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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
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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.
- Spring '10