District releases Popular Annual Financial Report for Fiscal Year 2019

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Westerville City Schools’ Treasurer/CFO Nicole Marshall today announced that a Popular Annual Financial Report (PAFR) for the district’s Fiscal Year 2018-19 is now available to the community.

“The PAFR provides a clear and thorough overview of the District’s finances through an easy-to-read, user-friendly format,” Marshall explained. “The reader should obtain a better understanding of the financial operations for the District and how the District performed financially during the 2018-2019 fiscal year.”

Marshall noted that the PAFR is prepared in accordance with Generally Accepted Accounting Principles, and any community members interested in a more in-depth look at the district’s finances can use the Comprehensive Annual Financial Report (CAFR) for this purpose. Both the FY19 PAFR and FY19 CAFR are available on the district’s website through the Treasurer/Fiscal Services webpage.

Unlike the CAFR, school districts and other governmental entities are not required to publish a PAFR. It has been several years since WCSD last issued a PAFR.

“We’ve resumed producing a PAFR because our taxpayers have the right to know how their tax dollars are being spent, and this is a good way to make this information available to them,” Marshall said. “With the addition of a PAFR, our taxpayers are offered yet another means of gaining a clear and accurate picture of the district’s finances.”