OUTPUTS

The Standardised Financial Reports and Financial Health KPIs for City Governments in Europe below present main tangible output and the joint effort of the European CEFG Group partner cities to achieve comparable financial and accounting data against the background of highly fragmented public sector accounting practices within the European Union and even within the countries.

The template is in line with frameworks such as the European System of Accounts (ESA), the International Public Sector Accounting Standards (IPSAS), the International Monetary Fund (IMF) and World Bank approaches, and thus based on accrual accounting. It comprises a set of agreed financial indicators, including items such as the statement of operating performance, capital operations, financial flows, cash statements and debt for the common financial city reports as well as data in relation to 10 financial health KPIs.