Financial Reporting

The General Accounting department prepares multiple sets of annual financial statements as required by federal and state laws.  Our financial statements are a structured representation of the financial performance and financial position of the School District and how our financial position has changed over time.

Comprehensive Annual Financial Report (CAFR)

The CAFR is a set of U.S. government financial statements comprising the financial report of a state, municipal or other governmental entity that complies with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB). The School District of Philadelphia is component unit of the City of Philadelphia, Pennsylvania.

Schedule of Financial Assistance (SFA)

The SFA is a set of financial statements, including the Schedule of Expenditures of Financial Assistance (SEFA) (link), detailing the federal awards of the School District.

Annual Financial Report (AFR)

The AFR is a set of financial statements, consolidated by Local Education Agency (LEA), per the guidelines of the PA Department of Education.  The School District reports the AFR for 3 Local Education Agencies (LEA):

  1. School District
  2. Intermediate Unit
  3. Area Vocation Technical

The Pennsylvania Department of Education provides summary and detail information on all PA school districts on their website.