By Bill Bergman, includes “In 1981, the State of Illinois issued its first “Comprehensive Annual Financial Report,” or “CAFR.”  The state issued annual financial reports before then, of course, and accounting standards have changed since 1981.  Still, it is fun, and a little painful, to take a look back and compare the 1981 CAFR to Illinois’s most recent CAFR (2013). …”

comments powered by Disqus