Series 50: Basic Financial Statements

Basic Financial Statements

The CAFR can include up to ten basic financial statements:

•Two of the statements focus on government-wide finances. These include the:

»Statement of net assets

»Statement of activities

•Each of the following statements includes a column for the eight major funds within it:

»Balance sheet

»Statement of revenue, expenditures, and changes in fund balance

»Budget-to-actual comparison

»Statement of net assets

»Statement of revenues, expenses, and changes in net fund assets

»Statement of cash flows

»Statement of fiduciary net assets

»Statement of changes in fiduciary net assets

•A fund is a category of a government’s budget where money has bee