The Comprehensive Annual Financial Report (CAFR) of the City of Bloomington, Illinois, for the fiscal year ended April 30, 2018 is hereby submitted. This report presents a comprehensive and detailed picture of our financial transactions during the 2017-2018 fiscal year and the financial condition of the various funds as of April 30, 2018.
Responsibility for both the accuracy of the presented data and the fairness of the presentation, including all disclosures, rests with the City management. We believe the data as presented is accurate in all material aspects; that it is presented in a manner designed to fairly set forth the City's financial position and results of operations as measured by the financial activity of its various funds; and that all disclosures necessary to enable the reader to gain maximum understanding of the City's financial condition have been included.
The organization and content of this report follows the standards for annual financial reporting promulgated by the Governmental Accounting Standards Board. To provide as reasonable basis for making these representations, management of the City has established a comprehensive internal control framework that is designed both to protect the government's assets from loss, theft or misuse and to compile sufficient reliable information for the preparation of the City of Bloomington's financial statements in conformity with GAAP. Because the cost of internal controls should not outweigh their benefits, the City's comprehensive framework of internal controls has been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement.
As management, we assert that to the best of our knowledge and belief, this financial report is complete and reliable in all material respects.