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Tennessee's Annual Financial Report Complete

Tuesday, December 23, 2014 | 04:59am

NASHVILLE, Tenn.- The State of Tennessee has completed its annual financial report for fiscal year 2013-14. The Department of Finance and Administration’s Division of Accounts produces the Comprehensive Annual Financial Report (CAFR), for which the state has repeatedly received national recognition for financial reporting.   

“Tennessee strives for excellence in maintaining a system of general accounts embracing all the financial transactions of state government and providing a complete and responsible report on state finances,” Commissioner Larry Martin said. “Citizens can be proud of our effort to provide detailed analysis and disclosure in financial reporting, not only to meet national standards, but to deliver a high level of service to Tennesseans.”  

The report includes audited government-wide and fund financial statements and related notes, required supplementary information, and the underlying combining and individual fund financial statements and supporting schedules. It also features selected unaudited financial, economic and demographic data on a multi-year basis that is useful in evaluating the economic condition of the government.

Auditors from the Comptroller of the Treasury examined the financial statements and issued an unmodified opinion on the state’s basic financial statements. The independent auditor’s report is located at the front of the report.

Tennessee has been recognized by Government Finance Officers Association (GFOA) for excellence in financial reporting for a total of 34 years of financial reporting. The award is the highest form of recognition in governmental accounting and financial reporting, and represents a significant accomplishment by the state.  F&A will again seek the certification award from GFOA for the fiscal year 2013-14 report. 

CAFR reports dating back to 1997 are available electronically on the state’s website at: http://www.tn.gov/finance/act/cafr.shtml.

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