CAFR (Comprehensive Annual Financial Report)

The Comprehensive Annual Financial Report (CAFR) is a detailed financial document that governments publish to provide a complete overview of their financial position. It includes information on revenues, expenditures, assets, and liabilities for a fiscal year. The CAFR helps ensure transparency and accountability, allowing citizens, investors, and other stakeholders to understand how public funds are managed. It typically comprises three main sections: an introductory section, a financial section with audited statements, and a statistical section providing additional context and data. The CAFR is essential for informed decision-making regarding public finance and budgeting.