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Financial Reporting & Analysis

As Manager of the Financial Reporting & Analysis Division, I would like to welcome you to our website, which provides information for citizens, financial analysts, investors and State of Maine employees. I invite you to explore and make use of the information available on our website. The Financial Reporting & Analysis Division prepares and distributes numerous financial reports, including:

  • Maine's Comprehensive Annual Financial Report, which is prepared in accordance with generally accepted accounting principles (GAAP);
  • Maine's Schedule of Expenditures of Financial Awards (SEFA), which is prepared in accordance with the United States Office of Management & Budget (OMB) Circular A-133;
  • The State's Monthly Undedicated Revenue Reports for the General and Highway Funds; and,
  • Selected budgetary financial information, prepared on the State's modified cash basis of accounting.

This Division is responsible for coordinating the annual financial closing process with all State agencies and Component Units; coordinating the annual financial audit and Statewide Single Audit with the State Auditor; and, compiling the Statewide Cost Allocation Plan (STA-CAP). This Division also coordinates reporting governmental capital assets, as well as trust and proprietary fund assets.

Members of our staff act as Agency Liaisons to provide technical assistance, training and information to CFO's and other financial personnel statewide. Our continuing goal is to help State agencies develop sound internal controls, properly record financial transactions, and comply with all applicable laws and rules relating to financial matters.

We are committed to providing comprehensive and useful financial information for the State of Maine. I hope you will find the information and services available on the website informative and useful. If you have suggestions or comments regarding the website, please e-mail me at Brenda.Palmer@maine.gov.

Brenda Palmer, CPA
Financial Reporting & Analysis