All state and local governments are required to annually produce and distribute a Comprehensive Annual Financial Report (CAFR) in conformance with generally accepted accounting standards established by the Government Accounting Standards Board (GASB).  The State of Vermont's CAFR is produced by the Department of Finance and Management.

As opposed to the budget, which is the legislatively approved spending authority for the State of Vermont, the CAFR reports financial activity for a fiscal year as well as its end of the year financial position in a standardized format used by all state and local governments.

The CAFR contains audited financial statements reporting the State's financial position and results of operations, introductory material, management’s discussion and analysis of key elements of the report, and various demographic and statistical multi-year trend information to help the reader understand the financial condition of the State for the fiscal year. 

All of the State’s programs and departments are encompassed in the data reported in the CAFR, as well as certain separately-administered component units such as the University of Vermont and the Vermont State Colleges.

The financial statements in the 2008 CAFR were audited by KPMG, LLP and the final report was addressed to the Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate.  The report is also available to Vermont residents and taxpayers, to credit agencies, and any other person or organization who is interested in assessing and monitoring the State's fiscal integrity and financial condition.

Electronic copies of Vermont's CAFR are available in pdf format below.  If a printed copy of a report is required, please send an email request to VISION-CAFR or contact the Department of Finance & Management by phone at (802) 828-2376.

Electronic CAFR Documents:  The documents below are electronic copies of the State of Vermont's CAFR for the year indicated.  These CAFR documents have not been updated for developments subsequent to the date of the independent auditor's report. 

FY 2008 CAFR

Complete Report   (2.7mb)  This file contains all sections of the report.

FY 2008 CAFR - By Section

Introductory Section   (580k)

Financial Section   (2.2mb)

Statistical Section   (200k)

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       Prior Year Reports - The following reports are for historical reference only:

          • FY 2007   (2.5mb)
          • FY 2006   (2.4mb) 
          • FY 2005   (2.4mb)
          • FY 2004   (1.6mb)
          • FY 2003   (1.7mb)