What is the Annual Financial Statement (AFS)?

Section 701 of the MMFLA and Rule 20 of the Marihuana Licenses rules – R 420.20 requires medical facility licensees to annually submit to the Cannabis Regulatory Agency (CRA) financial statements of the licensee’s total operations in a manner and form determined by CRA.  The CRA has created an annual financial statement form report that must be utilized.  No other type of report format will be accepted.  The Contact Authorization – Medical AFS form, the Confirmation of Section 701 Compliance form, and the CPA Attestation of Practice Authority form must also be submitted with the AFS report. Reporting periods and annual requirements are announced by bulletin.  The current bulletin may be found here.  The AFS report form can be found here. The Contact Authorization – Medical AFS form can be found here. The Confirmation of Section 701 Compliance form can be found here. The CPA Attestation of Practice Authority form can be found here.