Accounting & Reporting
All accounting functions and financial reporting for the Kodiak Island Borough is the responsibility of the Finance Department.
The Finance Department annually produces a narrative budget that meets the Government Finance Officers criteria for a Distinguished Budget Presentation Award. The budget acts as a policy document, financial plan, operations guide, and communications device for the Borough.
Comprehensive Annual Financial Report
The Borough annually produces a Comprehensive Annual Financial Report that meets the Government Finance Officers criteria for a Certificate of Achievement. Our Annual Financial Report is audited each year by an independent CPA to ensure that our Annual Financial Report is materially correct. This criterion is always met.
The Borough also produces a Popular Annual Financial Report which is a more user friendly document designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance.
Quarterly Financial Report
The Finance Department prepares a quarterly financial report. The report compares current-year amended budget amounts to actual revenues and expenses by quarter for the year.
Monthly Financial Report
The Finance Department prepares a monthly financial report. The report contains a balance sheet, revenue report, expenditure report, project report and a report on investments.
The Finance Department also prepares reports to the State of Alaska on grant expenditures, expenditures paid for out of State reimbursable bond proceeds, and Federal grant expenditures. Other reports are compiled on an as needed basis.