Every city must submit a statement of their financial activities for the previous fiscal year to the Department for Local Government (DLG) by way of a uniform financial information report (UFIR). UFIRs must be submitted by May 1 of each year following the close of the previous fiscal year. Failure to submit a completed UFIR jeopardizes municipal road aid and state grant funding.
UFIRs can be prepared by a CPA or by a municipal officer or employee. Each report provides information on a city's revenue sources and amounts, expenditure types and amounts, pension costs, debts, and cash and investment balances. While UFIRs do not offer any information on what a city has budgeted, they provide a snapshot for how cities are spending and raising their money on the whole.
The KLC legislative team uses this data to respond to legislative inquiries, develop local mandate notes, and advocate on behalf of the member cities. It is vital to have accurate, useful data to ensure city interests are well represented in Frankfort.