Content and data provided by various third parties and Fidelity - Terms of Use
Print.Print
Small font size A Larger text size A Largest text size A

Nevada releases fiscal 2024 audited financials

BY SourceMedia | MUNICIPAL | 02:12 PM EDT By Keeley Webster

Nevada notched some progress in its work to get the state's audited financials out, releasing the fiscal year 2024 documents.

The annual comprehensive financial report posted to the Municipal Rulemaking Board's EMMA website on Friday ? just shy of two years after the fiscal year ended.

"I'm very pleased that with the issuance of Nevada's Fiscal Year 2024 Annual Comprehensive Financial Report, we have made significant improvement in the timeliness of our issuance compared to Fiscal Year 2023," said Andy Matthews, Nevada's state controller.

The FY23 ACFR was posted to EMMA in August 2025.

Matthews said the release of the financials "represents a critical step in the right direction."

The Nevada controller told The Bond Buyer in an interview for an article published Friday that he plans to speak with lawmakers when they return in February on additional efforts to speed up the state's reporting.

"I also recognize that we must build on this momentum and demonstrate even greater progress in the years ahead. I look forward to working with Nevada's policymakers to explore all avenues that will allow us to continue to get our state back to timely financial reporting," Matthews said.

Nevada has the dubious distinction of being the slowest state to release its audited financials. The Government Finance Officers Association recommends that issuers release them within six months after the end of the fiscal year.

Up next: audited financials for fiscal year 2025, which ended a year ago.

The state hasn't been under 180 days in releasing its audited financials since 2016, according to Richard Ciccarone, president emeritus of Merritt Research Services, an Investortools company.

Matthews took office as Nevada's 23rd state controller on Jan. 2, 2023.

"We are appreciative of Controller Andy Matthews and his staff for their hard work in publishing the latest Annual Comprehensive Financial Report in advance of the State of Nevada's upcoming 2026 bond sale," Nevada State Treasurer Zach Conine said in a statement provided to The Bond Buyer.

The state is planning to issue general obligation bonds in the fall, according to a spokesman.

More Fixed Income News

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

© 1998 – 2014 FMR LLC.

All rights reserved.
fir_news_article