How many funds does the primary government use

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Reference no: EM133524204

Questions:

  1. Introduce and explain the composition of the reporting entity you have selected.
  2. Name the primary government and what, if any, component units are included in the CAFR.
  3. How many funds does the primary government use? Which funds are major?
  4. Using the information from the CAFR calculate the ratios that you believe will be useful in conducting the analysis.
  5. How stable and flexible are the city's revenue sources in the event of adverse economic conditions?
  6. Is the revenue base well diversified, or does the city rely heavily on one or two maior sources?
  7. Has the city been relying on intergovernmental revenues for an excessive portion of its operating expenditures?
  8. What percentage of total expenses of governmental activities is covered by program revenues? by general revenues?
  9. what extraordinary or special items reported in the statement of activities deserve attention?
  10. Discuss any other observations you have about revenues that you consider important.
  11. Are the levels of financial reserves (i.e., fund balances, contingency funds, and unrestricted net assets) adequate to meet unforeseen operational requirements or catastrophic events?
  12. Is insurance protection adequate to cover losses due to lawsuits or damage to property?
  13. Is an adequate amount of cash and securities on hand, or could the city borrow quickly to cover short-term obligations?
  14. what components of expenditures and, at the government-wide level, expenses exhibit sharp growth?
  15. Is adequate budgetary control being exercised over expenditures?
  16. How does the growth pattern of operating expenditures and expenses over the past 10 years compare with that of revenues?
  17. What has been the 10-year trend in general obligation long-term debt relative to trends in population and revenue capacity?
  18. Are significant debts of other governments (e.g., a school district, a county) supported by the same taxable property? What has been the trend for this
  19. "overlapping" debt?
  20. Are there significant levels of short-term operating debt? If so, has the amount of this debt grown over time?
  21. Are there significant debts (e.g., lease obligations, unfunded pension liabilities, 77 accrued employee benefits) or contingent liabilities?
  22. Are any risky investments such as derivatives disclosed in the notes to the financial statements? Are the types of investments adequately explained, and are their risks adequately disclosed?
  23. Socioeconomic factors: What have been the trends in demographic and economic indicators, such as real estate values, building permits, retail sales, population, income per capita, percent of population below the poverty level, average age, average educational level, employment and unemployment, and business licenses?
  24. Potential "red flags" or warning signs.
  25. Decline in revenues
  26. Decline in property tax collection rate
  27. Expenditures increasing more rapidly than revenues
  28. Declining balances of liquid resources and fund balances
  29. Reliance on nonrecurring (i.e., special item) revenues to support current-period operations
  30. Growing debt burden
  31. Growth of unfunded pension and other employee-related benefits such as compensated absences and postemployment health care benefits
  32. Deferral of needed maintenance on capital plant
  33. Decrease in the value of taxable properties, retail sales levels, or disposable personal income
  34. Decreasing revenue support from federal or state government
  35. Increasing unemployment
  36. Unusual climatic conditions or the occurrence of natural disasters
  37. Ineffective management and/or dysfunctional political circumstances

Reference no: EM133524204

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