Provide an outline for the minimum content of a comprehensive annual financial report (CAFR). Provide the source reference for where (using the GASB Codification) you found this information.

Then review the most recent CAFR of a state or local government. Using that report, identify:

1. The entitys most significant source of revenues and most significant expense

2. The entitys most significant asset, and its most significant liability

3. Two of the individual funds used by the government (look for separate fund financial statements)

4. Who prepared the report

5. Who audited the report, and using what auditing standards