Preparing Popular Reports

Best Practice
Approved by GFOA's Executive Board: 
January 2007

The Government Finance Officers Association (GFOA) has long been on record as encouraging every provincial and local government to issue a comprehensive annual financial
report (CAFR) in conformity with GAAP. The GFOA also encourages governments to supplement their CAFR with simpler, "popular" reports designed to assist those who need or desire a less detailed overview of a government's financial activities. Such reporting can take the form of consolidated or aggregated presentations, or a variety of other formats. GFOA recommends that popular reports exhibit the following characteristics to be most effective: