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State of MaineGAAP Financial Statements Closing Packager The Fiscal Year Ended June 30, 2024TABLE OF CONTENTS FINANCIAL REPORTING TEAM 4 Introduction 4 GENERAL INFORMATION 5 Revenues and Amounts Receivable 5 Expenditures/Expenses
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Financial statements - town refer to the documents that show the financial position, performance, and cash flows of a town or municipality.
Town officials, including mayors, city managers, and finance directors, are typically required to file financial statements for their respective towns.
Financial statements for a town can be filled out by gathering financial data, preparing income statements, balance sheets, and cash flow statements, and then submitting the completed documents to the appropriate authorities.
The purpose of financial statements for a town is to provide transparency and accountability to residents, investors, and other stakeholders by showing the financial health and performance of the town.
Financial statements for a town must report financial data such as revenues, expenses, assets, liabilities, and fund balances.
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