Financial reporting guidelines for preparing the AFR and FSR

Grantee Fiscal Year (FY) 2014 Edition

The Financial Reporting Guidelines (Guidelines) govern the completion of the Annual Financial Report (AFR) and Financial Summary Report (FSR) that stations in the Community Service Grant (CSG) program are required to file each year.

The Guidelines define Non-Federal Financial Support (NFFS) and discuss the specific types of revenue transactions that are ineligible as NFFS. The Guidelines also contain line item instructions and illustrations for completing the AFR and FSR. All AFR and FSR users must familiarize themselves with the Guidelines, including those who certify and attest to the NFFS values contained in those reports.

CPB's Financial Reporting Guidelines document is updated annually. This year’s most important revisions pertain to:

  1. The requirement in Section 3.4.1 (p.29): “Audited Financial Statement Submission - Beginning in FY 2014 reporting, the Independent Accountant must submit the audited financial statements in the AFR/FSR and provide accurate answers to the questions listed on the “Audited Financial Statements” page in the ISIS reporting system.”
  2. Updated Section 4.2 with new language regarding 45-day/30-day extensions for filing AFRs and FSRs.

CPB last restructured its Financial Reporting Guidelines document in FY 2010 to allow the reader to more easily access and search for information. At the same time, the revision clarified existing policy especially in areas where grantees have had the most difficulty understanding CPB policy changes to NFFS matching funds in prior years.

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