The New York Combined Annual Financial Report (CAR) is an annual report that provides a comprehensive overview of the financial activities of the State of New York. It is made up of three reports: the Government-wide Financial Report, the Fund Financial Report, and the Notes to the Financial Statements. The Government-wide Financial Report provides a broad overview of the state's financial position, and the Fund Financial Report provides a detailed analysis of the state's funds and activities. The Notes to the Financial Statements provide explanations and additional details on the state's financial activities. The report is prepared by the New York State Office of the Comptroller and is audited by an independent auditing firm. The CAR is an important source of information for citizens, businesses, and government entities. The report is used to inform policy decisions and to monitor the state’s financial health.
New York Combined Annual Financial Report
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Required Supplementary Information (RSI) Other Than Management's Discussion and Analysis (MD&A) Financial Trends Information. Revenue Capacity Information. Debt Capacity Information. Demographic and Economic Information. Operating Information.
A regular annual report typically presents only basic financial statements about the government. An ACFR, by contrast, presents a wider variety of important information intended to help the reader properly understand the basic statements.
?The Annual Comprehensive Financial Report consists of three sections: Introductory, Financial and Statistical.
In Fiscal Year 2022, general revenues were approximately $69.9 billion, an increase of $133 million from Fiscal Year 2021.
Every year, most governments within the United States publish a Comprehensive Annual Financial Report, generally referred to as a CAFR, fully detailing the financial status of that government.
There are four sections to a company's financial statements: the balance sheet, the income statement, the cash flow statement, and the explanatory notes.
The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.
It contains details about all of the government's financial activities, including its balance sheet (like assets and debt liabilities), expenditures (such as state employee salaries or infrastructure costs), and revenues (taxes, grants, service fees, etc.).