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Finance

A Comprehensive Annual Financial Report (CAFR) is a set of U.S. Government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting standards disseminated by the Governmental Accounting Standards Board.

The report is audited by an external American Institute of Certified Public Accountants (AICPA) – certified accounting firm and is composed of four sections: Introductory, Financial, Statistical and Single Audit.

The difference between a budget and a CAFR is that where a budget is a plan for a fiscal period, primarily showing where tax income and other revenue sources are to be allocated, the CAFR contains the results of the period with previous years’ accumulations. A CAFR also shows the total of all financial accounting that a general purpose budget does not, providing a comparison of period budget and actual. It also gives a detailed showing of current investment accounts by category.

Overall, a CAFR can be used along with a budget document to compare the county’s total financial standing to the annual budget. It is a complete financial presentation of income, expenditures and investments from all sources.

Please click on any of the names below to see that specific year’s report.

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