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Village of Woodstock, Vermont2020 Annual Report Fiscal Year July 1, 2019, June 30, 2020Public Informational Meeting: March 9th at 7:00 pm on Promote: March 16, 2021 7:00 am 7:00 pm, at the Woodstock

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What is comprehensive annual financial report?

A Comprehensive Annual Financial Report (CAFR) is a financial report that provides a detailed and comprehensive overview of an entity's financial condition and activities for a fiscal year. It includes the financial statements, notes to the financial statements, and other supplementary information.

Who is required to file comprehensive annual financial report?

Typically, state and local governments, as well as certain public universities and other entities receiving public funding, are required to file a Comprehensive Annual Financial Report.

How to fill out comprehensive annual financial report?

To fill out a Comprehensive Annual Financial Report, an entity should gather financial data, prepare financial statements according to accounting standards, and include disclosures and supplementary information as required. It is often advisable to follow guidelines set by the Governmental Accounting Standards Board (GASB).

What is the purpose of comprehensive annual financial report?

The purpose of a Comprehensive Annual Financial Report is to provide transparency and accountability regarding the financial position and operations of a government entity, ensuring that stakeholders, including the public and investors, have access to relevant financial information.

What information must be reported on comprehensive annual financial report?

A Comprehensive Annual Financial Report must include the management discussion and analysis, the basic financial statements (which consist of the government-wide financial statements and fund financial statements), notes to the financial statements, and any required supplementary information.

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