Running Header: EXAMINE THE CAFR: TULSA 1 1.11 Examine the CAFR: City of Tulsa Brittany Bourbonnais Indiana Wesleyan University August 18, 2019
EXAMINE THE CAFR: TULSA 2 1.11 Examine the CAFR: City of Tulsa Reck, Lowensohn, and Neely (2019), discusses how “serious users of government financial information need more detail than is found in the MD&A, basic financial statements, and RSI (other than MD&A). For state and local governments, much of that detail is found in the government’s comprehensive annual financial report (CAFR)” (p 8). It is not required that governments and agencies prepare a CAFR but it is a typical practice. CAFR’s include three sections, an introductory section, a financial section, and a statistical section. Among those three sections are different items that should be included, most importantly are the basic financial statements, MD&A, Required Supplementary information, and Notes for the financial statements. Over the course of the next couple weeks we will examine the 2018 Comprehensive Annual Financial Report for the City of Tulsa. According to Reck, Lowensohn, and Neely (2019), the introductory section of a CAFR should include items like “a title page and contents page, a letter of transmittal, a description of the government, and other items deemed appropriate by management.” City of Tulsa’s 2018 CAFR’s includes title pages for the report and for each section of the CAFR. The introductory section includes a Letter of Transmittal, List of Principal Officials, Organizational Chart, and a Certificate of Achievement. The financial section incudes an auditor’s report, basic financial
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