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TOWN OF JUPITER FY 2023 Town of Jupiter Millage Rate First Reading DATE TO THRU FROM SUBJECTSeptember 6, 2022 Honorable Mayor and Members of Town Council Frank Kitzerow, Town Manager Scott Reynolds,
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An Annual Comprehensive Financial Report (ACFR) is a financial document that provides a detailed and comprehensive overview of an organization's financial position and performance over the course of a fiscal year. It includes financial statements, notes, and supplementary information.
Typically, entities such as state and local governments or organizations receiving federal funds are required to file an ACFR. Specific requirements may vary by jurisdiction.
To fill out an ACFR, gather all financial records and make sure to include all required financial statements, notes, and supplementary information. Follow guidelines provided by relevant financial reporting standards, typically GASB or GAAP standards.
The purpose of an ACFR is to provide transparency and accountability regarding the financial activities of an organization. It helps stakeholders understand the financial health of the organization and supports informed decision-making.
An ACFR must include the financial statements (such as the balance sheet, income statement), notes to the financial statements, and supplementary information including budgetary comparisons, management discussion, and analysis.
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