Dear City Residents,

We are pleased to present the City of Ashland's fourth Popular Annual Financial Report (PAFR) for the 2017 fiscal year.

This report is intended to present a condensed overview of the city's financial position, financial practices, and the details outlining how revenues were generated and spent. Financial information in this report is derived from the independently audited financial statements that are part of the City of Ashland's Comprehensive Annual Financial Report (CAFR).

We are proud to report that the city has, once again, been awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA).

The Department of Finance has created this report to increase our government's transparency to our citizens. As you review this Popular Annual Financial Report, please feel free to share any questions, concerns, or recommendations you may have with us.

Tony D. Grubb, CGFM
Director of Finance