Annual Comprehensive Financial Reports (ACFR)

The Central Midland Regional Transit Authority (The COMET) is proud to present its Annual Comprehensive Financial Reports (ACFR) each fiscal year. Prepared by The COMET’s Finance Department, this report reflects the organization’s commitment to delivering accurate, clear, and high-quality financial information to the Board of Directors, stakeholders, and the communities it serves.

Each ACFR includes financial statements and statistical data that provide full and transparent disclosure of all material financial activities. The financial statements, supplemental schedules, and all accompanying data are the responsibility of management, which ensures the report’s accuracy, completeness, and fairness.

The COMET has been recognized for its excellence in financial reporting, earning the Certificate of Achievement in Financial Reporting for seven (7) consecutive years.

The operating and capital project assistance from federal funds is subject to a financial statement audit under Government Auditing Standards and a compliance audit as required by CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.