Wisconsin financial statement 2025

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​The Annual Comprehensive Financial Report consists of three sections: Introductory, Financial and Statistical.
The foremost purpose of a CAFR is to provide financial transparency and thus, promulgate accountability. When a city or state government issues bonds to fund public projects, CAFR provides insights into the financial functioning of the government, based on which investors can take an informed decision.
Until now, the name applied to those reports was the comprehensive annual financial report. The name change was prompted by GASB stakeholders raising concerns that the acronym of the prior name of the report sounds like a profoundly offensive term when spoken.
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The Statistical section provides additional financial and statistical data, including data about financial trends that may better inform the reader about the governments activities.
What is a Comprehensive Annual Financial Report (CAFR)? State Governments are required by GASB to release a Comprehensive Annual Financial Report, or a CAFR, each year. A CAFR can be broken down into three sections: the introductory section, the financial section, and the statistical section.
Government-wide financial statements provide a long-term view of finances. They record revenues and expenses when the earnings process is complete (full accrual basis), as opposed to when they are actually received or paid (cash basis).
Personal Financial Disclosure (PFD) is a statement, completed and filed, by a public official, an employee or a candidate, disclosing the financial interests of themselves, their spouse and any dependent child(ren).
ACFR stands for Annual Comprehensive Financial Report . An ACFR is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB).

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