n IMFO : Official Journal of the Institute of Municipal Finance Officers - Should municipalities be reporting on long term financial sustainability?
|Article Title||Should municipalities be reporting on long term financial sustainability?|
|© Publisher:||Institute of Municipal Finance Officers (IMFO)|
|Journal||IMFO : Official Journal of the Institute of Municipal Finance Officers|
|Author||Danie De Lange|
|Publication Date||Spring 2010|
|Pages||22 - 24|
Financial statements prepared in accordance with International Public Sector Accounting Standards (and Standards of GRAP) focus on reporting historical information about transactions and events that occurred within a reporting period. Little or no information is provided about the future sustainability or affordability of current local government operations and programmes within the annual financial statements.
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