The Annual Financial Report (AFR) is issued by the OUC and contains the University’s basic financial statements, which include the Statement of Net Position (SNP/balance sheet), Statement of Revenues, Expenses, and Changes in Net Position (SRECNP/income statement), and Statement of Cash Flows. It also contains supporting footnotes, required supplementary information, management’s discussion and analysis, and the independent auditor’s report on the AFR.

• You may wish to review the AFR to see how the University has fared financially over the past fiscal year. 
• You may need to provide this traditional PDF format of the AFR to sponsors as part of a grant application process. 

Note that sponsors interested in subrecipient monitoring may want to review the Financial and Compliance Report [2], or statewide Single Audit report, that is issued by the Office of the State Auditor (OSA).

The AFR is typically published in mid-December, after the Legislative Audit Committee (LAC) and the Regent Audit Committee (RAC) have approved and released the report to the public.