The Michigan Cannabis Regulatory Agency has published rules for the AFS report form and an instruction booklet that contain the required procedures, schedules, instructions, and examples for proper completion of the fiscal year 2024 report.
The AFS report must cover all medical facility licenses and all adult-use establishment licenses held by the licensee at any time during the reporting period. The AFS report is an agreed-upon procedures engagement that must be conducted by an independent certified public accountant (CPA) – licensed or authorized to practice in this state – and performed in accordance with the statements on standards for attestation engagements.
The CPA must communicate his or her findings using the AFS report form. No other report will be accepted. This report must also be submitted as an excel document. A troubleshooting resource has been provided to assist CPAs with adding the CPA signature to the AFS report.
Please note: The AFS report will NOT be accepted unless the CPA and the CPA firm are actively licensed AND registered in Peer Review prior to completing the AFS Report. The licensee should ensure that the CPA meets the requirements before engaging the CPA to complete the AFS Report. The licensee must submit the completed AFS report and the AFS Contact Authorization form to CRA online through the Accela Citizens Access Portal (ACA).
A resource has been provided with AFS submission instructions. The prior CPA Attestation of Practice Authority form has been eliminated and the necessary information is now included in the cover sheet of the AFS Report. The complete AFS report must be received by the CRA by the due date. Licensees filing a late AFS report will be forwarded to the CRA Legal Section for possible disciplinary action. Please be aware, an incomplete report will be returned and will not be accepted as having been filed by the due date.
The CRA recommends a licensee turn in its report early to ensure any missing information is completed so that the report may be accepted by the due date. A licensee wishing to verify its next AFS due date may do so online through ACA. A resource has been provided with instructions for Verifying the Licensee’s AFS Due Date.
Each licensed entity has been assigned a financial compliance record (FCR) number designated by FCR-XXXXXX. Licensees with medical facilities and adult-use establishments share the same FCR number. The expiration date listed for the FCR is the next AFS due date for the licensee, unless otherwise required by the CRA. Please note, an expiration date of 12/31/2099 means that the licensee has not yet been assigned a due date. Licensees required to file an AFS report in FY24 will begin receiving notices via email from CRA-AFS@michigan.gov six months before their required AFS report is due, to remind them of their filing requirement.
The notice will specify the due date, reporting period, and licenses that are to be included in the AFS report. The CRA strongly recommends licensees engage a Certified Public Accountant (CPA) immediately upon receipt of the notice to allow sufficient time for the AFS report to be completed prior to the deadline.
The AFS report must be filed by the due date indicated on the licensee’s notice or the licensee may face disciplinary action. For further information, see MCL 333.27701 and Michigan Admin Code, R 420.20. Marijuana event organizer licenses, designated consumption establishment licenses, and marijuana educational research licensees are exempt from the reporting requirement for FY24.
For questions regarding the AFS requirements, please email CRA-AFS@michigan.gov or contact the CRA by phone at 517-284-8599.
For more information about the CRA, please visit michigan.gov/afs.