ARS 35-131.E On or before December 1 of each year, the director of the department of administration shall submit to the governor a complete report of the financial transactions of the preceding fiscal year and of the financial condition of the state at the end of that year with such comments and supplementary data as the director of the department of administration deems necessary to make the report complete and readily understandable. The report shall include all appropriated and nonappropriated monies in no less detail than the state general fund.
Every government should prepare and publish, as a matter of public record, a Comprehensive Annual Financial Report (CAFR) that encompasses all fund and account groups. The CAFR should contain both (a) the General Purpose Financial Statements (GPFS) by fund type and account group and (b) combining statements by fund type and individual fund statements. The CAFR is the governmental unit's official annual report and should also contain introductory information, schedules necessary to demonstrate compliance with finance-related legal and contractual provisions and statistical data. The purpose of the reporting entity's financial statements is to report the combined financial position and results of operations for all component units of the reporting entity as if all the activities, organizations, and functions were operated as a part of the oversight unit, reflecting a combining of all operations comprising the reporting entity. Use of the terms "comprehensive annual financial report" and "general purpose financial statements" is thus limited to financial statement presentations of the reporting entity. (CODIFICATION Sec 2200.101)
Authorized by federal Office of Management and Budget (OMB) Circular A-87, to charge statewide indirect administrative costs to federal programs. The SWCAP permits the State to determine costs and to allocate a portion of these costs to federal programs. These costs may be claimed as indirect administrative costs or used as a portion of the required matching state share. The General Accounting Office prepares and annually submits the SWCAP to the federal Department of Health and Human Services, Division of Cost Allocation (DCA), where it is reviewed and approved.