Last_Exam

Answer The Following Problems:

Problem (1)

The data that follows were taken from the CAFR of Chaseville, a mid-sized midwestern city with a population of 82,000. all dollar mounts are in thousands.

Indicate and calculate the ratios that would be used to compare Chaseville with similar cities as to whether :

1. It is more dependent upon revenues from other governments.

2. it is directing a great share of its expenditures toward public safety.

3. It has the necessary liquid resources to be better able to meet its short-term obligations as they come due.

4. it has a greater available general-fund balance relative to revenues to meet future needs.

5. Its citizens pay a higher tax rate.

6. Its citizen pay more in taxes per person.

7. It is a wealthier city, in that its citizen own relatively more property.

8. It exerts greater fiscal efforts.

Problem (2)

The statements, schedule, tables, and other types of data that follow are found in the annual report of a typical municipality. For each of these items indicate whether it would be found in the:

- Introductory section.

- Financial Section.

- Statistical Section.

If the item would be found in the financial section, then specify whether it would be included in:

- The management's discussion and analysis (MD&A)

- The basic financial statements.

- Required supplementary information other than the MD&A

- Combining statements and schedules

1. A balance sheet of non-major special revenue funds.

2. A certificate of achievement for excellence in financial reporting.

3. Data on general revenues, by source, for the past tenyears.

4. The letter of transmittal.

5. The MD&A.

6. A government-wide statement of activities.

7. The total unfunded actuarial liability of its pension plan for the past three years.

8. Data on property tax collections for the past ten years.

9. A statement of revenues, expenses, and changes in net assets for the city's utility fund (one of two major fund proprietary funds).

10. A statement comparing budgeted and actual revenues and expenditures for a special revenue fund.

11. A statement of cash flows for a non-major enterprise fund.

Good Luck