After 16 years of fiscal turmoil, the district of Freising in Germany has achieved a historic milestone by finalizing its first annual financial statement since 2010. This was made possible when the district council approved the opening balance 3.0, allowing the region to finally tackle its substantial backlog of financial issues. District Administrator Helmut Petz described this event as a 'historic occurrence', signifying a pivotal moment in the district's financial history.

The financial mismanagement in Freising began in 2010 when the district transitioned from cash-based accounting (Kameralistik) to a double-entry bookkeeping system (Doppik). The first financial statement prepared in 2013 was deemed 'essentially unusable' by the Bavarian Municipal Audit Association (BKPV), leading to a second failed attempt in 2021, where discrepancies amounting to millions of euros were found between the two reports. One significant inconsistency was a whopping €27.3 million in the equity section, illustrating the severity of the budgeting crisis.

In May 2025, the district sought external assistance from the auditing firm Grant Thornton while involving the BKPV from the start, a strategy that ultimately paid off. The experts successfully established an accurate balance, which not only marks a significant achievement for the district but also sets a new precedent for municipal finance management in Germany, potentially influencing other regions facing similar challenges.