What are Consolidated Financial Statements for a Municipality?

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Consolidated financial statements provide an overall picture of a municipality’s financial position. They combine the revenues, expenses, assets, liabilities, and financial activities of the municipality, along with those of organizations, funds, or entities that fall under its responsibility or control.

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These financial statements help residents gain a clear understanding of the municipality’s financial health and how public resources are being managed. They support transparency, accountability, and sound financial management practices.

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Consolidated financial statements are prepared according to established public sector accounting standards and are audited by independent auditors to ensure the accuracy and reliability of the information presented.