Each Notes of ten largest cities were viewed separately that are compiled according to the Regulations on Financial Reporting and after a detailed analysis of practices among budget users of the public budget in compiling and reporting financial statements, it was concluded that these budget users are actively following the instructions of the Ordinance on Financial Reporting. In 2015, there have been changes to the Ordinance on Financial Reporting in Budget Accounting and financial statements were increased to 5 reports, and among them are contained Notes to the financial statements that should help external users in understanding the financial statements. The new Ordinance is somewhat synchronized with the International Accounting Standards for the public sector (IPSAS), which aims to harmonize the different Accounting Standards in different countries. One of the most important standards is certainly IPSAS 3, which explains the accounting policies. According to the Regulations accounting policies should be published with the Notes to the financial statements, but during the research there was no public announcement and there was a complete lack of transparency. Therefore, there is no conclusion what is their compliance with IPSAS 3. With regard to composing up the Notes there is a fully lack of completeness and transparency. One of the ten larges cities in Croatia, the largest one, has no published Notes, and on the other side two out of ten do not have Notes published in 2015 although according to the Regulations it is required to do so no later than 15 or 25 February. Also, at the end of the investigation it has become clear that the ten largest cities of Croatia are following the guidelines of the Ordinance, and thus are somewhat consistent with IPSAS's.