Comprehensive Annual Financial Report Questions

Review the Comprehensive Annual Financial Report (CAFR) that you obtained and answer the following questions: Part 1
1. How many capital projects funds does the government maintain? How can you tell? Are any of these major funds? If so, for what purposes are they maintained?
2. How many debt service funds does the government maintain? How can you tell? Are any of these major funds? If so, for what types of obligations are they maintained?
3. How are the capital projects and debt service funds reported in the government-wide statement of net position?
4. Select one of the more recently established (and larger) capital projects funds (a major fund, if there is one).
5. From where did the fund receive most of its resources?

Review the Comprehensive Annual Financial Report (CAFR) that you obtained and answer the following questions: Part 2
1. Per the city’s schedule of long-term obligations, what is the total long-term obligation for both governmental and business-type activities? Does this amount reconcile with the long-term liabilities as reported on the government wide statement of net position?
2. In addition to bonds payable, what other kinds of long-term debt for governmental activities did the city report in its statement of net position?
3. Did the city increase or decrease its long-term borrowings during the year? What was the effect on total long-term liabilities at year end? Explain.
4. What is the percentage of total net bonded debt to assessed value of property? What is the amount of net debt per capita?
5. What is the city’s legal debt margin?
6. Does the city have any lease obligations outstanding? Are these accounted for as operating or financing leases? Can you determine if any of these leases were initiated during this year? What is the amount of payments related to financing leases?
7. Compute the total amount of the city’s direct and overlapping debt.
8. Does the city have outstanding any conduit debt?

***Note to writer: The CAFR needed to answer these questions is attached.

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