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UTILITY NO. 5940 Class CWATER, ELECTRIC, OR JOINT UTILITY ANNUAL REPORT OF TREMPEALEAU MUNICIPAL ELECTRIC AND WATER UTILITY 24455 3RD STREET, PO BOX 247 TREMPEALEAU, WI 546610247 For the Year Ended: DECEMBER 31, 2022 TO PUBLIC SERVICE COMMISSION OF WISCONSIN P.O. Box 7854 Madison, WI 537077854 (608) 2663766Signature Page (Page ii) General Footnote ACCOUNTANTSYear Ended: December 31, 2022Utility No. 5940 Trempealeau Municipal Electric and Water UtilityPage 1 of Schedule iiiTable
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01
Gather all financial records, including receipts, invoices, and bank statements.
02
Classify income by sources such as property taxes, grants, and fees.
03
List all expenses categorized by department or function, including operational costs and capital expenditures.
04
Prepare a balance sheet indicating assets, liabilities, and equity of the village.
05
Compile income statements showing total income, total expenses, and net income or loss.
06
Ensure all figures are accurate and supported by documentation.
07
Review financial statements for compliance with local regulations and accounting standards.
08
Submit the completed financial statements to the village council or relevant authority.

Who needs village financial statements?

01
Village officials and council members for financial oversight.
02
Residents for transparency and accountability.
03
Local government agencies for compliance and funding purposes.
04
Auditors for financial reviews and audits.
05
Grant providers and donors for assessing financial health.
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Village financial statements are formal records that outline the financial activities and position of a village government, showing income, expenses, assets, and liabilities.
Typically, village government entities, including mayors, village councils, and designated financial officers, are required to file these financial statements as mandated by state or local regulations.
To fill out village financial statements, gather the necessary financial information, categorize transactions into income and expenses, complete the forms according to any provided guidelines, and ensure all information is accurate and verifiable.
The purpose of village financial statements is to provide transparency regarding the financial health of the village, facilitate budget planning, and ensure compliance with financial regulations.
Village financial statements must report information such as revenues (taxes, grants, fees), expenditures (operating costs, capital projects), assets (cash, property, equipment), and liabilities (debts, obligations).
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