Each year, the City of Woodbury issues an Annual Comprehensive Financial Report that provides a wealth of information about the city's finances. The Annual Comprehensive Financial Report has three major parts:
Introduction - provides general information on the government's structure, services and environment
Financial - contains the basic financial statements, notes to the financial statements, any additional required supplementary information and information on individual funds
Statistical - presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the city's overall financial health. The statistical section includes:
Demographic and economic information
The city is making the annual report available on its website to improve access to the city's financial reporting and to comply with a previously issued recommended practice from the Government Finance Officers Association.
For the fiscal year ending December 31, 2022, the Woodbury Administration and Finance Department received the Certificate of Achievement for Excellence in Financial Reporting. The certificate, awarded by the Government Finance Officers Association of the United States and Canada, is the highest form of recognition in the area of governmental accounting and financial reporting.
The award recognizes that Woodbury's annual financial report meets criteria that most cities' reports do not. The city has earned the award for twenty-two consecutive years.