~ The City of Colorado Springs has recently released its 2024 Popular Annual Financial Report (PAFR), providing residents with a comprehensive overview of the city's financial health and accomplishments from the previous year. This report aims to promote transparency and accessibility for residents, allowing them to better understand and engage with the city's financial decisions and long-term planning.

According to Charae McDaniel, the City's Chief Financial Officer, their goal is to be responsible stewards of the city's financial resources while delivering effective and efficient services that meet the needs of its residents. McDaniel hopes that this report will help residents gain a better understanding of the city's financial decisions and priorities.

The 2024 PAFR highlights several notable achievements that demonstrate the City's commitment to public service, infrastructure, and community well-being. These include repairing 94,331 potholes, an increase from the previous year, which enhances roadway safety and reduces wear on local streets. The Colorado Springs Police Department also responded to over 250,000 calls for service, supporting public safety citywide. Additionally, they launched a "drone as a first responder" program to enhance emergency response capabilities. The Colorado Springs Fire Department also received a new fire apparatus and launched a 24/7 drone program while improving emergency response training.

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The COS Airport continued its success in serving over 2 million passengers, further enhancing travel connectivity for residents. Along with showcasing these service accomplishments, the PAFR also provides a comprehensive snapshot of the City's financial condition. It breaks down key revenue sources such as sales and use tax, which accounted for nearly 60% of General Fund revenues. The report also highlights how funds like the Public Safety Sales Tax were allocated to support police and fire operations.

Through charts and summaries, the PAFR helps residents gain a better understanding of how their tax dollars are invested in supporting core functions, capital improvements, and long-term community priorities. The full 2024 Popular Annual Financial Report can be accessed at ColoradoSprings.gov/PAFR.

In addition to the PAFR, the City has also released its 2024 Annual Comprehensive Financial Report (ACFR), which provides a more technical and audited account of the financial activities of the City government and Colorado Springs Utilities. This report can be viewed at ColoradoSprings.gov/document/2024-co-springs-acfrfinal.pdf.

Overall, the release of these reports demonstrates the City's commitment to transparency and accountability in managing its finances. Residents are encouraged to review these reports to gain a better understanding of how their tax dollars are being utilized and to engage with the City's financial decisions and priorities.

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