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COUNTY CODE MEETINGS OF AUDITORS, AUDIT OF ACCOUNTS BY AUDITORS AND FINANCIAL REPORT TO DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT Act of Jul. 2, 2007, P.L. 71, No. 22 Cl. 16 Session of 2007

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How to fill out financial report to department

How to fill out a financial report to the department:

01

Start by gathering all the necessary financial information for the report, such as income, expenses, assets, and liabilities.

02

Organize the information into appropriate categories or sections, such as revenue, expenses, and balance sheet.

03

Use a template or create a standardized format for the financial report. This will help ensure consistency and ease of understanding for the department.

04

Begin with a clear and concise introductory section, providing an overview of the financial report's purpose and the period it covers.

05

Include a detailed breakdown of the revenue sources, outlining the different types and amounts received during the specified period.

06

Provide an itemized list of all expenses incurred by the department, categorizing them into relevant sections such as salaries, utilities, and supplies.

07

Create a balance sheet that presents the financial position of the department, including assets, liabilities, and the net worth or equity.

08

Consider including explanatory notes or comments wherever necessary, especially for any significant changes or anomalies in the financial data.

09

Make sure to review the financial report for accuracy and completeness before submitting it to the department.

Who needs the financial report to the department:

01

The department manager or head of the department requires the financial report to assess the financial performance and health of the department.

02

The finance department or accounting team needs the financial report to analyze the department's financials and ensure compliance with regulations and budgets.

03

Executives or higher-level management may require the financial report to have a comprehensive understanding of the department's financial contributions and performance.

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