Assume you are an analyst charged with the responsibility of advising investors regarding the general obligation and

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Assume you are an analyst charged with the responsibility of advising investors regarding the general obligation and revenue bonds of 10 cities. You have Comprehensive Annual Financial Reports for the 10 cities, and each report has received a Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association. You have decided to investigate the following ratios:

(1) Net debt per capita.

(2) Net debt to fair value of property.

(3) Net debt to assets.

(4) Debt service to total expenditures—General and debt service funds.

(5) Net assets/expenses.

(6) Unrestricted net assets/expenses.

(7) Unreserved fund balance/revenues—General Fund.

(8) Governmental revenues per capita.

(9) Interest coverage—revenue bonds.

(10) Operating ratio—enterprise funds.

Required:

a. Indicate precisely where in the CAFR you would find data needed to compute each of the ratios. Be specific.

b. Indicate briefly the purpose of each of the ratios. What would you learn from the numbers calculated?

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Part A A1 Net debt equals total general obligation debt minus the amount available in debt service funds for debt payment The general obligation debt figure should be found in the liability section of ...View the full answer

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Essentials of Accounting for Governmental and Not-for-Profit Organizations

ISBN: 978-0073527055

10th Edition

Authors: Paul A. Copley

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Question Posted: Jan 04, 2012 04:37 AM

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Assume you are an analyst charged with the responsibility of advising investors regarding the general obligation and

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Part A A1 Net debt equals total general obligation debt minus the amount available in debt service funds for debt payment The general obligation debt figure should be found in the liability section of ...View the full answer

Essentials of Accounting for Governmental and Not-for-Profit Organizations

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