Annual Financial Report (AFR) Modernization Project

Pen with adding machine

The Office of the State Comptroller (OSC) is developing a new application for reporting annual financial activity. The new application will replace the existing Annual Update Document.

Application Benefits

The Office of the State Comptroller (OSC) is making it easier for local governments to report annual financial activity by developing a user-friendly reporting application to replace the existing Annual Update Document.

The new application will:

  • Leverage the OSC Online Services platform local governments already utilize to file their Real Property Tax Cap, Constitutional Tax Limit and Tax Data Verification forms
  • Allow local officials to access the application from anywhere they have an internet connection
  • Allow for access to previous years' reports
  • Allow multiple preparers to access the application
  • Provide OSC staff the ability to view the application as local officials are completing their report, enabling staff to better provide assistance
  • Include improved data checking and edits
  • Provide an enhanced user experience, eliminating annual downloading of the application and prior year data
Annual Financial Report Training

Upcoming Training Events

Date Topic Event Location
February 10, 2022 Statement of Indebtedness and Bond Repayment Schedule Validation Rules Webinar Virtual
February 22, 2022 Modernizing the AUD - Towns AOT - Annual Meeting and Training School NYC
April 8, 2022 Modernizing the AUD NYSGFOA Albany
May 6, 2022 Modernizing the AUD - Fire Districts AFDSNY Annual Conference Verona

On Demand Training

Topic Description Length Slideshow
General Overview An introduction to the modernization project including financial reporting history, project objectives, benefits of the new application and brief demonstration of application under development. 45:26 Slideshow Presentation [pdf]
Funds A detailed demonstration of how to complete the fund financial statements. 55:00 Not Applicable
Statement of Indebtedness and Bond Repayment Schedule Demonstration of how to complete these two schedules in the new AFR, including an explanation of data elements newly required for the AFR. 41:00 Slideshow Presentation [pdf]
New AFR Filing Schedule
This graphic illustrates  when municipalities will transition to submitting their annual reports to the Office of the State Comptroller using the new Annual Financial Report (AFR) application. The illustrated filing periods are based on the different fiscal year ends used by local municipalities and include the longest possible filing deadline of 120 days.

The above graphic illustrates when municipalities will transition to submitting their annual reports to the Office of the State Comptroller using the new Annual Financial Report (AFR) application. The illustrated filing periods are based on the different fiscal year ends used by local municipalities and include the longest possible filing deadline of 120 days.

Contact Us

If you have any questions regarding the new Annual Financial Report, please contact our staff by filling out and submitting the form below.

 

(page last updated December 2021)