Government-wide Financial Statements

Government-wide Financial Statements provide an overall picture of a government's financial health. They include two main statements: the Statement of Net Position, which details what the government owns and owes, and the Statement of Activities, which shows how much money was generated and spent during a specific period. These statements help taxpayers understand how their money is being managed, highlighting the government's financial condition and the results of its operations. They promote transparency and accountability, making it easier for citizens to assess the fiscal practices of their government.