BAR — Quick Sheet
Government-Wide Statements & the ACFR
Read time: ~5 minutes
One-minute revision
- Government-wide = full accrual: Statement of Net Position + Statement of Activities
- Split into governmental activities, business-type activities, component units; fiduciary funds excluded
- Reconciliation fund balance → net position: add capital assets, subtract long-term liabilities, adjust deferred items
- Statement of Activities uses net (expense) revenue format; taxes are general revenues at the bottom
- ACFR = Introductory + Financial (auditor's report, MD&A, basic statements, RSI) + Statistical
- MD&A is RSI, presented before the basic statements