Welcome to the City of Palm Desert's Popular Annual Financial Report (PAFR). This report is designed to give residents, businesses, and community members a clear and easy-to-understand overview of the City's finances for the fiscal year ended June 30, 2025.
Incorporated in 1973, Palm Desert has grown from a small desert community into a vibrant city known for thoughtful planning, fiscal responsibility, and strong community investment. Centrally located in the Coachella Valley and surrounded by the local mountains, Palm Desert enjoys a unique setting that supports year-round outdoor recreation, tourism, and economic activity.
Palm Desert benefits from a strong and diverse local economy supported by strategic economic development efforts that encourage business growth, attract investment, and create jobs. Tourism plays an important role in the City's success, bringing visitors to its resorts, shopping areas, attractions, special events, and recreational amenities. Visitor spending generates revenues that help fund City services, maintain infrastructure, and support community programs, contributing to Palm Desert's long-term financial stability.
This PAFR shows how City resources are used to deliver everyday services such as public safety, street and facility maintenance, recreation, and community programs. Through summaries, charts, and plain language, the report highlights how financial decisions support the City's priorities and help maintain a high quality of life for residents.
The information in this report comes from the City's audited Annual Comprehensive Financial Report (ACFR), which contains detailed financial statements and technical disclosures. The PAFR focuses on key highlights and trends across all City funds and component units to make the information more accessible to a broad audience.
The City of Palm Desert is committed to transparency, responsible financial management, and accountability to the community. This PAFR is prepared in accordance with the Government Finance Officers Association's PAFR Award Program guidelines. Residents seeking additional detail are encouraged to review the City's ACFR, available on the City's website located at www.palmdesert.gov. It is important to note that the financial data in these reports has been prepared in accordance with Generally Accepted Accounting Principles (GAAP).1
Generally Accepted Accounting Principles (GAAP) - Uniform minimum standards and guidelines for financial accounting and reporting. They govern the form and content of the financial statements of an entity. GAAP encompasses the conventions, rules and procedures necessary to define accepted accounting practice at a particular time. They include not only board guidelines of general application, but also detailed practices and procedures. GAAP provides a standard by which to measure financial presentations. The primary authoritative body on the application of GAAP to state and local governments is the Governmental Accounting Standards Board (GASB).