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The Annual Comprehensive Financial Report consists of three sections: Introductory, Financial and Statistical.
How is a CAFR used?
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.
Why was CAFR changed to Acfr?
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.
What is included in the Statistical section of the Acfr?
The Statistical section provides additional financial and statistical data, including data about financial trends that may better inform the reader about the governments activities.
Who uses CAFR?
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.
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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).
What is a personal financial disclosure?
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).
What does ACFR stand for?
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).
Why was CAFR changed to Acfr?
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.
How do I fill out a financial disclosure statement in Wisconsin?
How to fill out a Financial Disclosure Statement in Wisconsin Gather Proof of Income. Gather documents listed for each type of income applicable to you. Gather Proof of Assets. Gather documents and statements to determine asset valuation. Gather Proof of Debts. Gather documents and statements to determine debt valuation.
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Annual Financial Reports - University of Wisconsin System
Click here to view Financial Reports and Tools. A UW login is required to access these items. University of Wisconsin System Annual Financial Report.
The State Controller's Office in the Department of Administration publishes the Annual Comprehensive Financial Report (ACFR) for each state fiscal year.
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