Comprehensive Annual Financial Report (CAFR)

A Comprehensive Annual Financial Report (CAFR) is an in-depth financial document prepared by government entities, such as cities or states, to provide a detailed picture of their financial health. It includes audited statements of income, expenses, assets, liabilities, and overall financial position, along with supporting notes and statistical data. The CAFR offers transparency and accountability, helping stakeholders—including citizens, investors, and policymakers—understand how public funds are managed and spent over the year. It goes beyond basic financial reports by presenting a complete and transparent view of the government’s financial activities and condition.