ACFR - FY2021 FINAL 5-13-22 USE THIS ONE - Flipbook - Page 32
Overview of the Financial Statements
The discussion and analysis are intended to serve as an introduction to the City’s basic financial statements.
The City’s basic financial statements consist of three components:
1. Government-wide financial statements.
2. Fund financial statements.
3. Notes to the financial statements.
The primary financial statement presents two different views of the City through the presentation of
government-wide statements and fund financial statements. In addition to the basic financial statements, this
report contains other supplemental information that will enhance the reader’s understanding of the financial
condition of the City of Eustis.
Table 1: Organization and Flow of Financial Section Information
Organization and Flow of Financial Section Information
Report of Independent Certified Public Accountants
Provides the opinion of the Independent CPAs on the fair presentation of the basic financial statements.
Management's Discussion and Analysis
This supplementary information is required for state and local government financial statements,
and is intended to provide a narrative introduction, overview, and analysis.
Government-wide
Fund
Financial Statements
Financial Statements
Provides information on
Provides information on the
governmental and business-
financial position of specific
type activities of the
funds of the primary
primary government.
government.
Notes to Financial Statements
Provides a summary of significant accounting policies and related disclosures.
Government-wide financial statements - The government-wide financial statements are designed to provide
readers with a broad overview of the City’s finances like a private sector business. The government-wide
statements provide short and long-term information about the City’s financial status.
The Statement of Net Position presents information on all the City’s assets, liabilities, and deferred outflows
and inflows with the difference between the two reported as net position. Over time, an increase or decrease
in net position may indicate whether the City's financial position is improving or deteriorating.
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