Comprehensive Annual Financial Report
The Comprehensive Annual Financial Report or CAFR is produced to provide the Mayor, Board of Commissioners, Town staff, citizens, bondholders and the general public with useful information about the Town of Wake Forest's operations and financial position.
The Town prepares financial reports to promote accountability. This annual report provides one way of assessing whether elected and appointed officials in Wake Forest are faithfully carrying out their role of good stewards of town resources.
The report is prepared by the Town's Finance Department in accordance with standards prescribed by the Governmental Accounting Standards (GASB), the Government Finance Officer Association of the United States and Canada (GFOA) and other rule-making bodies. Wake Forest is responsible for the accuracy, completeness and fairness of the data presented.