GAO:Our Guide to Understanding the Financial Report of the U.S. Government


Did you know there’s a single document that contains nearly all of the yearly financial information for the entire U.S. Government? That’s actually a dictionary first printed in 1934, but like a dictionary the Financial Report for the U.S. Government has a lot of information in it. Like revenue that comes in and expenditures that go out and major cost categories like Medicare and Medicaid…Social Security… and Defense. You can also see what it costs to run the government for a year or to find out what we own and what we owe. It’s a lot to sort through. Thanks. That’s why GAO put together this helpful guide for anyone that wants to find out more. It’s got an explanation of each of the financial statements, some information on how they relate to each other, and other interesting information about our shared financial future. To see this guide, or to find out more about the government’s financial report and fiscal outlook, please go to our website at GAO.gov.

Maurice Vega

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