Annual Financial Statements must be filed with which entity?

The requirement for annual financial statements to be filed with EMMA (the Electronic Municipal Market Access) is tied to the necessity for providing transparency to investors and the public regarding the financial condition of municipal entities. EMMA serves as a centralized electronic repository that allows investors and other interested parties to access official statements, continuing disclosure documents, and other financial information pertaining to municipal securities. This facilitates informed investment decisions and supports market efficiency.

Filing with EMMA enables municipalities to comply with federal regulations set by the Securities and Exchange Commission (SEC) regarding the disclosure of financial information related to municipal securities, enhancing accountability and transparency in public finance. This is crucial for maintaining investor confidence and ensuring that the financial statements are readily accessible to the public.

Understanding the significance of EMMA in the public finance landscape illuminates why this is the correct choice when considering where annual financial statements must be submitted.