Annual Financial Reports

A Comprehensive Annual Financial Report (CAFR) is a set of U.S. government financial statements comprising the financial report of a state, municipal, or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB). GASB provides standards for the content of a CAFR in its annually updated publication Codification of Governmental Accounting and Financial Reporting Standards. The U.S. Federal Government adheres to standards determined by the Federal Accounting Standards Advisory Board (FASAB).

A CAFR is compiled by a state, municipal or other governmental accounting staff and audited by an external American Institute of Certified Public Accountants (AICPA) certified accounting firm utilizing GASB requirements. It is composed of three sections: Introductory, Financial and Statistical. It combines the financial information of fund accounting and Enterprise Authorities accounting.

Financial Dashboard for Municipalities

Access Your Community’s Fiscal Database powered by Munetrix…
In response to financial challenges facing local governments, NEMCOG, in partnership with Munetrix, is providing members with comparable fiscal data for all Northeast Michigan communities. Use this database to identify trends, compare yourself to other communities, and assess the risk for emergency financial management. Click the table below to access the data. Courtesy of Financial Dashboard for Municipalities – Discover Northeast Michigan/