Financial Reports
The City of Gunnison Finance Department is responsible for financial reporting which includes preparing interim financial statements as well as the Comprehensive Annual Financial Report (CAFR) in accordance with generally accepted accounting principles. Applicable portions of the CAFR are audited annually by a firm of independent certified public accountants. The CAFR is also submitted to the State of Colorado.
The City of Gunnison's financial statements are reported on a fund basis. The City's funds are divided into three categories: governmental funds, proprietary funds and fiduciary funds. Funds included in the governmental fund section include the general fund, the insurance reserve fund, and two special revenue funds – the conservation trust fund and the ditch fund. Funds included in the proprietary fund section include the enterprise fund - electric, water, sewer, refuse (trash), communications, pool, rink, and trails, and an internal service fund for fleet operations. The City's fiduciary fund records financial activity for the firemen's pension fund.
In accordance with the Charter of the City of Gunnison, an annual appropriated budget is adopted for all governmental funds by December 15th of each fiscal year. The responsibility for budgeting includes managing the budgeting process, preparing the official Budget Document, and monitoring actual results for compliance with budget limitations. The City also accepts Contracts for Service applications which are designed to support services and programs not offered through the auspices of current City operations or activities.
The Gunnison/Hinsdale Combined Emergency Telephone Service Authority (Authority) is a separate entity from the City of Gunnison. Because the Finance Director for the City of Gunnison also serves as the Secretary/Treasurer for the Authority, the financial statements and records may be accessed on this website as well.
Contact: Michelle Arnett with any additional financial report questions
The City of Gunnison's financial statements are reported on a fund basis. The City's funds are divided into three categories: governmental funds, proprietary funds and fiduciary funds. Funds included in the governmental fund section include the general fund, the insurance reserve fund, and two special revenue funds – the conservation trust fund and the ditch fund. Funds included in the proprietary fund section include the enterprise fund - electric, water, sewer, refuse (trash), communications, pool, rink, and trails, and an internal service fund for fleet operations. The City's fiduciary fund records financial activity for the firemen's pension fund.
In accordance with the Charter of the City of Gunnison, an annual appropriated budget is adopted for all governmental funds by December 15th of each fiscal year. The responsibility for budgeting includes managing the budgeting process, preparing the official Budget Document, and monitoring actual results for compliance with budget limitations. The City also accepts Contracts for Service applications which are designed to support services and programs not offered through the auspices of current City operations or activities.
The Gunnison/Hinsdale Combined Emergency Telephone Service Authority (Authority) is a separate entity from the City of Gunnison. Because the Finance Director for the City of Gunnison also serves as the Secretary/Treasurer for the Authority, the financial statements and records may be accessed on this website as well.