Question: Obtain a recent CAFR or the Basic Financial Statements of a state or local government (SLG). Study the Basic Financial Statements and related notes, make

Obtain a recent CAFR or the Basic of a state or local government (SLG). Study the Basic and related notes, make a copy of or prepare a table of contents for the notes, and answer the following questions from a note disclosure perspective:
1. What information can one learn about the state or local government from the notes that is not apparent from the face of the Pretend there were no notes. To what extent would the Basic be less useful? Why?
3. Which notes did you find the most interesting and useful? Why?

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