As required by the North Carolina General Statutes, an audit of the Town’s accounts is performed on an annual basis. Financial Statements are prepared in accordance with Generally Accepted Accounting Principles (GAAP).
In addition to the required statements, the Town prepares a Comprehensive Annual Financial Report (CAFR) which provides additional information, including historical financial data.
Less that 1% of units in the United States in the Town’s size group (population less than 10,000) prepare this report. The Town’s CAFR is submitted to the Government Finance Officers’ Association (GFOA) and has received the prestigious Certificate of Achievement in Financial Reporting for every year since 1990.