the General Fund and discusses how money is received and spent. Additional detailed financial information on the operations of the City may be found in the CAFR. The City has two primary sources of revenue: utility services and sales tax.

In 2020, we were faced with the challenge of dealing with an unprecedented global pandemic from the COVID-19 virus. Even with this new challenge, the City continued to see strong sales tax receipts. Our local merchants adapted to the changing environment by following social distancing recommendations, mask ordinances and implementing options such as curb side service. Our local restaurant merchants offered outdoor seating to maintain social distancing while providing quality service to our citizens. We worked with our utility customer base to assist those facing financial hardships due to the pandemic. Overall, sales tax revenue exceeded our expectations as residents began working from home and shopping locally. We appreciate and value the support of our Edmond citizens. More detailed information about the City’s sales tax collections can be found in the CAFR.

Water improvements continue as outlined in the City of Edmond Water Master Plan located on the City website. The Master Plan is our road map to keep pace with the anticipated growth in our population and to continue to provide a safe water supply for Edmond residents. The Edmond Tennis Center Court opened in 2020. This Center was a joint project with the Edmond Public School District and we are honored to have a healthy relationship with other local government agencies to provide state of the art facilities to our patrons. Infrastructure improvements continue at many of our major intersections with street widening and intelligent traffic light systems as we continue to see steady growth in construction and population.

Thank you for taking interest in your local government. As you review the report, we invite you to share any questions, concerns or comments with us. You may contact the Financial Services Department at (405) 359-4521, visit the City Manager’s office at 24 E. First Street in Edmond or contact us by email. Email addresses and further information is available at the City website: www.edmondok.com.

Respectfully submitted,

Kathryn L. Panas, CPA Director of Finance

2

Nestled on historic Route 66 in central Oklahoma, Edmond covers approximately 87 square miles and is the third largest city in the Oklahoma City Combined Statistical Area (CSA). The City has adopted a charter and operates under a Council-Manager form of government. The city features quiet suburban living with a central business district, major shopping and modern office areas, and hosts a multitude of recreational and cultural events throughout the year.

3

CITY OF EDMOND

COUNCIL

TRUSTWORTHY SERVICE T H R O U G H C O N T I N U O U S I M P R OV E M E N T

OUR CORE VALUES

Dan O'Neil Mayor | May 2020–21 dan.oneil@edmondok.com

Accountability | We are responsible for our work, our words, and our actions.

Communication | We value efforts to communicate with our customers in a caring, timely, professional manner.

Customer Service | We provide service with courtesy, respect, dependability, flexibility, and timeliness.

Inclusion | We promote an inclusive work force and equitable services for our increasingly diverse community.

Innovation | We value innovation, creative thought, and the collaboration of ideas.

Integrity | We value the spirit of integrity in all aspects of our working lives.

Professionalism | We continue to seek growth, striving to be a learning organization.

Teamwork | We encourage diversity of thinking, ideas, and responsibilities.

David Chapman

Josh Moore

Darrell Davis

Nick Massey

Council Member Ward 1 May 2020–23 david.chapman@edmondok.com

Council Member Ward 2 May 2020–23 josh.moore@edmondok.com

Council Member Ward 3 May 2017–21 darrell.davis@edmondok.com

Council Member Ward 4 May 2017–21 nick.massey@edmondok.com

4

Choctaw

Henney

Hiwassee

Anderson

Westminster

Post

Douglas

Midwest

Air Depot

Sooner

Coltrane

Bryant

Boulevard

Kelly

Santa Fe

Br o ad

w ay E

x t ens

I-35 ion

WARD 3 33rd

WARD 2 WARD 4 Covell

Western

Pennsylvania

Sorghum Mill

WA R D M A P CITY OF EDMOND

Waterloo

Coffee Creek

Danforth

WARD 1 Edmond

15th

Memorial

5

S TAT E M E N T I N

NET POSITION

The governmental activities net position for fiscal year ending June 30, 2020, reflect an increase over prior year's net position. The business-type activities also reflect an increase in net position. The full disclosed Statement of Net Position can be located in our CAFR located at edmondok.com/budget/reports.

Unrestricted net position refers to all other net position that is not restricted or net investments in capital assets. This represents the amount of unexpended and available resources the City has in funds combined at a point in time to fund emergencies, shortfalls or other unexpected needs. This allows management to track the City's financial position over time.

Governmental Activities

Business-Type Activities

Totals

$ in Thousands

2020

2019

2020

2019

2020

2019

$ 1 24 , 8 7 9

$103,94 4

$ 242 , 1 9 4

$292,998

$366,073

$ 3 9 6 , 9 42

340,545

3 3 7, 5 0 1

4 5 0 , 14 3

3 7 9, 4 0 2

790,688

716,903

8,801

10,553

43,106

3 9, 14 3

51,907

49, 6 9 6

474 , 2 2 5

4 51,998

734,4 43

711,543

1,208,668

1 , 1 6 3 , 5 41

Deferred Outflows

23,856

21,603

3,565

2,887

2 7, 42 1

24 , 49 0

Current liabilities

28,4 51

28,885

30,138

3 7, 1 2 3

58,589

66,008

Non-current liabilities

93,816

9 7, 5 4 3

2 5 8 , 42 7

2 6 1 , 1 24

3 5 2 , 24 3

358,667

Total liabilities

122,267

1 2 6 , 42 8

288,565

2 9 8 , 247

41 0 , 8 3 2

424 , 6 7 5

Deferred Inflows

7, 8 47

7, 2 1 3

654

706

8,501

7, 9 1 9

3 1 3 , 5 49

302,959

2 3 6 , 8 41

230,309

550,390

533,268

72,384

54,830

24 , 0 1 9

2 3 ,7 2 7

96,403

78,557

(17, 9 6 6 )

(17, 8 3 0)

1 8 7, 9 3 0

1 6 1 , 4 41

1 6 9, 9 6 4

14 3,611

$ 3 6 7, 9 6 7

$ 3 3 9, 9 5 9

$ 4 4 8 ,7 9 0

$ 41 5 , 47 7

$ 8 1 6 ,7 5 7

$755,436

Current assets Capital assets, net Other non-current assets Total assets

Net position Net Investment in capital assets Restricted Unrestricted (deficit) Total net position

6

NET POSITION

UNRESTRICTED

( 18 ( $

g ov e r n m e n ta l ac t i v i t i e s Sales tax, franchise fees, fines, state and federal grants finance most of the City's services.

m i lli o n

General Administrative Services Fire Police Street Construction & Repair Park Maintenance

$

188

m i lli o n

b u s i n e s s - t y p e ac t i v i t i e s Income from resident utility bills, public golf course and lake fees finance business-type operations.

Electricity

Solid Waste

Water

KickingBird Golf Course

Drainage

Arcadia Lake

Wastewater

Transportation Services

This number represents the Unrestricted Net Position to pay for emergencies, shortfalls or other unexpected needs in both the Governmental and Business Type Activities for the fiscal year ended June 30, 2020. New reporting standards implemented in 2016 caused our Governmental Activities to report a negative in Unrestricted Net Position. For full disclosure, refer to our CAFR, Note 4 at www.edmondok.com/budget/reports.

7

CHANGE IN

NOTES The results indicate the City, as a whole, experienced an increase in total net position of $61 million which was a combination of overall expenses staying relatively in line with revenue collections. *Does not include transfers.

This summary report excludes transfers.

Transfers are used to support Government services. For full disclosure see our CAFR note section 3.F Interfund Balances and Activities.

NET POSITION

g ov e r n m e n ta l ac t i v i t i e s * The City’s governmental activities’ increase in net position of $28.0 million represents a 53% increase from the prior year’s change in net position and is primarily the result of an increase in operating grants and contributions related to donations and CARES Act Grant funding and an increase in transfers from other funds. The increase in transfers is due to an increase in the transfer of pledged revenue and an increase intransfer of funds for capital projects.

b u s i n e s s - t y p e ac t i v i t i e s * The business-type activities’ increase in net position of $33.3 million represents a 5% increase from the prior year’s change in net position which is largely attributable to the decrease in expenses.

140,000 120,000 100,000 80,000 60,000 40,000 20,000 In Thousands

$0 2016

2017

2018

2019

Revenues

2020

Expenses

200,000 150,000 100,000

50,000 In Thousands

$0 2016

2017

2018

2019

Revenues

2020

Expenses

8

I N C R E A S E I N T O TA L

$

NET POSITION

61

million

A combination of overall expenses staying relatively in line with revenue collections.

9

PENSION/OPEB Pension Liability Reported

Oklahoma Firefighters Pension and Retirement System reported: Liability of $41,833,083

As of June 30, 2020

Oklahoma Police Pension and Retirement System reported:

Liability of $-

City of Edmond Employees’ Retirement System reported:

Liability of $25,845,619

c h a n g e s i n t o ta l o p e b l i a b i l i t y

Balance at Beginning of Year

$5,835,112

Sensitivity of the City's total OPEB Liability to changes in the discount rate The following presents the City’s total OPEB liability, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (2.50 percent) or 1-percentage-point higher (4.50 percent) than the current discount rate:

Changes for the Year Service Cost

$302,450

Interest Expense

$ 2 3 7, 5 2 5

Differences in Expected & Actual Experience

$ 2 17, 8 5 2

Changes in Assumptions

$ 2 5 4 , 6 76

Benefits Paid

$ ( 2 0 7, 8 5 2 )

Net Changes

$80 4,6 51

Balances End of Year

e m p l oy e r ' s t o ta l o p e b l i a b i l i t y 1% Decrease (2.50%)

Current Discount Rate (3.50%)

1% Increase (4.50%)

$7,944,943

$6,639,763

$5,617,907

$ 6 , 6 3 9,76 3

10

PENSION/OPEB o p e b l i a b i l i t y /ac t u r i a l a s s u m p t i o n s The total OPEB liability was determined based on actuarial valuation performed as of June 30, 2019 which is also the measurement date.

The total OPEB liability in the June 30, 2019 valuation, was determined using the following actuarial assumptions:

•

Actuarial Cost Method - Entry Age Normal

•

Discount Rate - 3.50% based on the 20 year municipal bond yield

•

Retirement Age - Civilians - 55 with 7 years of service, Police and Fire 20 years of service

•

Medical Trend Rates

year

rate

2019 6.02%

2020 5.99%

2030 5.99%

2035 5.87%

2040 5.33% 2045

5.15%

2050

5.03%

2060

4.87%

11

E D M O N D ' S S A L E S TA X CI T Y S ERV I C ES The City provides a wide range of municipal services, including police and fire protection, the construction and maintenance of highways, streets, and other infrastructure. The City also provides electric, water, wastewater, drainage and solid waste services to its residents under the legal entity of the Edmond Public Works Authority (EPWA). The City also provides a multitude of recreational and cultural events throughout the year. The City’s Kickingbird Golf Course, Arcadia Lake and many City parks provides hours of entertainment to our citizens.

An ordinance passed and approved by the citizens of Edmond requires that 30% of General Fund revenues(defined as taxes, licenses and permits, fines and forfeitures, charges for services, interest and miscellaneous revenues) be used for funding fire department operations and that 36.8% of these same General Fund revenues be used for funding police department operations.

SUPPORTS CITY SERVICES

8.25

%

surrounding cities 8.85% Mustang 8.85% Yukon

8.625%

9.1%

Oklahoma City Midwest City

8.50% Moore 8.75% Norman

s a l e s ta x b r e a k d ow n The State of Oklahoma tax rate is 4.5% and is added to the 3.75% City’s sales tax rate that is levied on all taxable sales within the City. It is recorded as follows:

One quarter cent recorded as revenue within the Fire Public Safety Limited Tax Fund to account for improvements to the fire department per voter approval.

Two cents recorded within the General Fund.

One eighth cent recorded as revenue within the Police Public Safety Limited Tax Fund to account for improvements to the police department per voter approval.

One eighth cent recorded as revenue within the Park Sales Tax Fund to account for operations and facility improvement costs of the City’s park and recreation system.

Three quarter cent recorded as revenue within the 2000 Capital Improvement Tax Fund to account for capital improvements as recommended to the City Council by the Capital Projects & Financing Task Force.

One half cent recorded as revenue within the 2017 Capital Improvement Tax Fund for various capital improvements. This fund replaces the 2012 Public Safety Center Capital Improvements Tax Fund. This was voted on by our voters in April 2016 and will continue for 10 years.

12

MONEY COMES AND MONEY GOES WHERE DOES THE MONEY COME FROM?

WHERE DOES THE MONEY GO?

g ov e r n m e n ta l r e v e n u e by s o u r c e

g ov e r n m e n ta l ac t i v i t i e s u s e s 2 % 1%

4% 14%

18%

9% 8% 58%

71%

2%

13%

Sales Tax

Public Safety (Fire & Police)

Other Taxes

General Government

Charges for Service

Culture, Parks and Recreation

Grants

Streets and Highways

Other

Health and Welfare Interest on Long-Term Debt

13

36

m e d i a n p o p u l at i o n ag e

539

residential new building permits i s s u e d i n c a l e n da r y e a r

2020

14

3.0

%

u n e m p l oy m e n t r at e

9 5 K+ 2020

c i t y o f e d m o n d p o p l u l at i o n

15

GENERAL

NOTES

FUND

general fund revenues

The General Fund is the primary operating fund for City services. It is used for all activities except those legally or administratively required to be accounted for in other funds. $50,000,000

$45,000,000 $40,000,000

2 02 0

2019

2 018

2 017

2 016

Sales and Use Taxes

48,939,746

46,328,395

41 , 601 , 211

3 8 , 69 3 ,158

3 8 ,18 6 , 53 5

Charges for Services*

6,166,114

6,453,165

6 , 0 54 , 249

6 ,78 0 ,18 8

5 , 3 97,4 8 0

Fines and Forfeitures

1,653,304

1,854,649

1 , 628 ,74 0

2, 267,734

1 , 641 , 28 3

Franchise & Public Service Tax

2,075,062

2,121,326

2,173 , 0 68

2,142, 557

2, 281 ,49 0

Intergovernmental

1,957,033

1,793,530

1 , 819, 58 3

1 ,976 , 671

1 ,9 82, 59 0

Licenses and Permits

1,625,110

1,544,064

1 ,4 46 ,4 43

1 ,4 52,924

1 ,412, 552

Miscellaneous

182,135

167,303

222, 0 53

14 8 , 255

243 , 3 55

Investment Income

222,643

257,128

73 ,971

4 4 , 619

73 ,131

62,821,147

60,519,560

55,019,318

53,506,106

51,218,416

$35,000,000 30,000,000 25,000,000

general fund expenditures

20,000,000

2 02 0

2 019

2 018

6,818,355

6,373,715

5,545,128

5,370,175

5,828,765

2,958,977

3,015,627

2,987,164

2,955,869

2,988,821

729,418

710,882

692,581

648,896

647,276

Culture, Parks and Recreation

4,212,845

4,088,628

4,078,792

3,718,180

3,609,872

Streets and Highways

6,343,809

6,280,570

5,488,301

5,377,604

6,354,224

General Government Public Safety Health and Welfare

5,000,000 $0

15,000,000 10,000,000

2016

2017

Sales and Use Taxes All other Revenues

2018

2019

2020

Capital Outlay

2 017

2 016

671,465

1,012,056

455,971

2,027,680

937,712

21,734,869

21,481,478

19,247,937

20,098,404

20,366,670

*Per City ordinance, 30% of General Fund revenues are transferred and used for funding the Fire Department operations and 36.8 % of these same revenues will be used for funding Police Department operations. For more information, refer Basic Financial Statements in CAFR, page 33.

.

16

GENERAL FUND general fund revenues Sales and Use Taxes Of the 3 3/4 cent sales tax on taxable sales within the City, 2 cents is recorded as revenue in the General Fund. Use tax is if you have purchased items for use in Oklahoma from retailers who do not collect Oklahoma from retailers who do not collect Oklahoma sales tax, you owe Oklahoma use tax on those items.

Use tax is paid by the buyer when the Oklahoma sales tax has not been collected by the seller. This includes purchases made from an out-of-state retailer whether by mail order, catalog, television shopping networks, radio, Internet, phone or in person.

Charges for Services Includes all revenues collected on services provided through the General Fund, such as planning filing fees, cemetery revenues, right of way, animal welfare welfare fees, 911 service fee, aquatic center admissions season passes, recreation program fees and other miscellaneious charges.

Fines and Forfeitures Includes all court fines and fees, and building code violations.

Franchise and Public Service Taxes Includes fees assessed for private use of public property.

E X P L A N AT I O N O F T E R M S

Intergovernmental Activities of two or more governments including revenues such as alcoholic beverage tax, cigarette tax, county-property resale, grants, commercial vehicle tax, and gasoline excise tax.

Licenses and Permits Includes all permits and licenses required by the City including engineering inspections fees, occupational licenses, oil and gas feed, public safety revenues including plumbing, building, elecrical, heat/air, furniture stocking, fixture stocking, fire permits, miscellaneous permits, contracor registration, reinspection fees, temporary certificate of occupancy, building inspection feed, sign permits, and commercial plan review fees.

Miscellaneous Items that are not covered by any of the aforementioned categories.

Investment Income Revenue earned brom our investments portfolio.

general fund expenditures

Public Safety Expenditures within the funds that supports the safety of our citizens, such as police, fire, emergency management, and animal welfare.

Health and Welfare Includes code enforcement, family services, and social services.

Culture, Parks and Recreation Includes maintenance and administration of 26 parks/playgrounds, pool, splash pad, sports fields, Festival Marketplace, recreation programs, Senior Center, Gracelawn Cemetery, and Edmond Historical Preservation and Trust.

Streets and Highways Street rehabilitation and resurfacing, and upkeep of the medians.

Capital Outlay Expenditures for assets that are intended to be held or used for a extended period of time. Includes land, land improvements, building, building improvements, machinery, equipment, and furniture and fixtures.

Also includes infrastructure such as streets, sidewalks, culverts, curbs, roads and bridges.

General Government Includes city council, municipal court, planning, Downtown Community Center and airport maintenance and repairs.

17

GENERAL FUND N OT ES

15

The ‘unassigned’ fund balance is an indication of the amount of available resources the City has at a point in time to fund emergencies, shortfalls or other unexpected needs.

12

In this analysis only the General Fund information is reported and is based on revenues. In our model, 10% is considered a minimum responsible level, while 30% is considered responsible.

As you can see by this chart, we have tightened up and were able to exceed that 10% responsible level. We continue to strive toward the 30% level.

See our complete disclosed information in our CAFR Basic Financial Statements.

UNASSIGNED FUND BALANCE

9

6

3

0%

2016

2017

2018

2019

2020

18

GOING ABOVE

A N D B E YO N D

11.73

%

The City of Edmond's goal is to maintain a 10% balance on the General Fund Unassigned Fund Balance.

19

L O N G -T E R M

N OT ES At fiscal year end, the City had $268 million in long-term debt outstanding which represents an decrease of $10 million or 4.0% from the prior year.

In 2017, the City issued series 2017 Sales and Utility Revenue Funding Bonds for $167 Million for construction of new Coffee Creek Water Resource Building

DEBT

g o v e r n m e n ta l activities

b u s i n e s s -t y p e activities

totals

2 0 2 0 2 0 1 9 2 0 2 0 2 0 1 9 2 0 2 0

2019

% of Change

Accrued absences

$ 4,6 6 8

$ 4, 3 2 2

$860

$832

$ 5 , 52 8

$ 5 , 15 4

7%

Revenue bonds*

2 8 ,4 0 6

3 5 ,6 0 1

2 16 , 0 4 4

222,557

24 4,4 5 0

2 5 8 , 15 8

-5%

17,742

14, 2 8 8

17,742

14, 2 8 8

24%

5

-10 0 %

$ 2 7 7,6 0 5

- 4%

Note payable Capital Lease Total (Thousands)

See our complete disclosed information in our CAFR Notes Section 3E, Long-Term Debt..

5 $ 3 3 , 0 74

$ 3 9,9 2 3

$ 2 3 4,6 4 6

$ 2 3 7,6 8 2

$ 267,72 0

r e v e n u e b o n d s paya b l e : g ov e r n m e n ta l ac t i v i t i e s * All bonds are secured by utility revenues and pledged sales tax Series Sales Tax & Utility System Bonds

Original Issue Amount

Original Date

Final Maturity Total

2010

13,900

12/30/2010

7/ 1 / 2 0 2 1

1,515

2012

13,255

8/16/2012

7/ 1 / 2 0 2 3

4,280

2013

1 3 ,7 1 0

5 / 14 / 2 0 1 3

7/ 1 / 2 0 2 3

4 , 49 0

2 0 14

12,6 4 5

4 / 3 / 2 0 14

7/ 1 / 2 0 24

6,056

2 0 14 b

20,280

1 2 / 9/ 2 0 14

7/ 1 / 2 0 2 6

12,065

$ in Thousands

28,406

r e v e n u e b o n d s paya b l e : b u s i n e s s - t y p e ac t i v i t i e s * All bonds are secured by utility revenues

Utility System Refunding Bonds

Original Issue Amount

Original Date

Final Maturity Total

2 0 14

10,085

4 / 3 / 2 0 14

7/ 1 / 2 0 24

5 , 249

2015

20,4 56

4/2/2015

7/ 1 / 2 0 2 3

9, 4 4 5

2016

41 ,7 9 5

7/ 5 / 2 0 1 6

7/ 1 / 2 0 4 6

3 9, 5 9 5

2 0 17 1 6 7, 0 2 5 1 0 / 1 9/ 2 0 17 7/ 1 / 2 0 47

1 6 1 ,7 5 5

$ in Thousands

216,04 4

20

TOP 3

2 3 ,7 2 9

EMPLOYERS

students enrolled in schools

1.

(34.8%) 2. u n i v e r s i t y o f c e n t r a l o k l a h o m a (20.5%) 3. c i t y o f e d m o n d (10.9%) edmond public schools

30

4 ,76 5 a s p h a lt s t r e e t r e pa i r s ( i n t o n s)

-double

tennis courts in use the amount from l ast year

21

10

n e w p u b l i c a r t i n s ta l l at i o n s

728 pet adoptions

22

24 p l ayg r o u n d s

378 fires extinguished

23

ECONOMIC OUTLOOK

F Y 1 6 -2 0 G E N E R A L F U N D ' S S A L E S TA X | AC T U A L S

N OT ES This chart reflects the actual amount of sales tax for the General Fund received for the last 4 fiscal years ending June 30, 2020. Sales tax collections for FY 19-20 were up, ending the fiscal year at an overall net increase of 4.15% over the prior year. YTD collections (through November 2020) for FY 20-21 are up from FY 19-20 by 4.18%. The COVID-19 pandemic has had a positive impact on our local sales tax revenue as we have seen more people working from home and shopping locally.

24

O U T S TA N D I N G

ACHIEVEMENT The Government Finance Officers Association of the United States and Canada (GFOA) has given an Award for Outstanding Achievement in Popular Annual Financial Reporting to the City of Edmond, Oklahoma for its Popular Annual Financial Report for the fiscal year ended June 30, 2019 . The Award for Outstanding Achievement in Popular Annual Financial Reporting is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government popular reports.

In order to receive an Award for Outstanding Achievement in Popular Annual Financial Reporting, a government unit must publish a Popular Annual Financial Report, whose contents conform to program standards of creativity, presentation, understandability and reader appeal.

An Award for Outstanding Achievement in Popular Annual Financial Reporting is valid for a period of one year. City of Edmond, Oklahoma has received a Popular Award for the last ten consecutive years (fiscal years ended 2010–2019). We believe our current report continues to conform to the Popular Annual Financial Reporting requirements, and we are submitting it to GFOA.

25

2020

CITIZEN'S REPORT City of Edmond, Oklahoma Fiscal Year Ending June 30, 2020 7 North Broadway • Edmond, Oklahoma 73034 (4 05) 359 – 4 521 • edmondok.com