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Comprehensive Annual Financial Report (CAFR)

I need your help to review the Comprehensive Annual Financial Report.

1. Select one of the more recently established (and larger) capital projects funds (a major fund, if there is one).

a. From where did the fund receive most of its resources?

b. Did the city acquire or construct new capital assets using resources of this fund? If, so, in what amount?

c. Does this fund have any long-term debts associated with it? If so, does the government maintain a debt service fund to account for the resources to service the debt?

Did the Government Issue additional long-term debt to support governmental activities during the year? Did it repay any long-term debt used to support governmental activities? Did it engage in any in-substance defeasances?

Solution Preview

Comprehensive Annual Financial Report (CAFR), the agency for the fiscal year ending June 30, 2008. The agency has produced a CAFR, is prepared in the governmental accounting standards board (GASB).
During the fiscal year 2008 experienced a growth in commercial and industrial market due to the development of class office buildings, increase in tenant improvements and increase in business personal properties and equipment. Growth accounts for the 12.38% increase in property assessed values in the industrial redevelopment project areas.
Long term financial planning in July 2008, the country assessor published the 2008-2009 annual tax roll with a projected 8.5% jump in tax increment revenue.
In the next four years, annual tax increment growth is projected between the 5% to 12% range.
June 24, 2008 is the total operating budget of $22.3 million and capital budget of $183.4 million to create jobs and expand business, $88.5 million to public facilities, $0.2 million to develop affordable housing $16.8 million to strengthen neighborhoods, and $47.0 million.

1. Select one of the more recently established (and larger) capital projects funds (a major fund, if there is one).

2008-2009 as the city council amends the redevelopment plans to increase the agency’s tax increment capital spending on new capital projects will be sharp.
The government-wide financial statements are designed to provide readers with a broad overview of the agencies finances, in a manner similar to a private sector business.
The statement of net assets reports all financial and capital resources of the agency. The agency presents the statement is a format that displays assets less liabilities equal net assets/deficit. Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the agency is improving or deteriorating.
The statement of activities presents information showing ...

Solution Summary

Comprehensive Annual Financial Report (CAFR) is guided.