Financial Statements of the United States Government for the Fiscal Years Ended September 30, 2024, and 2023
The consolidated financial statements of the U.S. government were prepared using GAAP. These statements include the accrual-based financial statements and the sustainability financial statements, which are discussed in more detail below, and the related notes to the consolidated financial statements. Collectively, the accrual-based financial statements, the sustainability financial statements, and the notes represent basic information that is deemed essential for the consolidated financial statements to be presented in conformity with GAAP.
Accrual-based Financial Statements
The accrual-based financial statements present historical information on what the federal government owns (assets) and owes (liabilities) at the end of the year, what came in (revenues) and what went out (net costs) during the year, and how accrual-based net operating costs of the federal government reconcile to the budget deficit and changes in its cash balance during the year. The following sections discuss each of the accrual-based financial statements.
Statements of Operations & Changes in Net Position
Reconciliations of Net Operating Cost & Budget Deficit
Statements of Changes in Cash Balance from Budget & Other Activities
Statements of Long-Term Fiscal Projections
- Current Report: Fiscal Year 2024 - PDF version
By Section
- A Message from the Secretary of the Treasury - PDF version
- Table of Contents - PDF version
- The Nation By The Numbers
- Executive Summary - PDF version
- Management's Discussion & Analysis - PDF version
- Statement of the Comptroller General of the United States - PDF version
- Financial Statements - PDF version
- Statements of Net Cost
- Statements of Operations and Changes in Net Position
- Reconciliations of Net Operating Cost and Budget Deficit
- Statements of Changes in Cash Balance from Budget and Other Activities
- Balance Sheets
- Statements of Long-Term Fiscal Projections
- Statements of Social Insurance
- Statement of Changes in Social Insurance Amounts
- Notes to the Financial Statements - PDF version
- Note 1. Summary of Significant Accounting Policies - PDF version
- Note 2. Cash and Other Monetary Assets - PDF version
- Note 3. Accounts Receivable, Net - PDF version
- Note 4. Loans Receivable, Net and Loan Guarantees - PDF version
- Note 5. Inventory and Related Property, Net - PDF version
- Note 6. Property, Plant, and Equipment, Net - PDF version
- Note 7. Investments in Government-Sponsored Enterprises - PDF version
- Note 8. Investments - PDF version
- Note 9. Advances and Prepayments - PDF version
- Note 10. Other Assets - PDF version
- Note 11. Accounts Payable - PDF version
- Note 12. Federal Debt and Interest Payable - PDF version
- Note 13. Federal Employee and Veteran Benefits Payable - PDF version
- Note 14. Environmental and Disposal Liabilities - PDF version
- Note 15. Benefits Due and Payable - PDF version
- Note 16. Insurance and Guarantee Program Liabilities - PDF version
- Note 17. Advances from Others and Deferred Revenue - PDF version
- Note 18. Other Liabilities - PDF version
- Note 19. Collections and Refunds of Federal Revenue - PDF version
- Note 20. Commitments - PDF version
- Note 21. Contingencies - PDF version
- Note 22. Funds from Dedicated Collections - PDF version
- Note 23. Fiduciary Activities - PDF version
- Note 24. Long-Term Fiscal Projections - PDF version
- Note 25. Social Insurance - PDF version
- Note 26. Stewardship Property, Plant, and Equipment - PDF version
- Note 27. Disclosure Entities and Related Parties - PDF version
- Note 28. Public-Private Partnerships - PDF version
- Note 29. Subsequent Events - PDF version
- Required Supplementary Information (Unaudited) - PDF version
- The Sustainability of Fiscal Policy - PDF version
- Social Insurance - PDF version
- Deferred Maintenance and Repairs - PDF version
- Other Claims for Refunds - PDF version
- Tax Assessments - PDF version
- Federal Oil and Gas Resources - PDF version
- Federal Natural Resources Other than Oil and Gas - PDF version
- Land and Permanent Land Rights - PDF version
- Other Information (Unaudited) - PDF version
- Tax Burden - PDF version
- Tax Gap - PDF version
- Tax Expenditures - PDF version
- Appendices
- Appendix A: Reporting Entity - PDF version
- Appendix B: Glossary of Acronyms - PDF version
- U.S. Government Accountability Office (GAO) Auditor's Report - PDF version
- Related Resources
Certain material weaknesses, limitations, and uncertainties prevented the Government Accountability Office from expressing an opinion on the U.S. Government's consolidated financial statements included in the Financial Report and, therefore, GAO disclaimed an opinion on such statements. Certain information included on or referenced in this website, such as individual agency financial reports that were audited by other auditors, is separate from and not specifically reported in the Financial Report and therefore not covered by GAO's disclaimer.