Federal financial statements

Federal financial statements are official documents that summarize the financial position and activities of the U.S. government. They include information on revenues (income), expenditures (spending), assets (what the government owns), and liabilities (what it owes). These statements help ensure transparency and accountability in how taxpayer money is used. They are prepared annually and audited to provide a clear picture of the government's financial health, guiding policymakers and informing the public about fiscal responsibility and national priorities.