These financial statements are unaudited and prepared for internal use only. Please use them in conjunction with ML&P's annual audited financial statements. Financial information presented in these statements is for management analysis and may differ from the audited financial statements in some instances.
Other GAAP Disclosures
The Municipality of Anchorage has entered into an agreement to sell certain assets and discharge certain liabilities of Municipal Light & Power (the Utility) to Chugach Electric Association (CEA). CEA is a non-governmental entity and, as such, follows the Financial Accounting Standards Board (FASB) accounting framework to prepare its financial statements. The Utility's financial statements are prepared according to the GASB framework, and therefore the accounting for certain items could differ from the accounting treatment by CEA. The table beginning below presents relevant authoritative accounting pronouncements under the respective GASB and FASB frameworks to provide clarification to the users of the Utility’s audited financial statements.
