The Finance Department coordinates the preparation of the annual financial report in conjunction with the comprehensive audit required by Section 8.14 of the City of Hutto Charter. The City’s fiscal year is from October 1 through September 30. Prior to the fiscal year of 2006, the City prepared basic financial reports. Beginning in 2007, the City prepared a Comprehensive Annual Financial Report (CAFR), which includes more comprehensive information than the basic financial report. The CAFR is required to be audited under Generally Accepted Accounting Principles (GAAP).
The City earned the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association for its Comprehensive Annual Financial Report.