Chap013 - Chapter 13 - Auditing, Tax Exempt Organizations,...

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Chapter 13 - Auditing, Tax Exempt Organizations, and Evaluating Performance C HAPTER 13 Auditing, Tax Exempt Organizations, and Evaluating Performance 13-1. T HE SOLUTION TO THIS AND THE FIRST EXERCISE OF C HAPTERS 1 THROUGH 8 WILL VARY FROM STUDENT TO STUDENT , ASSUMING EACH HAS A DIFFERENT CAFR. 13-2. T HE SOLUTION TO THIS EXERCISE WILL VARY FROM STUDENT TO STUDENT , ASSUMING EACH HAS A DIFFERENT N OT - FOR - PROFIT . 13.3. T HE SOLUTION TO THIS AND THE FIRST EXERCISE OF C HAPTERS 1 THROUGH 8 WILL VARY FROM STUDENT TO STUDENT , ASSUMING EACH HAS A DIFFERENT CAFR. 13.4. T HE SOLUTION TO THIS QUESTION WILL VARY BY STUDENT DEPENDING ON THE SPECIFIC REPORT CARD ACCESSED . 13-1
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Chapter 13 - Auditing, Tax Exempt Organizations, and Evaluating Performance 13-5 P ART A. 13-2 Calculations City of Salem N ET DEBT PER CAPITA (2,161,521 + 39,834,882 – 230,000) 24,000 $1,740 N ET DEBT TO FAIR VALUE OF PROPERTY (2,161,521 + 39,834,882 – 230,000) 500,000,000 8.35% N ET DEBT TO ASSETS - GOVERNMENTAL ACTIVITIES - BUSINESS - TYPE ACTIVITIES - PRIMARY GOVERNMENT (2,161,521 + 39,834,882 – 230,000) 87,175,726 (1,342,717 + 18,858,187) 69,042,608 (3,507,238 + 58,693,069,-,230,000) 156,218,334 48% 29% 40% D EBT SERVICE TO TOTAL EXPENDITURES (1,155,326 + 924,818) 50,969,428 4.08% N ET ASSETS / EXPENSES - GOVERNMENTAL ACTIVITIES - BUSINESS - TYPE ACTIVITIES - PRIMARY GOVERNMENT 38,410,768 40,690,111 47,874,687 9,080,489 86,285,455 49,770,600 0.94 5.27 1.74 U NRESTRICTED NET ASSETS / EXPENSES - GOVERNMENTAL ACTIVITIES - BUSINESS - TYPE ACTIVITIES - PRIMARY GOVERNMENT 10,786,672 40,690,111 19,181,189 9,080,489 29,967,861 49,770,600 .265 2.11 .602 U NRESERVED FUND BALANCE / REVENUES 10,692,795 37,086,034 28.8% G OVERNMENTAL REVENUES PER CAPITA 41,275,019 24,000 $1,720 I NTEREST COVERAGE REVENUE BONDS 720,231 807,943 0.89 Times O PERATING RATIO ENTERPRISE FUNDS 8,272,527 – 1,880,722 8,992,758 71%
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Chapter 13 - Auditing, Tax Exempt Organizations, and Evaluating Performance 13-5 P ART B 13-3 N ET DEBT PER CAPITA V ILLAGE OF E LIZABETH L OWER VALUES INDICATE A LOWER DEBT BURDEN PER CAPITA . N ET DEBT TO FAIR VALUE OF PROPERTY V ILLAGE OF E LIZABETH H IGHER VALUES INDICATE LESS ABILITY TO GENERATE FUTURE TAXES ON PROPERTY N ET DEBT TO ASSETS - GOVERNMENTAL ACTIVITIES - BUSINESS - TYPE ACTIVITIES - PRIMARY GOVERNMENT V ILLAGE OF E LIZABETH C ITY OF S ALEM V ILLAGE OF E LIZABETH H IGHER VALUES INDICATE GREATER SOLVENCY . D EBT SERVICE TO TOTAL EXPENDITURES C ITY OF S ALEM L OWER VALUES INDICATE FEWER EXPENDITURES AR TIED UP IN DEBT SERVICE . N ET ASSETS / EXPENSES - GOVERNMENTAL ACTIVITIES - BUSINESS - TYPE ACTIVITIES - PRIMARY GOVERNMENT V ILLAGE OF E LIZABETH C ITY OF S ALEM V ILLAGE OF E LIZABETH H IGHER VALUES INDICATE STRONGER FINANCIAL POSITION . U NRESTRICTED NET ASSETS / EXPENSES - GOVERNMENTAL ACTIVITIES - BUSINESS - TYPE ACTIVITIES - PRIMARY GOVERNMENT C ITY OF S ALEM C ITY OF S ALEM C ITY OF S ALEM H IGHER VALUES INDICATE STRONGER FINANCIAL POSITION ( CAN USE EXISTING RESOURCES TO FUND ACTIVITIES IF UNFORSEEN EVENTS OCCUR ). U NRESERVED FUND BALANCE / REVENUES C ITY OF S ALEM H IGHER VALUES INDICATE GREADER LIQUIDITY . G OVERNMENTAL REVENUES PER CAPITA C ITY OF S ALEM T HIS MEASURES THE DEMAND FOR GOVERNMENT SERVICES . I IS CORRELATED WITH THE WEALTH OF THE CITIZENRY .
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This note was uploaded on 02/24/2010 for the course ACG gov? taught by Professor Bline+pascarella during the Spring '10 term at Bryant.

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Chap013 - Chapter 13 - Auditing, Tax Exempt Organizations,...

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