The City’s commitment to financial accountability and transparency is a core value at the forefront of our operations. We take pride in effectively managing public funds, ensuring that every dollar is invested wisely, efficiently, and in the best interest of the community as a whole.

 

Spending Authorization

The City Council is responsible for authorizing all spending through the approval of the annual budget. Council can also approve additional spending via ordinances passed during City Council meetings.

Deappropriation Authorization

The municipal deappropriation process refers to the procedure through which a municipality reduces or eliminates previously allocated funds from its budget. This could be due to various reasons such as changes in revenue projections, shifts in spending priorities, or unexpected financial constraints.

When deappropriation from the budget is determined to be necessary, City staff will make a recommendation to City Council at a Regular or Special City Council Meeting. The deappropriation would then be heard over two ordinance readings and are subject to the City Council’s approval.

Staff regularly monitors revenues and expenses against budgeted amounts reporting to Council on a monthly basis. If needed, staff and Council can make operational and capital adjustments to ensure ongoing financial health.

 

Auditing and Reporting

To ensure every expense is valid and accurate, the City has several layers of review for each transaction. Department procedures, as well as an internal audit team checks financial transactions for accuracy and compliance with City rules. Additionally, an outside independent auditor legally reviews all transactions and the City's Annual Comprehensive Financial Report to ensure City practice matches and follows proper accounting standards.

Find the City's Annual Comprehensive Financial Reports on our Reporting Page.

Each month, the City provides easy-to-understand to City Council and the public, showing the City's financial health. These reports guide decisions about services and costs.

Find our Monthly Financial Reports here.

 

Visit the City's Transparency Portal for more detail. 

 

Awards

Loveland's commitment to financial accountability has earned it positive recognition since the early 1980s. The City has received 40 consecutive Distinguished Budget Presentation Awards and 42 Certificates of Achievement for Excellence in Financial Reporting. These awards, given by the National Advisory Council on State and Local Budgeting and the Government Finance Officers Association (GFOA), recognize cities that go above and beyond in transparent and comprehensive financial reporting.