HB 1673 mandates that municipalities prepare and publish annual financial statements detailing the total receipts and disbursements for each fund under their authority during the fiscal year. The financial statement must include itemized sources of revenue, categories of expenditures, and the closing balance for each fund. Municipalities are required to submit these statements to the state comptroller within two months of the fiscal year’s end. The comptroller is tasked with posting these statements online in an easily accessible format. The bill aims to enhance transparency and public access to municipal financial information.