How does the CAFR compare to a traditional for-profit business?

Topic: Comprehensive Annual Financial Report (CAFR)

State and local governments are accountable to much more than private investors. They are accountable to the community as a whole. Communities are required to publish a comprehensive annual financial report (CAFR). Please locate a state or local government’s comprehensive annual financial report (CAFR) and answer the following questions:

  1. How does the CAFR compare to a traditional for-profit business?
  2. What are the major sources of revenue?
  3. What are the major expenditures?
  4. Do you feel that this entity is healthy?
  5. What are some areas of improvement?

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