The Comprehensive Annual Financial Report (ACFR) is a thorough and detailed presentation of the state's financial condition. It reports on the town's activities and balances for each fiscal year.
What's in the ACFR?
The ACFR is presented in three sections:
Introductory section - includes transmittal letter.
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.
Statistical section - includes additional financial, economic, and demographic information.