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An Annual Financial Report (AFR) for a city is a document that provides a summary of the city's financial activities for the previous fiscal year. It includes details such as:

• All collections and receipts, accounts due the city, and expenditures.

• The current public debt and the legal debt limit for the current fiscal year.

• Required by Iowa Code Section 384.22, the AFR must be published by December 1 of each year. 

  The AFR is prepared on forms and in accordance with instructions prescribed by the auditor of state. It is essential for transparency and accountability, allowing residents and the public to understand the city's financial health and governance.