What’s an ACFR?
The Annual Comprehensive Financial Report (ACFR) is a thorough and detailed presentation of the state’s financial condition. It reports on the state’s activities and balances for each fiscal year.
What’s in the ACFR?
The ACFR is presented in multiple sections:
- Introductory Section
- Financial Section
- Statistical Section
- Other Reports
The report consists of management’s representations concerning the finances of the Key Largo Wastewater Treatment District. To provide a reasonable basis for making these representations, the Management of the Key Largo Wastewater Treatment District has established a comprehensive internal control framework that is designed both to protect the District’s assets from loss, theft, or misuse and to compile sufficient reliable information for the preparation of the Key Largo Wastewater Treatment District’s financial statements in conformity with Generally Accepted Accounting Principles (GAAP).