During fiscal year 2021, the governmental accounting community and standards board discontinued the use of the acronym associated with the term "Comprehensive Annual Financial Report" as a result of increasing professional awareness that the acronym sounded the same as a derogatory term used historically in other parts of the world.  The State’s financial statements subsequent to fiscal year 2020 will be referred to as the Annual Comprehensive Financial Report or “ACFR”.  Previous years' reports, while titled "Comprehensive Annual Financial Reports", will also be referenced as "ACFR" when an acronym is referenced.

Division of Finance Financial Reports

The Division of Finance publishes a number of reports and documents to ensure taxpayer resources entrusted to the State of Utah by the legislature and other stakeholders are managed in a responsible, appropriate manner.

These documents are formatted in portable document format (PDF). To view them, download a free copy of the Adobe Acrobat Reader.

The Government Finance Officers Association recognized the State of Utah with the Certificate of Achievement of Excellence in Financial Reporting for the 36th consecutive year in 2021.


H.B. 256, Revenue Reviews for Certain Funds, requires the Division of Finance to prepare an annual report and present that report to the Executive Appropriations Committee for six funds that meet the following criteria:

    • A "contribution dependent account" or a fund that receives at least 50% of its revenue from contributions, and those revenues are not intended to be used to directly provide services exclusively to the person who made the contribution;

    • The "contribution dependent account" did not receive at least $30,000 in contributions during one of the three last fiscal years; and

    • A "contribution dependent account" does not include a trust or agency fund.


2017 CAFR

The Division of Finance is responsible for the fair presentation of the financial statements of the State of Utah and for the preparation of the Annual Comprehensive Financial Report (ACFR).
The contents of the ACFR present the State's financial position and results of operations, as well as certain demographic and statistical information to help the reader understand the financial condition of the State for the fiscal year ended June 30.

State Bonds

The State of Utah issues general obligation bonds, revenue bonds, and lease revenue bonds for the acquisition and construction of buildings and highways and to provide capital for various water loan programs.

The State of Utah's General Obligation bonds have been assigned the highest credit rating by Moody's Investors Service, Inc. (Aaa), Standard and Poor's (AAA), and Fitch Ratings, Inc. (AAA).

In addition, the State's Lease Revenue bonds have the following ratings: Moody's Investors Service, Inc. (Aa1) and Standard and Poor's (AA+).