State Controller Releases 2018 Comprehensive Annual Financial Report

Raleigh

The Office of State Controller (OSC) today released North Carolina’s 2018 Comprehensive Annual Financial Report (CAFR). 

The CAFR is prepared each year by the Office of the State Controller and audited by the Office of the State Auditor.  The report, which outlines North Carolina’s financial condition, has received an unqualified opinion from the auditors, indicating that it fairly represents the financial position of the State.

For the past 24 years, OSC has received the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA) for its Comprehensive Annual Financial Report.  The award is the highest form of recognition in the area of governmental accounting and financial reporting.

The CAFR is used by bond agencies and other financial organizations to assess the State’s fiscal health and economic outlook. Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings, the top three rating agencies, all affirmed the triple-A bond rating for the State. The rating agencies recognized the State’s historically conservative budgeting, financial management, and debt issuance practices. North Carolina remains one of only 12 states with a triple-A rating from all three rating agencies.

The full 2018 CAFR, as well as a summary Financial Highlights report of the 2018 CAFR, is available on the OSC website at www.osc.nc.gov
 

About OSC
The State Controller is North Carolina’s chief fiscal officer.  The Office of the State Controller serves as an independent resource to ensure the financial integrity of the State by providing accounting, disbursing, payroll, internal control, data management, eCommerce, and financial reporting systems that serve state agencies, employees and the public.