(Research Problem) Obtain a copy of a recent comprehensive annual financial report (CAFR) of a state or local government from the government, the Internet, your professor, or a library.

Required

(1) Letter of Transmittal. Review the revenue-related discussions and presentations. What were the most significant general government revenue sources? Which general government revenues increased (decreased) significantly from the previous year?

(2) Financial Statements. Indicate the sources of general government revenues. Did any revenue sources differ from what you expected based on your study of Chapters 2-5? Explain.

(3) Summary of Significant Accounting Policies (SOSAP). Review the general government revenue-related SOSAP disclosures. Were any of these disclosures different from, or in addition to, those you expected based on your study of Chapters 2-5? Explain. (4) Statistical Section. Review the general government revenue-related statistical presentations. Explain how these might be useful in evaluating the general government financial position and changes in financial position.