Colorado Springs: Popular Annual Financial Report offers residents a transparent look at City finances

~ The City of Colorado Springs has recently released its 2025 Popular Annual Financial Report (PAFR), providing residents with a comprehensive overview of the city's finances and how public funds were utilized to support community priorities throughout the year. This report, which is a simplified version of the Annual Comprehensive Financial Report (ACFR), aims to promote transparency and accountability while offering an easy-to-read summary of the city's financial status, major accomplishments, and investments.

According to Charae McDaniel, Chief Financial Officer for the City of Colorado Springs, their responsibility is to be good stewards of public resources while delivering essential services that residents rely on daily. The PAFR serves as a tool for residents to understand how the city's finances support various priorities such as public safety, infrastructure, parks, economic vitality, and overall quality of life in Colorado Springs.

The report highlights that the city's total net position increased by over $380 million in 2025, reaching a total of $5.5 billion. This reflects the value of the city's assets compared to its liabilities and continued investment in long-term infrastructure and essential public services.

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Some notable accomplishments featured in the report include surpassing 800 sworn officers in the Colorado Springs Police Department for the first time, reaching its highest staffing level since 2018 at the 911 Call Center, and reducing average response times for urgent emergency calls from 15 minutes to 11 minutes. Additionally, Public Works repaved 187 lane miles and repaired over 74,000 potholes to improve roadway safety and reliability.

In terms of public health initiatives, the Colorado Springs Fire Department launched Colorado's first Targeted Opioid Response and Medication Assisted Treatment (TOR-MAT) team. This program aims to connect individuals struggling with opioid addiction with treatment and recovery resources.

The report also highlights progress made on major projects such as the new Colorado Springs Senior Center, improvements at Monument Valley Park, upgrades to irrigation systems at Patty Jewett and Valley Hi Golf Courses, and continued enhancements to Marksheffel Road. Economic development efforts also continued through Peak Innovation Park, with agreements supporting Swire Coca-Cola's $475 million manufacturing facility and other major investments expected to strengthen the local economy.

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The PAFR also provides insight into how the city generates and invests its revenues. Sales and use tax remain the largest source of revenue for the General Fund, which supports crucial services such as public safety, public works, parks, and general government operations.

The Government Finance Officers Association (GFOA) has recognized the City of Colorado Springs with its Award for Outstanding Achievement in Popular Annual Financial Reporting for the 2024 PAFR. This award recognizes excellence in making complex financial information accessible to the public.

Residents can access the full 2025 Popular Annual Financial Report on the city's website at ColoradoSprings.gov/PAFR. The audited, detailed financial statements required by City Charter and state law can also be found on the website under ColoradoSprings.gov/ACFR.

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