The Office of State Controller (OSC) today released North Carolina’s 2022 Annual Comprehensive Financial Report (ACFR).
The ACFR 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 28 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 Annual Comprehensive Financial Report. The award is the highest form of recognition in the area of governmental accounting and financial reporting.
The ACFR 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 13 states with a triple-A rating from all three rating agencies.
The full 2022 ACFR as well as a summary report (Financial Highlights) of the 2022 ACFR is available on the OSC website at www.osc.nc.gov.
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.