CAFR-Ready from the First Journal Entry
Full GASB 34/44/68/75/87/96/103 coverage built into the municipal ERP — not a bolt-on reporting package. Your Comprehensive Annual Financial Report assembles itself from live general ledger data, your year-end close runs on a four-step wizard, and your external auditor logs into a dedicated portal.
Why GASB compliance is harder than it should be
Most municipal finance teams produce their CAFR the same way they have since the statement was named one: export trial balances into Excel, reconcile by hand, paste into a Word template, and hope nothing moved between the GL and the draft. The government accounting standards keep getting more demanding — GASB 87 moved leases onto the balance sheet in 2022, GASB 96 did the same for SBITAs in 2023, and GASB 103 updates the MD&A for fiscal years starting after June 15, 2025 — but the tooling has not kept up.
Legacy municipal ERPs treat GASB compliance as a reporting afterthought. MuniNow treats it as the shape of the data. Eleven GASB-defined fund types are baked into the schema. Period balances pre-aggregate debits and credits per account per fiscal year so trial balances and budget-to-actuals run in milliseconds. Every journal entry posts through a double-entry validator and updates period balances atomically. When fiscal year-end arrives, you don't assemble a CAFR — you generate one.
Every standard, covered
The GASB pronouncements governing municipal financial reporting, and how they show up in the platform.
Government-wide + fund financial statements
Statement of Net Position, Statement of Activities, and the full fund-level reporting model. MuniNow generates both sets automatically from the same underlying general ledger — no spreadsheet bridge between modified accrual fund statements and full accrual government-wide statements.
Statistical section — 10-year trend data
Financial trends, revenue capacity, debt capacity, demographic and economic indicators, operating information. MuniNow captures immutable year-end snapshots per fiscal year and tracks non-financial statistics across 11 GASB 44 categories with a 10-year rolling window.
Pension & OPEB RSI schedules
Ten-year Required Supplementary Information schedules for defined-benefit pension plans (GASB 68) and other post-employment benefits (GASB 75). Net pension liability, deferred inflows/outflows, contributions, and actuarial assumptions — all maintained year-over-year without re-keying.
Lease capitalization
Right-of-use asset and lease liability recognition with present-value calculations and full amortization schedules. Covers equipment leases, building leases, and lease-purchase arrangements across governmental and proprietary funds.
SBITA capitalization
Subscription-based IT arrangements recognized as subscription assets and subscription liabilities, with payment schedules that mirror the GASB 87 treatment. SaaS contracts finally show up on the statements the way the standard requires.
Management's Discussion & Analysis
MD&A template generation with the updated disclosures required by GASB 103 (effective FY 2026). Surfaces variance analysis, fund balance commentary, and the long-term obligations narrative without forcing staff to author from scratch.
What compliance looks like in practice
Six capabilities that separate the CAFR from a spreadsheet exercise.
Full CAFR package — 16 sections
Introductory, financial, and statistical sections generated from your live general ledger: fund-level balance sheets and statements of revenues/expenditures, budget-to-actual (general fund + major special revenue), government-wide Statement of Net Position and Statement of Activities, reconciliation schedules, 12 notes templates, and the 10-year statistical section.
Modified-to-full accrual conversion
The conversion engine handles all six GASB 34 adjustment types — capital assets, long-term debt, deferred inflows/outflows, pension/OPEB, internal activities, and eliminations — and preserves every version so auditors can see how the government-wide numbers tie back to the fund statements.
Four-step year-end close wizard
Pre-close health check (draft journal entries, fund balance validation, encumbrance review) → encumbrance carry-forward → revenue close → expense close → income summary to fund balance, with automatic opening-balance entries for the next fiscal year. SELECT FOR UPDATE locks the fiscal year during close. Every step is previewable and abortable. Reopen requires dual-control authorization.
Dedicated auditor portal
External auditors log into their own engagement-scoped view — no shared credentials, no emailed spreadsheets. Prepared-by-client (PBC) checklists with per-item completion tracking, audit adjustment workflow (request → review → post), and audit package generation covering the core four statements plus supporting schedules.
Peer municipality benchmarking
Compare your fund balance ratios, debt per capita, revenue concentration, and operating indicators against an anonymous cohort of similar municipalities. Year-over-year trends and anomaly detection (z-score > 2) flag the ratios most likely to catch an auditor's attention before they do.
State-specific reporting
State-formatted reports on top of the CAFR data — the Texas Annual Financial Report template ships seeded, with an extensible template engine for additional states. Municipalities producing both state reports and a CAFR stop maintaining two parallel reconciliations.
Year-end close, step by step
The four-step wizard that replaces the six-week close scramble.
- 0
Pre-close
Health check
Draft journal entry detection. Unbalanced fund validation. Outstanding encumbrance review. Fails fast on any condition that would corrupt the close.
- 1
Step 1
Encumbrance carry-forward
Open purchase-order encumbrances roll forward into the next fiscal year. Closed ones release against their originating budget lines.
- 2
Step 2
Revenue close
Temporary revenue accounts zero out to the income summary account per fund. Preview the journal entries before they post.
- 3
Step 3
Expense close
Expenditure and expense accounts close the same way. Encumbered balances are already carried forward from Step 1.
- 4
Step 4
Income summary → fund balance
Income summary clears to fund balance per fund. Opening-balance journal entries for permanent accounts (asset, liability, equity) post automatically into the next fiscal year.
SELECT FOR UPDATE for the duration of the close. Abort rolls back to the previous step. Reopening a closed fiscal year requires a second authorizer — the original closer cannot unilaterally reopen their own work.Dig deeper
General Ledger
11 GASB fund types, encumbrance lifecycle, inter-fund transfers, year-end close wizard.
Reporting & Analytics
CAFR generator, auditor portal, state reports, historical trends, peer benchmarks.
Budgeting
Budget cycles, department requests, revenue forecasting, council adoption — pushing straight to GL.
Transparency Audit
Independent AI review of CAFRs, budgets, and governance risk — complementing ongoing compliance.
Walk your auditor through a real close
A 45-minute demo runs you through year-end close on demo data, the CAFR package it produces, and the auditor portal your engagement firm logs into.