The State Controller's Office in the Department of Administration publishes the Annual Comprehensive Financial Report (ACFR) for each state fiscal year. The report is prepared on a Generally Accepted Accounting Principles (GAAP) basis. The adoption of GAAP by the State of Wisconsin for financial reporting purposes serves to present the State’s financial position in a business-like manner. GAAP reporting accurately measures financial operations, fully discloses financial position, provides an externally accepted presentation, and provides information for financial managers.
The State of Wisconsin ACFR has received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA) each year since state fiscal year 1996. Below is the current ACFR report: