Director’s Letter

LETTER TO EDMOND CITIZENS

Citizens of Edmond,

As part of our continuous effort to keep you informed on the utilization of your tax dollars, we are pleased to present our Popular Annual Financial Report (PAFR) for the fiscal year ending June 30, 2020. This report is a condensed version of our Comprehensive Annual Financial Report (CAFR). Both reports are available on our website at www.edmondok.com.

The details in the PAFR summarize our financial position based on the audited financial documents contained within the 2020 CAFR. The CAFR is prepared in accordance with generally accepted accounting principles (GAAP). This report is in summary form and excludes the City’s discretely presented component units which are the Edmond Economic Development Authority (EEDA) and the Edmond Historical Preservation Trust (EHPT).

The information included in this report is an overview of the City’s economic outlook, an analysis of the financial position of the City, and other key financial data. It provides analysis of the General Fund and discusses how money is received and spent. Additional detailed financial information on the operations of the City may be found in the CAFR.

The City has two primary sources of revenue: utility services and sales tax. In 2020, we were faced with the challenge of dealing with an unprecedented global pandemic from the COVID-19 virus. Even with this new challenge, the City continued to see strong sales tax receipts. Our local merchants adapted to the changing environment by following social distancing recommendations, mask ordinances and implementing options such as curb side service. Our local restaurant merchants offered outdoor seating to maintain social distancing while providing quality service to our citizens. We worked with our utility customer base to assist those facing financial hardships due to the pandemic. Overall, sales tax revenue exceeded our expectations as residents began working from home and shopping locally. We appreciate and value the support of our Edmond citizens. More detailed information about the City’s sales tax collections can be found in the CAFR. Water improvements continue as outlined in the City of Edmond Water Master Plan located on the City website. The Master Plan is our road map to keep pace with the anticipated growth in our population and to continue to provide a safe water supply for Edmond residents. The Edmond Tennis Center Court opened in 2020. This Center was a joint project with the Edmond Public School District and we are honored to have a healthy relationship with other local government agencies to provide state of the art facilities to our patrons. Infrastructure improvements continue at many of our major intersections with street widening and intelligent traffic light systems as we continue to see steady growth in construction and population.

Thank you for taking interest in your local government. As you review the report, we invite you to share any questions, concerns or comments with us. You may contact the Financial Services Department at (405) 359-4521, visit the City Manager’s office at 24 E. First Street in Edmond or contact us by email. Email addresses and further information is available at the City website: www.edmondok.com.

Respectfully submitted,

Kathryn L. Panas, CPA Director of Finance

Nestled on historic Route 66 in central Oklahoma, Edmond covers approximately 87 square miles and is the third largest city in the Oklahoma City Combined Statistical Area (CSA). The City has adopted a charter and operates under a Council-Manager form of government. The city features quiet suburban living with a central business district, major shopping and modern office areas, and hosts a multitude of recreational and cultural events throughout the year.