The Illinois Comprehensive Financial Report (CFR) is an annual financial statement of the State of Illinois that is prepared by the Office of the Comptroller in accordance with the provisions of the Illinois State Auditing Act and other applicable laws. It includes all funds, accounts, and activities of the state government, including information from the state’s General Funds, Special Funds, Federal Funds, Trust Funds, and Agency Funds. The report also includes information on the state’s fiduciary activities and the activities of its pension funds. The CFR is an important tool for state government leaders and citizens in understanding the financial condition of the state. There are five types of Illinois Comprehensive Financial Statements: the Basic Financial Statements, the Combined Financial Statements, the Single Audit Report, the Management’s Discussion and Analysis, and the Notes to the Financial Statements. The Basic Financial Statements provide an overview of the state’s financial position and activities. The Combined Financial Statements combine the financial statements of the general fund, special funds, trust funds, and agency funds. The Single Audit Report provides an independent audit of the state’s internal control systems. The Management’s Discussion and Analysis provide a narrative description of the financial statements and the state’s operations. Finally, the Notes to the Financial Statements provide additional information about the state’s financial activities.
Illinois Comprehensive Financial Statement
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FAQ
A financial statement is a report that shows the financial activities and performance of a business. It is used by lenders and investors to check a business's financial health and earnings potential.
Why GAO Did This Study. The Secretary of the Treasury, in coordination with the Director of OMB, is required to annually submit audited financial statements for the U.S. government to the President and Congress.
ACFR stands for Annual Comprehensive Financial Report . An 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).
Governmental Reporting Business Financial StatementEquivalent Government StatementIncome StatementStatement of ActivitiesBalance SheetStatement of Net AssetsCash Flow StatementStatement of Cash Flows
USAspending.gov. TFX.treasury.gov. Vote.gov.
Financial information can be found on the company's web page in Investor Relations where Securities and Exchange Commission (SEC) and other company reports are often kept. The SEC has financial filings electronically available beginning in 1993/1994 free on their website. See EDGAR: Company Filings.
Similar to corporations' income statements, the Statement of Operations and Changes in Net Position shows the annual financial results of federal operations (tax revenue less net cost) and how these results affect net position?the difference between its assets and liabilities.