At the end of the financial year, the annual financial statements are prepared. These summarize whether the budget targets have been met and in which areas there have been deviations. The annual financial statements present the actual net assets, results of operations and financial position. The annual financial statements are therefore the formal and substantive counterpart to the budget.
The budget is binding on the manner and extent of the City's performance of its duties. The financial statements show the extent to which the budget has been complied with, which non-budgetary transactions have been carried out and the result of the budgetary management during the financial year. The effects on assets and the development of debts are also shown, as are the opportunities and risks that arise overall for future development. The annual financial statements serve as an important decision-making basis for the internal management of the municipal budget.
The annual financial statements consist of the income statement, the financial statement and the balance sheet. Furthermore, the statement of accounts deals with the economic situation of the municipality from the point of view of the steady fulfillment of tasks. The most important results and significant deviations of the annual results from the budget estimates are explained and information on the status of the municipal task fulfillment is given. But also expected positive developments and possible risks of particular importance as well as the goals and strategies are presented.
Department of Finance
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