All governments have to do CAFRs and we ordinary citizens are supposed to be able to understand them. As a layperson I try to figure out why and how the numbers vary year to year, and over time this tactic teaches me. CAFRs also provide details on debt and other long-term liabilities.
Let’s start with an updated chart that will look familiar to you if you follow my budget and CAFR posts. Read the rest of this entry