Preparation of annual financial statements

With the changeover from cameralistics to municipal double-entry accounting, the balance sheet was introduced into the municipal budget and accounting system alongside the income statement and the financial statement. For the first time, the balance sheet compares the entire assets of the city of Idar-Oberstein and their financing through equity and borrowed capital at a glance.

In accordance with the provisions of the municipal code and the Rhineland-Palatinate municipal budget ordinance, annual financial statements must be prepared for each financial year and adopted by the municipal council.