Agency Financial Report - Fiscal Year 2012


About This Report

The Reports Consolidation Act of 2000 authorizes federal agencies to consolidate various reports in order to provide performance, financial, and related information in a more meaningful and useful format. This report, along with the Annual Performance Report, satisfies the reporting requirements of the following legislation:

  • Inspector General Act of 1978 [Amended] – requires information on management actions in response to the Office of Inspector General (OIG) audits;
  • Federal Managers’ Financial Integrity Act (FMFIA) of 1982 – requires ongoing evaluations of, and reports on, the adequacy of internal accounting systems and administrative controls, not just controls over financial reporting but also controls over program areas;
  • Chief Financial Officers (CFO) Act of 1990 – requires better financial accounting and reporting;
  • Government Management Reform Act (GMRA) of 1994 – requires annual audited agency-level financial statements as well as an annual audit of government-wide consolidated financial statements;
  • Federal Financial Management Improvement Act (FFMIA) of 1996 – requires an assessment of the agency’s financial management systems for adherence to government-wide requirements to ensure accurate, reliable, and timely financial management information;
  • American Recovery and Reinvestment Act (Recovery Act) of 2009 – requires reporting on agency allocation of Recovery Act funds to each state through individual programs;
  • Government Performance and Results Act (GPRA) Modernization Act (GPRAMA) of 2010 – requires quarterly performance reviews of federal policy and management priorities;
  • Improper Payments Elimination and Recovery Act (IPERA) of 2010 – requires agencies to improve agency efforts to reduce and recover improper payments.
Since FY 2007, the U.S. Agency for International Development (USAID) has elected to continue the production of three separate reports in lieu of a consolidated Performance and Accountability Report (PAR).
  • Agency Financial Report (AFR) – provides complete details on relevant financial results;
  • Annual Performance Report (APR) – provides complete details on performance results [to be submitted in conjunction with the Congressional Budget Justification in February 2013];
  • Joint State and USAID Summary of Performance and Financial Information Report – summarizes the AFR and APR in a brief, user-friendly format [available February 2013].

All three reports will be available at

There are three major sections to this report. The first section, Management’s Discussion and Analysis (MD&A), provides an overview of financial results, a high-level discussion of program performance, management assurances on internal control and financial management systems compliance; and other management information, initiatives, and issues. The second section, Financial Section, provides the financial details, including the independent auditor’s report, audited financial statements, and a message from the CFO. The third section, Other Accompanying Information, includes the schedule of spending; a statement prepared by the OIG summarizing what the OIG considers to be the most serious management and performance challenges facing the Agency; tables summarizing the financial statement audit and management assurances; and a detailed report on Agency efforts to reduce and recover improper payments.

Last updated: February 01, 2013