What are the five required sections of a CAFR?

Table of Contents

Contents of a Comprehensive Annual Financial Report (CAFR)…The statistical section is divided into five categories of information, as follows:

Financial Trends Information.
Revenue Capacity Information.
Debt Capacity Information.
Demographic and Economic Information.
Operating Information.

What are the three required sections of a CAFR and what is included in each section?

The CAFR consists of three sections: Introductory, Financial and Statistical. The Introductory section orients and guides the reader through the report. The Financial section presents the entity’s basic financial statements as well as notes to the statements and the independent auditors’ report.

What are the three sections of a CAFR?

The Annual Comprehensive Financial Report consists of three sections: Introductory, Financial and Statistical.

What are the major sections of the CAFR what is included in each section?

A) The CAFR has three main sections: introductory, financial, and statistical. B) Required Supplementary Information includes a Budgetary Comparison Schedule for the General Fund and all major special revenue funds that have a legally adopted annual budget (unless a statement is prepared).

Which of the following sections of the CAFR is are audited?

Which of the following sections of the CAFR is/are audited? Financial section.

What is in the introductory section of the CAFR?

Introductory section A key benefit to the CAFR is that the introductory section includes a letter of transmittal. Unlike the management’s discussion and analysis, which is included in the financial section and contains specified required elements, the transmittal letter may contain subjective information.

What is in a CAFR report?

The Annual Comprehensive Financial Report is a thorough and detailed presentation of the state’s financial condition. It reports on the state’s activities and balances for each fiscal year.

What is in the financial section of a CAFR?

Financial section – includes the independent auditor’s report and contains management’s discussion and analysis, government-wide financial statements, fund financial statements, notes to the financial statements, required supplementary information, combining financial statements, and schedules.

What are the main components in comprehensive financial reports?

The balance sheet, income statement, and cash flow statement each offer unique details with information that is all interconnected. Together the three statements give a comprehensive portrayal of the company’s operating activities.

What is the focus of a CAFR?

The purpose of a CAFR is to be transparent about the use of taxpayers’ money and to give the public a detailed accounting of all expenditures. A CAFR accomplishes this by including dozens of basic and more intricate financial reports along with notes, narratives and supporting data.

What is the purpose of the Comprehensive Annual Financial Report CAFR )?

The purpose of the Comprehensive Annual Financial Report (CAFR) is to provide accurate and meaningful information concerning the City’s financial condition and performance.

What is the purpose of CAFR?

How do I prepare for the CAFR GFOA Award?

CAFR Preparation: How to Excel and Achieve the GFOA Award for Your Government 2 Learning Objectives Recall the history of the Certificate Program Recognize the reporting requirements for a CAFR Recall the requirements of the GFOA Certificate of Achievement for Excellence in Financial Reporting Awards Program

What is GFOA’s new policy on the annual comprehensive financial report?

Effective immediately, GFOA is asking all industry affiliates to stop using the four-letter acronym commonly associated with the Annual Comprehensive Financial Report. We try to complete reviews within six months of receiving applications.

What are the requirements for submitting CAFR?

Submit published CAFR within six months of the end of the reporting period Must contain all of the government’s funds and component units Financial statements must be presented in conformity with GAAP and audited in compliance with either GAAS or Government Auditing Standards If notes to financial statements reference a separately published

What is included in CAFR 15 CAFR preparation?

15 CAFR Preparation How to Excel and Achieve the GFOA Award for Your Government 15 *Table of Contents *Letter of Transmittal *Other Material Deemed Appropriate by Management Organizational Chart List of Principal Officials Last Year’s GFOA Certificate of Achievement (if applicable) What is Included? Comprehensive Annual Financial Report (CAFR)