The Annual Comprehensive Financial Report (ACFR) is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB).
The ACFR consists of three sections: Introduction, Financial and Statistical.
The purpose of an ACFR is to be transparent about the use of customers' money and to give the public a detailed accounting of all expenditures. The ACFR accomplishes this by including basic and complex financial reports along with notes, narratives, and supporting data.
