This Comprehensive Annual Financial Report of Wake County, North Carolina is prepared each year to provide details about how the County receives, spends and accounts for its resources and provide key indicators of its financial strength. The County's Finance Department prepares the Comprehensive Annual Financial Report, and is responsible for the accuracy of the data, the completeness and fairness of the presentation, and all disclosures. We believe the data and presentation are fair and accurate and that you will find everything necessary in this document to gain an understanding of the County's financial activities over the last fiscal year.
The Comprehensive Annual Financial Report (CAFR) is the official annual report of the County. The CAFR contains three distinct sections: introductory, financial and statistical.
- The introductory section contains general information on the structure, services and environment of the County.
- The financial section includes the basic financial statements, which are the core of financial reporting. These include government-wide financial statements, fund financial statements and notes to the financial statements. The financial section also includes information on individual funds.
- The statistical section provides trend data and nonfinancial data useful in interpreting the basic financial statements and is important for evaluating economic condition.
The Compliance Report provides additional information regarding the County's grants. It includes the schedule of federal and state awards, as well as, the auditor's opinions on compliance.