2022 North Dakota financial report released

BISMARCK, N.D. – The Office of Management and Budget (OMB) today released the 2022 Annual Comprehensive Financial Report (ACFR) for the period from July 1, 2021 to June 30, 2022.

“The 2022 North Dakota ACFR shows the state in a strong financial position heading into this fiscal year,” said Office of Management and Budget Director Joe Morrissette. “With North Dakota’s net position and general fund balance seeing moderate growth, both boast record-highs at $30.13 billion and $10.94 billion, respectively.”

Morrissette noted that the ACFR is an annual state report that compiles the fiscal activity for all of state government. It is a collaborative project that involves all agencies and institutions of state government, including the Office of the State Auditor as they audit the ACFR each year.

“This report is one of many ways that North Dakota works to provide transparency for our citizens regarding the financial operations of state government,” Morrissette added. “Thank you to the dedicated team at OMB for preparing the report, to the agencies for prioritizing this work, and to the Office of the State Auditor for completing their audit in a timely manner each year.”

North Dakota maintained its high ranking from nonpartisan watchdog organization Truth in Accounting. In its 2022 Financial State of the States report, North Dakota received an “A” grade and the second highest score among all states for the overall health of the state financial condition.

Validating the quality of the financial reporting team’s work in preparing the state ACFR, North Dakota was awarded the Certificate of Achievement for Excellence in Financial Reporting for its 2021 ACFR by the Government Finance Officers Association of the United States and Canada (GFOA) for the 30th year in a row.