Financial Reports


Annual Comprehensive Financial Report (ACFR)The City annually produces an Annual Comprehensive Financial Report (ACFR) that meets the Government Finance Officer Association's criteria for a Certificate of Achievement in Financial Reporting. This report consists of Management's representations concerning the finances of the City of Soldotna. Management assumes full responsibility for the completeness and reliability of the information presented in the ACFR.

Our website contains electronic copies of the City ACFRs for convenience and informational purposes only. While reasonable efforts have been made to ensure the integrity of these electronic financial statements, they should not be relied upon. A copy of the printed financial statements will be provided upon request.

In accordance with Section 29.35.120 of Alaska Statutes, an annual audit is conducted each year by an independent CPA to ensure that the ACFR presents fairly, in all material respects, the financial position of the City.

See the links at the bottom of this page to view copies of current and archived Annual Comprehensive Financial Reports. 
ACFR cover page
Popular Annual Financial Report (PAFR)The City began producing a Popular Annual Financial Report (PAFR) in Fiscal Year 2010. The PAFR is a brief summary of the City's Annual Comprehensive Financial Report (ACFR). The purpose of this report is to communicate the City’s financial position to the taxpayers.

The PAFR also provides information about Soldotna’s demographics, elected officials, administration, capital projects and other miscellaneous data.

See the links at the bottom of this page to view copies of current and archived Popular Annaual Financial Reports. 
PAFR cover page
Budget ReportsBudgets are adopted on a basis consistent with generally accepted accounting principles (GAAP) for the General Fund, Special Revenue Funds, Equipment Replacement Fund, and Debt Service Fund. The operating budget serves as the foundation for the City's financial planning and control.

The Finance Director shall administer the financial affairs of the City and to that end shall supervise and be responsible for the disbursement of all moneys and have control over all expenditures to insure that appropriations are not exceeded. 

See the links at the bottom of this page to view copies of current and archived Budget Reports. 
 budget cover page

Budget Process
The budget process begins in January each year when the Finance Department distributes a budget packet to each department. Personnel budgets are prepared by the Finance Department while Department Heads and Division Managers prepare their preliminary requests for the upcoming year. Departmental requests are submitted to the Finance Director in February. After requests are reviewed and consolidated, the City Manager and Finance Director meet with each Department Head and Division Manager to discuss Departmental needs in conjunction with the overall needs of the City. Any additional changes are made and the Administration's recommended budget  is presented to Council. Work sessions, which are open to the public, are conducted to discuss the Proposed Operating Budget and to obtain taxpayer comments. After completion of these work sessions and after all changes to the proposed budget document are made, the budget document is legally enacted by passage of an ordinance by the City Council.

Commencing with fiscal year 2022, the City transitioned from an annual operating budget to a biennial (two year) budget. A single ordinance establishes the budget for both years of the biennium; with a separate effective date for each year.  Prior to the second year of the biennium, the City Manager will present any amendments for that year to the Council for consideration.
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CURRENT REPORTS3 documents

  • ACFR Fiscal Year '23
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  • PAFR Fiscal Year '23
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  • Budget Fiscal Year '24 and '25
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ARCHIVED REPORTS14 documents

  • ACFR FY 2022
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  • ACFR FY 2021
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  • ACFR FY 2020
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  • ACFR FY 2019
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  • PAFR FY 2022
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  • PAFR FY 2021
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  • PAFR FY 2020
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  • PAFR FY 2019
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  • Mid-Biennium Update FY 2023
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  • Budget FY 2022 & 2023
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  • Budget FY 2021
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  • Budget FY 2020
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  • Budget FY 2019
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