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MUNICIPAL DOCKET MAYOR AND BOARD OF ALDERMEN MEETING OCTOBER 4, 2016, BEGINNING AT 6:00 P.M. ********************************************************************* Meeting Called To Order Mayor Allen
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How to fill out comprehensive annual financial report

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Gather all financial data including revenues, expenses, assets, and liabilities.
02
Organize the data in a structured format following the guidelines provided by the Governmental Accounting Standards Board (GASB).
03
Prepare the financial statements including statement of activities, statement of net position, and statement of cash flows.
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Include footnotes and other supplementary information to provide additional context and explanations for the numbers presented.
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Obtain necessary approvals and signatures from relevant authorities.
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Publish the comprehensive annual financial report according to the specified deadlines and distribution requirements.

Who needs comprehensive annual financial report?

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Government entities such as cities, counties, and states are required by law to prepare and publish comprehensive annual financial reports.
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Credit rating agencies, investors, and bondholders rely on comprehensive annual financial reports to assess the financial health and performance of the government entity.
03
Stakeholders including taxpayers, citizens, and oversight bodies use comprehensive annual financial reports to understand how government funds are being managed and budgeted.
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A comprehensive annual financial report (CAFR) is a set of government financial statements that complies with U.S. GAAP and provides a full and detailed presentation of a government entity's financial condition.
Government entities such as states, cities, counties, and school districts are required to file a comprehensive annual financial report.
To fill out a comprehensive annual financial report, government entities must gather financial data, adhere to accounting standards, and provide detailed explanations of financial activities.
The purpose of a comprehensive annual financial report is to provide transparency and accountability to stakeholders by presenting a government entity's financial position and performance.
A comprehensive annual financial report must include financial statements, management's discussion and analysis, notes to the financial statements, and supplementary information.
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