Government Unit 5 IP.docx - Natasha Moser Instructor Tracie Edmond Government Not for Profit Accounting Unit 5 Individual Project May 8 2019 We are

Government Unit 5 IP.docx - Natasha Moser Instructor Tracie...

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Natasha MoserInstructor Tracie EdmondGovernment & Not for Profit AccountingUnit 5 Individual ProjectMay 8, 2019
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We are going to review a Comprehensive Annual Financial Report (CAFR) in this paper. We are going to look at the city of Cedar Falls, Iowa and answer a few questions about their 2013 CAFR. We will discuss the management discussion and analysis, financial statements, statistical section and how the city is doing, information on the infrastructure, and lastly I will provide a couple journal entries. There are three main sections to a Comprehensive Annual Financial Report (CAFR), the three main sections are introductory, financial section, and the statistical section [Edm194]. The introductory section includes a title page, table of contents, letter of transmittal, and miscellaneous items (these would be organizational charts or names of the chief government officers) [Edm194]. Cedar Falls gives usall of these things in order, you can see this on their table of contents [Com]. The title page includes the title (Comprehensive Annual Report), the location, and the year we are looking at [Com]. the table of contents tells us what we can find in the paper and what page it is located on. The letter of transmittal is just an overview of what is in the paper.One of the more interesting sections in the management discussion analysis was the governmental revenues section. This shows where the government is receiving funds from. I wasn’t surprised that most of the funds come from property taxes at 47.5% being almost half of their revenue, but I liked this section because I didn’t realize how many different avenues there were for funding [Com].For instance, I hadn’t really thought about fines or forfeitures, I know the city fines you for a lot of different things, but I had never really thought about that being a revenue source [Com]. They saw a significant degrease in revenues from the intergovernmental portion with a $6,320,976 decrease [Com].
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