Annual Audits

A Local Government, in addition to providing the Local Government Division an Annual Financial Report, may also be required to provide a copy of the Annual Audit for the local government based off factors such as population, revenue and bonded debt. The Annual Audit shall be made in accordance with generally accepted auditing standards. Reporting on the financial position and results of financial operations for each fund of the municipality shall be in accordance with generally accepted accounting principles, insofar as possible.