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Audited Financial Statements & Adopted Budgets

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Financial Statements

The Authority’s basic financial statements consist of three components:

  • Government-wide financial statements
  • Fund financial statements
  • The notes to the financial statements

The annual Financial and Compliance Reports also include supplementary information intended to furnish additional detail to support the basic financial statements themselves.

The annual Financial Statements include all of the activities which are part of the Authority reporting entity using the integrated approach as prescribed by the Governmental Accounting Standards Board (GASB). The government-wide financial statements present the financial picture of the Authority’s governmental activities from the economic resources measurement focus using the accrual basis of accounting. The governmental funds are prepared using the current financial resources measurement focus and modified accrual basis of accounting. A reconciliation of the fund financial statements to the government-wide financial statements is provided to explain the differences created by the integrated approach.

The Authority operates on a July 1 to June 30 fiscal year. Audited Financial and Compliance Reports are presented below for each year of audited financial activity commencing with the receipt of HB 2313 revenues.

Budget Statements

Budget statements are presented for the Regional Revenue Fund Budget, 30% Distribution Fund Budget and the Operating Budget. Any budget amendments are presented below the appropriate budget by fiscal year.