PAYMENT FOR BOTH PARTS PLEASE!!!
Evaluating and Assigning to Appropriate Funds
Parts A and B will be submitted together in a 3-4 page document.
Part A:
Below is a list of items that could appear in an ACFR report.
- Legal debt limits and debt margins
- 10-year trend data
- Notes to financial reports
- Property tax levy and collection information
- Budgetary schedules
- Auditor’s report
- Letter of transmittal
- Description of the government’s financial condition
- Financial highlights for the fiscal year
- Defined benefit pension plan schedules
Part A Requirements:
The GASB requires that information be reported in certain sections of the ACFR. For each of the items listed above, indicate whether the item would be reported in the following sections and the reason for doing so:
I – Introductory sectionF – Financial sectionS – Statistical sectionMDA – MDA portion of the Financial sectionRSI – RSI portion of the Financial section
Part B:
- If a government has governmental, proprietary, and fiduciary funds, identify and briefly explain all the financial statements that must be prepared for the Annual Comprehensive Financial Report.
- When conducting a financial analysis, ratios based solely on governmental fund financial statements would not be considered sufficient for assessing economic condition. Explain why this statement would be true or false.
Assignment Deliverable:
- Submit your responses to Parts A and B in a 3 to 4-page Microsoft Word document, not counting the title and reference pages, which you must include.
Assignment Requirements:
- Use terms, evidence, and concepts from class readings, including professional business language.
- Cite at least 3 sources for this assignment
