A9.1 Twatt - Chapter10 TiffanyWatt Assignment:A9.1...

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Chapter 10 Tiffany Watt Assignment: A9.1 April 6, 2011 AC 325 – E01   Examine the CAFR. 10-1a. 1. How stable and flexible are the city’s revenue sources in the advent of adverse economic conditions? In my opinion, depending on how severe, the city may be able to withstand certain adverse economic conditions. 2. Is the revenue base well diversified, or does the city rely heavily on one or two major sources? Based on the table of revenue sources for the governmental funds provided on page 11, the city’s major source for revenue is taxes. In the year 2006, tax revenue in the amount of $300,893 was reported. In 2005, $277,411 was reported, making taxes the major source of revenue for both years. However, even though taxes was the major source of revenue, the city had many other sources as well. Intergovernmental revenues was the second major revenue source. Licenses and permits, charges for services and sales, fines and forfeits, special assessments, and interest were all were
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor - during the Spring '11 term at Mississippi Valley State University.

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A9.1 Twatt - Chapter10 TiffanyWatt Assignment:A9.1...

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