The City of Grand Rapids has released the latest Resident’s Guide to the City’s Finances and Annual Comprehensive Financial Report, providing a summary of the city's financial status for the fiscal year 2023. City Comptroller Max Frantz presented the guide during a recent Committee of the Whole meeting, offering residents an easy-to-understand version of the comprehensive financial report.
The Annual Comprehensive Financial Report (ACFR) consists of financial statements that comply with the accounting requirements of the U.S. Governmental Accounting Standards Board. The report includes an audit report, which revealed that the city achieved the best possible outcome for its financial statements in the fiscal year ended June 30, 2023. Independent auditor Plante & Moran PLLC issued an unmodified "clean" opinion on the city's financial statements.
The ACFR also includes an introduction, financial section, combining statements & schedules, and statistical information. The publication of the Resident's Guide to the City's Finances by the Office of the City Comptroller aims to make information on city finances more accessible to the public. The guide offers a simplified overview and enables residents of Grand Rapids to gain insight into the city's financial position.
City Comptroller Max Frantz emphasized the importance of the Resident's Guide, stating, "The guide takes what can typically be detailed and complex accounting topics and presents them in a concise and straightforward fashion that is easy to follow for most readers."
Residents can access the presentation of the Resident's Guide on YouTube and view an introduction promotional video for the report. The Resident's Guide to the City's Finances can be downloaded as a PDF in both English and Spanish versions.
The city's commitment to transparency and accessibility is evident in the publication of the Resident's Guide to the City's Finances. By providing a simplified and comprehensive overview of the city's financial status, Grand Rapids aims to keep its residents well-informed about the city's overall financial position.
Click this link to access more information: https://www.grandrapidsmi.gov/Our-City/News-Media/City-issues-Resident%E2%80%99s-Guide-to-the-City%E2%80%99s-Finances
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