The Finance Department is responsible for the accurate and timely recording of all financial transactions of the city and safeguarding the City’s assets and financial resources. The Finance Department provides financial reporting, administers the City’s annual budget, and publishes other mandatory reporting requirements.
The City is required to have an external audit in accordance with generally accepted accounting standards on an annual basis. The 2022 audit report resulted in an unmodified or "clean" opinion.
Annual Comprehensive Financial Report
Budget & Planning
Annually, the City prepares and adopts a budget for its operations and capital improvements. The City also prepares a 5-year financial plan.
The City Council approves all expenditures paid by the City as part of the regularly scheduled City Council agenda. The City Finance Department disburses the funds after receiving approval from the Council, and publishes a summarized disbursement listing in the Cedar Rapids Gazette.
View City financial information on Paving for Progress