Financial Reporting

The EAA conducts its financial business using the enterprise fund system. Enterprise funds are used to account for operations that are financed and operated in a manner similar to private businesses, primarily through user charges. The Comprehensive Annual Financial Report (CAFR) and budget are reported using the economic resources measurement focus and the full accrual basis of accounting. Under this method, revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows.