Guide to ACFR.pdf (119 KB)

Boulder Valley School District Guide to the Annual Comprehensive Financial Report June 30, 2025 The Annual Comprehensive Financial Report (ACFR) has four basic sections: Introductory, Financial, Statistical and Compliance. The Introductory Section provides general information on government structure, services and its operating environment. The Financial Section contains all basic financial statements and any required supplemental information (RSI), as well as information on all individual funds not reported separately in the basic financial statements. The Statistical Section provides trend data and nonfinancial data useful in interpreting the basic financial statements. Boulder Valley School District also includes a fourth Compliance Section which contains required compliance reports and accompanying schedules. The following exhibit illustrates the four sections of the ACFR:

Letter of Transmittal List of Officials & Organization Chart +

Introductory Section

Independent Auditors’ Report Management’s Discussion and Analysis Basic Financial Statements Notes to Financial Statements

Financial Section

+ Required Supplementary Information Combining and Individual Fund Statements and Schedules Statistical Tables Single Audit State Compliance

Statistical Section

Compliance Section

The four sections of Boulder Valley School District’s ACFR contain the following detailed items: Introductory Section • Letter of Transmittal – a narrative introduction and overview to the accompanying financial statements • Listing of the members of the Board of Education • Organizational chart • List of principal officials Financial Section • The Independent Auditors’ Report • Management’s Discussion & Analysis – provides an explanation of the components of the basic financial statements and an analysis of key data presented • Basic Financial Statements • Notes to the Financial Statements • Additional required supplemental information including budgetary comparisons and individual nonmajor funds statements Statistical Section • Financial Trends – these tables contain trend information to help the reader understand how the District’s financial condition has changed over time • Revenue Capacity – these tables contain information to help the reader assess the District’s largest revenue source, property taxes • Debt Capacity - these tables present information to help the reader assess the affordability of the District’s current levels of outstanding debt and the District’s ability to issue additional debt in the future • Demographic and Economic Information – these schedules offer demographic and economic indicators to help the reader understand the environment within which the District’s financial activities take place • Operating Information – these tables contain service data to help the reader understand how the information in the financial report relates to the services the District provides and the activities it performs Compliance Section • Single Audit reports from auditors on internal controls and compliance • Single Audit schedule of findings and questioned costs • Schedule of Expenditures of Federal Awards • Auditor’s Integrity Report