Financial Statement (Long Form): This document is used to identify the income and expenses and the assets and debts of the parties. This form is for use by parties with an annual income equal to or greater than $75,000. Please note that you MUST print this Financial Statement on bonded purple paper and the second page must be printed on the back of the first page. This form is available in PDF format.
The Lowell Massachusetts Financial Statement — Long Form is a comprehensive document that provides detailed information about the financial status and activities of Lowell, Massachusetts. It serves as a vital tool for assessing the city's fiscal health, planning future budgets, and monitoring financial performance. The statement includes a range of crucial financial data, enabling readers to gain a comprehensive understanding of Lowell's fiscal affairs. Some key components typically found within the Lowell Massachusetts Financial Statement — Long Form are: 1. Revenues and Expenses: This section outlines the various revenue streams generated by the city, such as taxes, grants, fees, and investments. It also details the expenses incurred by Lowell, including personnel costs, operational expenses, debt service payments, and capital investments. 2. Balance Sheet: The statement presents a snapshot of Lowell's financial position at a specific point in time. It includes information about assets (such as cash, property, and equipment), liabilities (debts and obligations), and the value of the city's equity or net assets. 3. Fund Statements: Lowell typically maintains different funds, each serving a specific purpose. The financial statement provides separate statements for each fund, such as the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Projects Funds. These statements highlight revenues, expenditures, and fund balances for each fund. 4. Notes to Financial Statements: This section provides additional context and explanations for various financial figures, ensuring transparency and clarity. It may include details about significant accounting policies, non-standard transactions, contingent liabilities, and other relevant information. 5. Management's Discussion and Analysis: Often included at the beginning of the statement, this section offers an overview and analysis of Lowell's financial performance. It provides insights into significant changes, trends, challenges, and future plans, aiding in making informed financial decisions. It's important to note that while the overall structure and components of the Lowell Massachusetts Financial Statement — Long Form remain consistent, specific variations may occur based on the reporting requirements and accounting practices of the city. Furthermore, it is advisable to refer to the specific document provided by the City of Lowell or its financial departments for the most accurate and up-to-date information.The Lowell Massachusetts Financial Statement — Long Form is a comprehensive document that provides detailed information about the financial status and activities of Lowell, Massachusetts. It serves as a vital tool for assessing the city's fiscal health, planning future budgets, and monitoring financial performance. The statement includes a range of crucial financial data, enabling readers to gain a comprehensive understanding of Lowell's fiscal affairs. Some key components typically found within the Lowell Massachusetts Financial Statement — Long Form are: 1. Revenues and Expenses: This section outlines the various revenue streams generated by the city, such as taxes, grants, fees, and investments. It also details the expenses incurred by Lowell, including personnel costs, operational expenses, debt service payments, and capital investments. 2. Balance Sheet: The statement presents a snapshot of Lowell's financial position at a specific point in time. It includes information about assets (such as cash, property, and equipment), liabilities (debts and obligations), and the value of the city's equity or net assets. 3. Fund Statements: Lowell typically maintains different funds, each serving a specific purpose. The financial statement provides separate statements for each fund, such as the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Projects Funds. These statements highlight revenues, expenditures, and fund balances for each fund. 4. Notes to Financial Statements: This section provides additional context and explanations for various financial figures, ensuring transparency and clarity. It may include details about significant accounting policies, non-standard transactions, contingent liabilities, and other relevant information. 5. Management's Discussion and Analysis: Often included at the beginning of the statement, this section offers an overview and analysis of Lowell's financial performance. It provides insights into significant changes, trends, challenges, and future plans, aiding in making informed financial decisions. It's important to note that while the overall structure and components of the Lowell Massachusetts Financial Statement — Long Form remain consistent, specific variations may occur based on the reporting requirements and accounting practices of the city. Furthermore, it is advisable to refer to the specific document provided by the City of Lowell or its financial departments for the most accurate and up-to-date information.
