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DaphneT's avatar

What are the annual/year-end financial statements for the United States government?

Asked by DaphneT (5728points) June 6th, 2012

We always hear about the Budget, but that’s the beginning of the financial picture, what is the end of year publication that describes how the financial year was?

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3 Answers

bolwerk's avatar

I don’t think the U.S. government is obligated (=obligates itself) to follow GAAP rules, so you won’t see a pretty financial statement like you get with states, cities, or a corporation over a certain size.

DaphneT's avatar

@bolwerk, true, I didn’t think that anything existed. From @marinelife we have proof that someone thought of it two years ago. I think, now that my memory’s been jogged, that in my days at DON, the request for the following year’s budget included some kind of report recapping the project status for the past year. Of course there was always a significant amount of guesswork since reports had to be written 2 -6 months in advance and we were praying that things matched on the right dates. And if my memory’s right about that, then the data is in each Cabinet department, but never consolidated to be matched against the budget of that year.

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