Submit an essay on the New Jersey State Comprehensive Annual Financial Report (CAFR).
The New Jersey State CAFR is prepared by the state’s Department of Treasury, Division of Accounting and Reporting. It is a comprehensive report that covers various aspects of the state’s finances, including the general fund, special revenue funds, capital projects funds, and enterprise funds. The report is a crucial resource for policymakers, investors, and other stakeholders who need to understand the state’s financial position.
One of the key highlights of the New Jersey State CAFR is the state’s revenues. The report shows that the state collected $35.6 billion in revenues dur
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Another essential aspect of the New Jersey State CAFR is the state’s expenditures. The report shows that the state spent $38.2 billion in fiscal year 2020. The majority of these expenditures went towards education, health and human services, transportation, and public safety. The report also details how the state’s expenditures were financed, providing a clear picture of the state’s budgeting priorities.
The New Jersey State CAFR also provides valuable information about the state’s assets and liabilities. The report shows that the state had $91.5 billion in assets at the end of fiscal year 2020. These assets include infrastructure, investments, and other resources that the state can use to provide services to its residents. The report also shows that the state had $67.6 billion in liabilities at the end of the fiscal year. These liabilities include debt, pensions, and other obligations that the state owes to its creditors and residents.
Overall, the New Jersey State CAFR is a valuable resource for anyone interested in understanding the state’s financial position. It provides detailed information about the state’s revenues, expenditures, assets, and liabilities, as well as insights into the state’s budgeting process. Policymakers, investors, and other stakeholders can use this information to make informed decisions about the state’s finances and ensure that the state remains financially sustainable in the long term.