Yesterday, Stacey Pickering released an unmodified opinion on the Comprehensive Annual Financial Report (CAFR) for the fiscal year which ended on June 30, 2017, and issued the Findings Report, commonly known as the “Yellow Book Report.”
The CAFR is a vital tool in illustrating the financial wellbeing of Mississippi. It serves, among other things, to advise the legislature on how state funds are being spent, how State revenue levels are performing, and the level of debt held by the State. Highlights of the report include an overall increase in per-capita income in our state over the past 10 years and a decrease in the number of State employees in the same period.
The Findings Report lists negative audit findings for each State agency, which can include financial statement errors or noncompliance with State law. Additionally, the Findings Report includes responses from each agency and corrective action plans regarding the audit findings. This year, twenty-seven findings were made among twelve State agencies.
In a press event, Pickering discussed the importance of the CAFR and what the data within the report means to Mississippians, saying, “The data collected in the CAFR shows the progress our state is making and how we can continue to improve as a State; it is a powerful tool in driving effective public policy decisions that affect all Mississippians.”
You can access the report here: