Annual Comprehensive Financial Report

The Annual Comprehensive Financial Report (ACFR), commonly called the Annual Report, is a set of financial statements for a state, municipality or other governmental entity that comply with the accounting requirements established by the Governmental Accounting Standards Board (GASB). The ACFR consists of three sections: Introduction, Financial and Statistical.

The purpose of an ACFR is to be transparent about the use of customers' money and to give the public a detailed accounting of all expenditures. The ACFR accomplishes this by including basic and complex financial reports along with notes, narratives, and supporting data.

The foremost purpose of an ACFR is to provide financial transparency and promote accountability. When a local government issues bonds to fund public projects, the ACFR provides insights into the financial functioning of the government, based on which investors can take an informed decision.

Tualatin Valley Water District has received the Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers’ Association (GFOA) for the ACFR for the Fiscal Year ending June 30, 2021. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.