The City's Accounting Division is responsible for maintaining accurate financial records and providing timely financial information to the public, bondholders, grantors, auditors, City Council and City management. This division supports City of Allen fund accounting, accounts payable, accounts receivable, fixed assets, cash management, investments, debt management, grant accounting and auditing.
The Accounting Division also provides the City's capital budget reporting and financial reporting, which includes preparation of the Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR).
Additionally, the City of Allen receives funding from Federal and State sources and, therefore, is subject to a Single Audit
in accordance with Government Auditing Standards that consider the City's internal control and compliance with certain provisions of laws, regulations, contracts and grant agreements.
The Accounting Division pays accounts payable promptly by issuing and mailing checks every Friday. Terms are net 30 days unless other arrangements have been made.