Additionally the unemployment rate has declined over

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Unformatted text preview: ncreased. Additionally, the unemployment rate has declined over the past three years. Finally, it appears that Denver has increased the sources of sales tax revenue (i.e., added to the list of items subject to sales tax); thus, broadening the sales tax base. With the impact of the overall economy and the recent sales tax trend, sales tax revenues could be flat over the next two to three years, indicating Denver may have some difficulty reaching its sales tax growth projections. However, if unemployment remains low and income can increase at a rate greater than inflation, projections may be attainable. a. Hillsborough County does produce a popular report in a downloadable .pdf form. Cities and counties may be more likely to have experimented with popular reports than smaller townships and villages. b. Students’ responses will reflect the reports they were able to obtain, so answers will vary. The criteria for usefulness developed by GASB in Concept Statement No. 1 or the FASB Conceptual Framework will be helpful in addressing this q...
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This note was uploaded on 05/20/2010 for the course ACCOUNTING 580 taught by Professor Waymire during the Spring '10 term at Northern Virginia.

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