What is typically included in the government-wide financial statements of a county?

The government-wide financial statements of a county provide a comprehensive overview of its financial position and activities. This includes all assets and liabilities of the government, presenting a complete picture of the county's financial health.

By encompassing all assets and liabilities, these statements utilize the full accrual basis of accounting, unlike fund financial statements that focus on the current financial resources and typically represent only a portion of the county's fiscal activities. The inclusion of all assets and liabilities allows stakeholders, such as taxpayers and creditors, to assess the overall financial standing and long-term sustainability of the county's operations.

This holistic approach is essential as it informs users about the total resources controlled by the government and the obligations it bears, rather than limiting the focus to specific funds or revenue types, which is narrower in scope.