Annual Comprehensive Financial Reports

At the close of each fiscal year, Massachusetts state law requires all cities and towns to publish an Annual Comprehensive Financial Report (ACRF), which is a complete set of financial statements in conformity with accounting principle generally accepted in the United States of America (GAAP) that are audited in accordance with generally accepted auditing standards by a firm of licensed certified public accountants.

Pursuant to that requirement, we hereby issue the following Annual Comprehensive Financial Reports (ACFR) of the City of Melrose, Massachusetts:

• June 30, 2023 — FY2024 Annual Comprehensive Financial Report

The ACFR is intended to be used by the elected and appointed officials of the City and others who are concerned with its management and progress such as bond analysts, banking institutions and credit raters. Equally important, this report is designed to provide the residents and taxpayers of the City of Melrose with an easily readable and understandable financial report.