Common Reporting Deficfencies. Improving Financial Reporting – Transmittal Letter Hit all the required elements Profile of the Government Profile of

Common Reporting Common Reporting DeficfenciesDeficfencies

Improving Financial Improving Financial Reporting –Reporting –Transmittal LetterTransmittal Letter Hit all the required elementsHit all the required elements

• • Profile of the GovernmentProfile of the Government

• • The economy and outlook - The economy and outlook - Get visual!Get visual!

• • Major initiatives - Infrastructure, Major initiatives - Infrastructure, Health Health Care, Environment, Care, Environment, TechnologyTechnology

• • Awards & acknowledgementsAwards & acknowledgements

ChartsCharts and Graphs and Graphs

Average or Median Home PriceAverage or Median Home Price Population per Capita IncomePopulation per Capita Income Funded LT Liabilities – OPEB or Funded LT Liabilities – OPEB or

PensionPension Trends for Significant RevenuesTrends for Significant Revenues Look to the Statistical SectionLook to the Statistical Section

Improving Financial Improving Financial Reporting –Reporting –Transmittal LetterTransmittal Letter

Involve others outside of Finance…Involve others outside of Finance… Budget OfficeBudget Office Economic DevelopmentEconomic Development Provide helpful references for readersProvide helpful references for readers

• • Adopted Budget, Capital Planning, Adopted Budget, Capital Planning, etc…etc…

Who reviews the Transmittal Letter?Who reviews the Transmittal Letter? Dated after audit opinionDated after audit opinion On your letterheadOn your letterhead

The MD&AThe MD&A

Quantify changes but don’t forget Quantify changes but don’t forget the why?the why?

Create an analytical tool to assist Create an analytical tool to assist with MD&Awith MD&A

Challenges with large $ amount & % Challenges with large $ amount & % changechange• • Where to start, how to hone in?Where to start, how to hone in?

Don’t wait until the endDon’t wait until the end

GCGGCG 6611

The MD&AThe MD&A

Budget Analysis For The General Budget Analysis For The General Fund Should Be Comprehensive Fund Should Be Comprehensive

• Should Address Variances Between Both Should Address Variances Between Both The Original And Final Amended BudgetThe Original And Final Amended Budget

• Final Amended Budget And Actual Final Amended Budget And Actual ResultsResults

GCGGCG 7711

The MD&AThe MD&A

Data for comparative basic financial Data for comparative basic financial statements should be complete statements should be complete

– Complete means that each year must Complete means that each year must comply with the authoritative standards comply with the authoritative standards and essentially stand alone as a set of and essentially stand alone as a set of basic financial statements. basic financial statements.

– Include condensed financial data and Include condensed financial data and comparative analysis for each of the last 3 comparative analysis for each of the last 3 years years

GCGGCG 8811

The MD&AThe MD&A

Data for comparative basic financial Data for comparative basic financial statements should be complete statements should be complete

Merely presenting the numbers does not satisfy Merely presenting the numbers does not satisfy this requirement. A narrative analysis of changes this requirement. A narrative analysis of changes between both sets of years is also mandatory.between both sets of years is also mandatory.

Current year vs. previous year Current year vs. previous year Previous year vs. two years prior Previous year vs. two years prior

GCGGCG 9911

The MD&AThe MD&A

Includes a Discussion Of Capital Includes a Discussion Of Capital Assets And Long-term Debt ActivityAssets And Long-term Debt Activity

Reference To Notes Does Not Replace Reference To Notes Does Not Replace DiscussionDiscussion

The purpose of the discussion is to recap The purpose of the discussion is to recap specific capital asset and long-term debt specific capital asset and long-term debt activity that occurred during the year. activity that occurred during the year.

MD & A – Capital ActivityMD & A – Capital Activity

Don’t leave this out. Readers want to Don’t leave this out. Readers want to know!know!

• • What was purchased during the What was purchased during the year?year?

• • What’s been disposed of during the What’s been disposed of during the year?year?

Plans for the future? Capital budget Plans for the future? Capital budget plan?plan?

GCGGCG 111111

Capital Asset Narrative Example Capital Asset Narrative Example

The major capital events during the current fiscal The major capital events during the current fiscal year were additions to infrastructure of $9.9 million, year were additions to infrastructure of $9.9 million, remodeling costs to the County’s federally qualified remodeling costs to the County’s federally qualified health center for $1.1 million and the Public Health health center for $1.1 million and the Public Health Facility for $2.6 million, and $0.7 million in Facility for $2.6 million, and $0.7 million in renovation costs for the new Public Works renovation costs for the new Public Works Customer Service Center. Customer Service Center.

Additional information on the County’s capital Additional information on the County’s capital assets can be found in Note III.C. in the Notes to assets can be found in Note III.C. in the Notes to Basic Financial Statements section of this report. Basic Financial Statements section of this report.

GCGGCG 121211

Long-term Debt Narrative Example Long-term Debt Narrative Example

Bonded debt decreased overall by $5.7 Bonded debt decreased overall by $5.7 million primarily due to ongoing debt million primarily due to ongoing debt service payments for the 1998 Wastewater service payments for the 1998 Wastewater System and the Authority’s 2002 System and the Authority’s 2002 Certificates of Participation. Additional Certificates of Participation. Additional information on long-term liabilities can be information on long-term liabilities can be found on pages 70-76 in the notes to basic found on pages 70-76 in the notes to basic financial statements. financial statements.

GCGGCG 131311

G-W Statement of Net PositionG-W Statement of Net Position Net pension/OPEB obligation are netted with Net pension/OPEB obligation are netted with

pension/OPEB assetspension/OPEB assets

Net pension/OPEB obligation not presented as Net pension/OPEB obligation not presented as long-termlong-term– Should be noncurrent in classified approachShould be noncurrent in classified approach– Should be reported as “due in more than one year” Should be reported as “due in more than one year”

under the relative order of liquidityunder the relative order of liquidity

Debt not net of related premiums and discountsDebt not net of related premiums and discounts– Should be netted to present debt carrying valueShould be netted to present debt carrying value

GCGGCG 141411

G-W Statement of Net PositionG-W Statement of Net Position

Miscalculation Of Net Investment In Miscalculation Of Net Investment In Capital AssetsCapital Assets– Unspent Proceeds Should be ExcludedUnspent Proceeds Should be Excluded– Significant Retainage Should be Significant Retainage Should be

IncludedIncluded– Significant Accounts and Contracts Significant Accounts and Contracts

Payable Should be IncludedPayable Should be Included– Bond Issuance Costs Should be Bond Issuance Costs Should be

ExcludedExcluded

GCGGCG 151511

G-W Statement of Net PositionG-W Statement of Net Position

Miscalculation Of Net Investment Miscalculation Of Net Investment In Capital AssetsIn Capital Assets– Accrued Liabilities Should be ExcludedAccrued Liabilities Should be Excluded– Intangible Assets Should be IncludedIntangible Assets Should be Included– Refunding Bonds Should be Included Refunding Bonds Should be Included

When Refunded Debt Was Capital-When Refunded Debt Was Capital-relatedrelated

GCGGCG 161611

Restricted Net PositionRestricted Net Position

Reasons for reporting a part of net position as Reasons for reporting a part of net position as restricted should be presented in detail restricted should be presented in detail

By major category By major category – Significant amounts of net assets should not be Significant amounts of net assets should not be

subdivided into generic categories such as other purposes subdivided into generic categories such as other purposes or special purposes. or special purposes.

– Restricted for use by special revenue funds is too generic. Restricted for use by special revenue funds is too generic.

Display on the face of the statement of net positionDisplay on the face of the statement of net position Disclosure in the notes is not a substitute for display Disclosure in the notes is not a substitute for display

(see Q&A 7.22.8) (see Q&A 7.22.8)

GCGGCG 171711

G-W Statement of ActivitiesG-W Statement of Activities

Recipients Of Shared Taxes Generally Recipients Of Shared Taxes Generally Report Them As Tax General Revenues in Report Them As Tax General Revenues in Error (i.e., cities receiving SPLOST from Error (i.e., cities receiving SPLOST from counties)counties)

– Not A Tax From Viewpoint Of RecipientNot A Tax From Viewpoint Of Recipient– Should Be Classified As Program Revenue (If Should Be Classified As Program Revenue (If

Restricted To A Function) Otherwise It Is Restricted To A Function) Otherwise It Is General RevenueGeneral Revenue

GCGGCG 181811


Includes Special Items That Are Not Includes Special Items That Are Not SignificantSignificant

– Significance Of The Special Item Is Judged Significance Of The Special Item Is Judged Based On Where It Is Reported (Q&A 7.67.2)Based On Where It Is Reported (Q&A 7.67.2)

– Item Can Be Significant In The Fund Financial Item Can Be Significant In The Fund Financial Statements But Not The Government-wide Statements But Not The Government-wide (And Vice Versa)(And Vice Versa)

GCGGCG 191911


Capital Outlay Presented As Capital Outlay Presented As A Governmental Activities A Governmental Activities Functional CategoryFunctional Category

–Detail Of Expenses Should Be Detail Of Expenses Should Be By Function Not Character By Function Not Character ClassificationClassification

GCGGCG 202011


Intergovernmental Expenses Should Intergovernmental Expenses Should Not Be Presented As A Separate Not Be Presented As A Separate FunctionFunction

Expenses Should Be By Function Expenses Should Be By Function Except For Extraordinary And Except For Extraordinary And Special ItemsSpecial Items

GCGGCG 212111


Significant “Other” Program Significant “Other” Program Revenues ReportedRevenues Reported

If Other Has Become Significant, If Other Has Become Significant, Consider a Breakout for Additional Consider a Breakout for Additional Revenue Line ItemsRevenue Line Items

GCGGCG 222211

Fund Financial Statements - Fund Financial Statements - GeneralGeneral

Funds That Meet The Threshold Of A Funds That Meet The Threshold Of A Major Fund Are Reported As NonmajorMajor Fund Are Reported As Nonmajor

– Calculation To Determine Major Calculation To Determine Major Funds Must Be Performed Each YearFunds Must Be Performed Each Year

– Classification Can Change From One Classification Can Change From One Fiscal Year To The Next Without Any Fiscal Year To The Next Without Any Consistency ConcernConsistency Concern

GCGGCG 232311

Fund Financial Statements - Fund Financial Statements - GeneralGeneral

Funds That Meet The Threshold Of A Funds That Meet The Threshold Of A Major Fund Are Reported As Major Fund Are Reported As NonmajorNonmajor

– Threshold Applies To The Final Threshold Applies To The Final Numbers Reported In The Fund Numbers Reported In The Fund Financial StatementsFinancial Statements

GCGGCG 242411

Governmental FundsGovernmental Funds

Inflows and outflows related to current and advance Inflows and outflows related to current and advance refundings should be separately presented on the refundings should be separately presented on the operating statement operating statement

– Debt issuance should be an other financing source Debt issuance should be an other financing source

– Use of the proceeds for the refunding should be Use of the proceeds for the refunding should be reported appropriately based on the type of reported appropriately based on the type of refunding :refunding :

• Current refunding = expenditure Current refunding = expenditure • Advance refunding = other financing useAdvance refunding = other financing use

GCGGCG 252511


Report liabilities that are not due and Report liabilities that are not due and payable as of the end of the fiscal yearpayable as of the end of the fiscal year

Compensated absences (determination Compensated absences (determination made based on whether the employee made based on whether the employee separated from service on or before separated from service on or before fiscal year end)fiscal year end)

Claims and judgmentsClaims and judgments

GCGGCG 262611


Other financing sources/uses reported for items Other financing sources/uses reported for items not identified in GAAP. Other financing sources not identified in GAAP. Other financing sources are:are:

The issuance of long-term debtThe issuance of long-term debt Bond premiums Bond premiums Material sales of capital assets (unless they Material sales of capital assets (unless they

qualify as a special item) qualify as a special item) Proceeds from insurance recoveriesProceeds from insurance recoveries Interfund transfers in Interfund transfers in

GCGGCG 272711


Other financing uses are:Other financing uses are:

Original issue discounts on the issuance of debt, Original issue discounts on the issuance of debt, The application of the proceeds of the refunding The application of the proceeds of the refunding

bonds to refund the existing debtbonds to refund the existing debt Interfund transfers out, Interfund transfers out,

GCGGCG

The New Fund BalanceThe New Fund Balance

Special revenue funds Special revenue funds – Should not have significant Should not have significant

expenditures for capital outlays expenditures for capital outlays – Must be supported by specific revenues Must be supported by specific revenues

that comprise a substantial amount of that comprise a substantial amount of the inflows into the fund. the inflows into the fund.

Substantial ≠ majority Substantial ≠ majority

GCGGCG 292911

The New Fund BalanceThe New Fund Balance

Restricted, committed, assigned, and Restricted, committed, assigned, and unassigned unassigned

– Negative restricted or committed fund Negative restricted or committed fund balance is inappropriate balance is inappropriate

– Only the General Fund can have positive Only the General Fund can have positive unassigned fund balanceunassigned fund balance

– Assignment of fund balance only Assignment of fund balance only appropriate if there is available unassigned appropriate if there is available unassigned fund balance to assignfund balance to assign

GCGGCG 303011

The ReconcilationsThe Reconcilations

• Reconciliations to government-Reconciliations to government-wide financial statements have wide financial statements have inadequate detailinadequate detail

• Detail should be provided for Detail should be provided for combined or net reconciling itemscombined or net reconciling items

• If not displayed the detail should If not displayed the detail should be in the notes to the financial be in the notes to the financial statementsstatements

GCGGCG 313111

Proprietary FundsProprietary Funds

Reasons for reporting a part of net Reasons for reporting a part of net position as restricted should be presented position as restricted should be presented in detailin detail

– By major categoryBy major category

• Significant amounts of net position should not be Significant amounts of net position should not be

subdivided into generic categories such as other subdivided into generic categories such as other purposes or special purposes. purposes or special purposes.

GCGGCG 323211

Proprietary FundsProprietary Funds Capital Contributions Should Be Capital Contributions Should Be

Consistently Reported Between The Consistently Reported Between The Proprietary Fund And Government-wide Proprietary Fund And Government-wide Financial StatementsFinancial Statements

– No Difference In Measurement Focus No Difference In Measurement Focus Between These Statements So The Between These Statements So The Amounts Should Be IdenticalAmounts Should Be Identical

– ““Negative capital contributions” should Negative capital contributions” should not be reported not be reported

GCGGCG 333311

Proprietary FundsProprietary Funds

Miscellaneous Or Other Cash Flows Are Miscellaneous Or Other Cash Flows Are Included In An Inappropriate Category Included In An Inappropriate Category (E.G., Noncapital Financing)(E.G., Noncapital Financing)

If The Definition Of Any Of The Four If The Definition Of Any Of The Four Categories Is Not Met The Cash Flow Is Categories Is Not Met The Cash Flow Is Reported In Operating Activities As The Reported In Operating Activities As The Residual CategoryResidual Category

GCGGCG 343411

Transfer of Capital AssetsTransfer of Capital Assets

Governmental activities to Business-type Governmental activities to Business-type Activities Activities – Capital contribution reported Capital contribution reported

Business-type activities to Governmental Business-type activities to Governmental Activities Activities – Nonoperating expense reported (no longer Nonoperating expense reported (no longer

considered an interfund activity) considered an interfund activity)

GCGGCG 353511

Fiduciary FundsFiduciary Funds

Pension plans and OPEB plans should Pension plans and OPEB plans should be reported in one pension and other be reported in one pension and other postemployment benefit trust “column” postemployment benefit trust “column” in the basic financial statementsin the basic financial statements

The principal subdivisions of The principal subdivisions of investments should be reported as investments should be reported as separate line-items separate line-items

GCGGCG 363611

Note DisclosuresNote Disclosures

Generic Description Of The Criteria Generic Description Of The Criteria Used To Include Component UnitsUsed To Include Component Units

– Criteria Needs To Be Specific To The Criteria Needs To Be Specific To The Component Unit Whether It’s Blended Component Unit Whether It’s Blended Or Discretely PresentedOr Discretely Presented

GCGGCG 373711

Note DisclosuresNote Disclosures Relevant Investment Policies For Various Relevant Investment Policies For Various

Applicable Risks Are Not Disclosed (Credit Applicable Risks Are Not Disclosed (Credit Risk, Concentration Risk, Interest Rate Risk, Risk, Concentration Risk, Interest Rate Risk, Foreign Currency Risk)Foreign Currency Risk)

Needs To Be An Adopted Policy Not A Needs To Be An Adopted Policy Not A Description Of PracticeDescription Of Practice

If No Such Policy, Disclose That Fact If No Such Policy, Disclose That Fact

GCGGCG 383811


Changes In Long-term Liabilities Changes In Long-term Liabilities NettedNetted

– Increases And Decreases Should Be Increases And Decreases Should Be Separately DisplayedSeparately Displayed

GCGGCG 393911


Long-term liabilities note disclosure Long-term liabilities note disclosure – It is recommended that the purpose of It is recommended that the purpose of

each debt issuance be disclosed each debt issuance be disclosed

GCGGCG 404011


Long-term liabilities note disclosure Long-term liabilities note disclosure It is required that the notes disclose It is required that the notes disclose

which funds liquidate each long-term which funds liquidate each long-term liability other than debt liability other than debt • compensated absencecompensated absence• claims and judgmentsclaims and judgments• termination benefits termination benefits • pension and OPEB liabilities pension and OPEB liabilities

GCGGCG 414111


Disclosures For Future Revenues Pledged Disclosures For Future Revenues Pledged To Support Debt Should Include:To Support Debt Should Include:

Specific Revenue Source And Approximate Specific Revenue Source And Approximate AmountAmount

Secured Debt And Its PurposeSecured Debt And Its PurposePeriod Of CommitmentPeriod Of CommitmentProportion Of Revenue Stream PledgesProportion Of Revenue Stream PledgesComparison Of Pledged Revenue To Debt Comparison Of Pledged Revenue To Debt

ServiceService

GCGGCG 424211

RSIRSIBudgetary Comparisons Should Budgetary Comparisons Should

Note Go Beyond The Allowed ScopeNote Go Beyond The Allowed Scope– May Only Include General Fund And Major May Only Include General Fund And Major

Special Revenue Fund Budgetary Special Revenue Fund Budgetary Comparisons In RSIComparisons In RSI

– May Not Include Other Governmental Fund May Not Include Other Governmental Fund Types Or Nonmajor Special Revenue Types Or Nonmajor Special Revenue FundsFunds• In A CAFR These Are Other Supplementary InformationIn A CAFR These Are Other Supplementary Information

GCGGCG 434311

RSIRSI

Budgetary Disclosures Must be Budgetary Disclosures Must be Presented In The Appropriate Presented In The Appropriate LocationLocation

– If Budgetary Comparisons Are RSI The If Budgetary Comparisons Are RSI The Disclosures Are Notes To The RSIDisclosures Are Notes To The RSI

– However, Any Significant Violation Of However, Any Significant Violation Of Finance-related Legal Provisions Must Finance-related Legal Provisions Must Always Be Included Within The Notes To Always Be Included Within The Notes To The Financial StatementsThe Financial Statements

GCGGCG 444411

RSIRSI

Funding Progress Incomplete When Funding Progress Incomplete When A Separate Single-employer Or A Separate Single-employer Or Agent Multiple-employer Agent Multiple-employer Postemployment Benefit Plan Report Postemployment Benefit Plan Report Is Not IssuedIs Not Issued

Employer Reporting The Pension Employer Reporting The Pension Trust Fund Must Include Six Years Of Trust Fund Must Include Six Years Of Funding Progress InformationFunding Progress Information

GCGGCG 454511

Other SIOther SI

Necessary Budgetary Comparisons Necessary Budgetary Comparisons Missing For Nonmajor Special Revenue Missing For Nonmajor Special Revenue Funds, Debt Service Funds, Capital Funds, Debt Service Funds, Capital Projects Funds, And Permanent FundsProjects Funds, And Permanent Funds

Pre-GASSB 34 Rule Still Applies. CAFR Must Pre-GASSB 34 Rule Still Applies. CAFR Must Have A Comparison For Any:Have A Comparison For Any:

Governmental FundGovernmental Fund– Appropriated/Legally AdoptedAppropriated/Legally Adopted– Annual/Biennial Operating BudgetAnnual/Biennial Operating Budget

GCGGCG 464611

Other SIOther SI

Inadequate Detail For The Budgetary Inadequate Detail For The Budgetary Comparisons Comparisons

Must Be At The Legal Level Of Must Be At The Legal Level Of Budgetary Control For Comparisons Budgetary Control For Comparisons Only Shown In OSI (Nonmajor Special Only Shown In OSI (Nonmajor Special Revenue Funds, Debt Service Funds, Revenue Funds, Debt Service Funds, Capital Projects Funds, And Permanent Capital Projects Funds, And Permanent Funds) Funds)

GCGGCG 474711

Other SIOther SI

General Fund And Major Special General Fund And Major Special Revenue Funds Need Schedules In Revenue Funds Need Schedules In OSI If Comparisons Mandated For OSI If Comparisons Mandated For Basic Financial Statements Do Not Basic Financial Statements Do Not Have Detail At The Legal Level Of Have Detail At The Legal Level Of ControlControl

GCGGCG 484811

Other SIOther SI Negative amounts are being presented for all Negative amounts are being presented for all

components in combining statementscomponents in combining statements

– A negative asset should be reported as a A negative asset should be reported as a liability liability

– A negative liability should be reported as an A negative liability should be reported as an asset asset

– A negative revenue is only appropriate for A negative revenue is only appropriate for investment losses investment losses

– A negative expenditure should be reported A negative expenditure should be reported as a revenue as a revenue

GCGGCG 494911

Other SIOther SI

Statement of changes in assets and Statement of changes in assets and liabilities for agency funds liabilities for agency funds

Changes must be presented for each asset Changes must be presented for each asset and liability line-item and liability line-item

Showing changes for assets and liabilities Showing changes for assets and liabilities in the aggregate does not present a in the aggregate does not present a complete statement as required complete statement as required

GCGGCG 505011

Statistical SectionStatistical Section

– Miscalculation Of Debt Service As A Miscalculation Of Debt Service As A Percentage Of Noncapital Expenditures Percentage Of Noncapital Expenditures For Governmental FundsFor Governmental Funds• Debt Debt Service = Principal + Interest Service = Principal + Interest • Should Not Include Issuance CostsShould Not Include Issuance Costs

• Noncapital = Total Expenditures -Noncapital = Total Expenditures -Expenditures That Are Capitalized For Expenditures That Are Capitalized For Government-wide Financial StatementsGovernment-wide Financial Statements– Calculated For Conversion From Modified Accrual To Accrual Calculated For Conversion From Modified Accrual To Accrual

BasisBasis

GCGGCG 515111

Statistical SectionStatistical Section Incomplete Information Presented For:Incomplete Information Presented For:– Largest Own-source Revenue (E.G., Property Largest Own-source Revenue (E.G., Property

Tax Or Sales Tax)Tax Or Sales Tax)– Information For Second Own-source Revenue Information For Second Own-source Revenue

That Is Electively PresentedThat Is Electively Presented• No Need For Property Tax Collections No Need For Property Tax Collections

Unless It Is Largest Own-source Revenue Or Unless It Is Largest Own-source Revenue Or Information Is Electively PresentedInformation Is Electively Presented

All Applicable Tables Must Be Included For Each All Applicable Tables Must Be Included For Each Revenue Source That Is PresentedRevenue Source That Is Presented

GCGGCG 525211


• When Applicable, Both Per Capita When Applicable, Both Per Capita Debt Ratios Are Not PresentedDebt Ratios Are Not Presented

• Total Outstanding Debt Total Outstanding Debt • All Types Of DebtAll Types Of Debt• Both Governmental And Business-type Both Governmental And Business-type

ActivitiesActivities

• Total General Bonded DebtTotal General Bonded Debt

GCGGCG 535311


Overlapping debOverlapping debt t

– Should not include business-type Should not include business-type activities. activities.

– A subtotal should be presented for the A subtotal should be presented for the portion of the debt that is overlapping portion of the debt that is overlapping

– Include a footnote explaining what Include a footnote explaining what “overlapping” means “overlapping” means

GCGGCG 545411


Narratives Missing:Narratives Missing:

– Description Of The Five ObjectivesDescription Of The Five Objectives– Explanation Of Why 10 Years Of Data Was Explanation Of Why 10 Years Of Data Was

Not IncludedNot Included– Atypical Trends And Anomalous DataAtypical Trends And Anomalous Data• GASB Statement No. 44 Identifies Four GASB Statement No. 44 Identifies Four

Types Of Narrative Explanations That Types Of Narrative Explanations That Should Be IncludedShould Be Included

GCGGCG 555511

Articulation of Data Articulation of Data

MD&A to basic financial statements MD&A to basic financial statements Operating statements to balance sheet Operating statements to balance sheet Fund financial statement reconciliations to Fund financial statement reconciliations to

government-wide financial statement government-wide financial statement

Statistical section to basic financial Statistical section to basic financial statements statements

We Are Finally FinishedWe Are Finally Finished

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Common Reporting Deficfencies. Improving Financial Reporting – Transmittal Letter Hit all the required elements Profile of the Government Profile of