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