Comprehensive Annual Financial Report (CAFR)
The Comprehensive Annual Financial Report (CAFR) is the official statement of the Town’s financial position at the close of the fiscal year on June 30th. It's produced to provide the Mayor, Town Council, staff, residents, bondholders and the general public with useful information about the Town of Clayton's operations and financial position. We go well above and beyond the minimum accounting standards to make sure the work of our Town is transparent and fully disclosed to taxpayers. The document is judged by an impartial panel to meet the high standards of the Government Finance Officers Association of the United States.
Check out why our CAFR has won awards 15 years in a row!
Fiscal Year 2014-2015 CAFR
Fiscal Year 2013-2014 CAFR
Fiscal Year 2012-2013 CAFR
Fiscal Year 2011-2012 CAFR
Fiscal Year 2010-2011 CAFR
Fiscal Year 2009-2010 CAFR
Fiscal Year 2008-2009 CAFR
For a quick reference, check out How Your Tax Dollar is Spent.
The annual budget is the proposed plan for raising and spending money for all the projects, activities, events, personnel and services for the fiscal year (which runs July 1st to June 30th). It’s state law that the Town operate under a balanced budget administered in accordance with the Local Government Budget and Fiscal Control Act. The budget incorporates the goals, priorities, and policies adopted by Town Council. Click here to see the previous proposed and adopted budgets for the Town.
Fund balance is a technical term used to describe the difference between the assets and liabilities reported in a governmental fund. For liquidity measurement purposes, fund balance is similar to the working capital of a private-sector business. In layman’s terms, fund balance is often described as a savings account or “rainy day fund”. Fund balance increases when revenues exceed expenditures and decreases when revenues are lower than expenditures. The North Carolina Local Government Commission (LGC) recommends all municipalities maintain a minimum fund balance of 8% of the prior year’s expenditures. The Town’s policy is to maintain an unassigned fund balance in the General Fund of at least 20%. The General Fund is the chief operating fund of the Town. Maintaining a healthy fund balance is important. Fund balance is a primary factor utilized by credit rating agencies to rate general obligation bonds issued by the Town. Click here to check out our Financial Policies.
Comprehensive List of Fees and Charges
How much is a building permit or the cost of the summer camp at Parks & Recreation? Parks For your convenience, we’ve put our full list of fees and service charges in one document, the Comprehensive List of Fees & Charges.
Credit Ratings & Bond Information
The Town of Clayton is proud of its credit ratings and is always improving thanks to a substantial resurgence of economic growth in recent years. Good credit ratings keep financing costs low, can bring considerable savings in financing the Town’s long-term debt and bonds and signal to businesses looking to locate here that we are a town that’s on solid financial ground! Read more about our Credit Ratings & Bond Information.