Guide to Local Government Financial Statements
The Ministry has prepared a set of
(1.4 MB) for the fictional City of Anywhere, and it forms the basis for
the Guide to Local
Government Financial Statements
(292 KB) . This Guide is intended to provide examples
and explanations of the typical information contained in a local government’s
annual audited financial statements.
A sample page showing each of the four main elements of the financial statements
is included with a set of explanatory notes and hints for each one. A glossary
of terms is included at the end of the document along with a series of questions
and answers that may assist in the understanding of these documents.
The questions represent those that someone such as a council member or resident
may have when looking at the financial statements. Some of the questions and
their explanations are not directly related to specific items in the financial
statements, but would relate to the amount of revenue or expenses.