Annual Comprehensive Financial Report
Prepared by the Business Office
An Annual Comprehensive Financial Report is a set of government financial statements offered by the School District that complies with Generally Accepted Accounting Principles (GAAP)—established by the Governmental Accounting Standards Board (GASB).
The information in the Annual Comprehensive Financial Report is compiled by the District accounting staff and audited by an external certified accounting firm (AICPA) utilizing GASB requirements. It is comprised of three sections: Introductory, Financial, and Statistical.
The Annual Comprehensive Financial Report is presented to the Governmental Finance Officer’s Association (GFOA) each year. The GFOA conducts a review of the ACFR. If approved, the GFOA awards a Certificate of Achievement for Excellence in Financial Reporting to those local governments who are in compliance with their presentation and accounting standards.