Continuing Problem (Questions 1 through 10) textbook pages 456 – 2019 Town of Cary, NC CAFR is used for these questions

1. Does the Town of Cary, NC maintain any permanent funds? Yes or No ________________

If so, are they major or non major funds?________________________________________

For what purpose? __________________________________________________________

2. Does the Town of Cary, NC maintain any fiduciary funds? Yes or No ___________________

For what purpose? __________________________________________________________

3. Does the Town of Cary, NC contribute to one or more pension plans? _________________

Are they defined benefit plans or defined contribution plans? _______________________

If defined benefit plans, are they single employer (maintained by the Town of Cary itself) or multiple-employer plans? _____________________________________________________

4. Does the Town of Cary, NC report pension expenses or expenditures? __________________

If so, in which fund or funds? ___________________________________________________

5. Does the Town of Cary, NC report pension liabilities? _______________________________

If so, in which fund or funds? ___________________________________________________

6. Does the CAFR indicate the actuarial value of plan assets and liabilities? ________________

Are the plans over or underfunded? _____________________________________________

7. Does the CAFR include the financial statements of the pension plan? Yes or No __________

Does the CAFR indicate that the pension plans issue their own reports? Yes or No ________

Are these publicly available? Yes or No __________________________________________

8. Did the pension investments have a “good year”? Yes or No _________________________
9. Does the CAFR indicate that the Town of Cary provides other postemployment benefits?

Yes or No __________ If so, what is the nature of these benefits? _____________________

How are they reported? _______________________________________________________

10. Does the Town of Cary, NC maintain any custodial funds? Yes or No ___________________

How many? _________________ For what purposes? _______________________________

______________________________________________________________________________________________________________________________________________________

Answer rating: 100% (QA)

Yes the Town of Cary NC maintains permanent funds The Town of Cary NC maintains both ma... View the full answer