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City Budgets for Capital Improvements

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Need help with the: Size of budget and its interrelationship with the CAFR

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We will be using Monica's CAFR (2009 Moreno Valley, CA) which can be found at http://www.moreno-valley.ca.us/city_hall/departments/admin/financial-ops.shtml.

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Solution Summary

The solution discusses which portion of the city budget is available for capital improvements and which assets cannot be considered, as they are already set aside for regular expenses. In this instance, the budget for San Moreno, California comes from the Comprehensive Annual Financial Report.

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The Comprehensive Annual Financial Report of San Moreno, CA, for 2009 includes a breakdown of assets and unrestricted net assets in the auditor's report. It is the unrestricted assets that are used to meet the city's ongoing obligations to "citizens and creditors" (Mayer Hoffman McCann P.C., 2009). In this instance, $65.7 million in unrestricted assets, of the $903.2 million, is reserved for meeting ...

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Beatrice Martino, MEd
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  • MEd, Jones International University
  • BSc, DeVry University
  • MPH, Walden University
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