Continuing Problem (Questions 1 through 8) textbook pages 411 2019 Town of Cary, NC CAFR is used for these questions

1. Activities accounted for in both internal service funds and major enterprise funds - _________________________________________________________________________________

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Could any of these activities have been accounted for in a general or other governmental fund? _________________________________________________________________________________

2. How are the internal service fund activities reported in the government-wide state of net position? - _________________________________________________________________

How are the internal service fund activities reported in the proprietary funds statement of net position? _______________________________________________________________

3. Did any of the internal service funds report significant operating surpluses or deficits for the year? Yes or No _____________________________________________________________

Were any accumulated significant net asset balances over the years not invested in capital assets? Yes or No ____________________________________________________________

4. Were any of the Town of Carys enterprise funds profitable during the year? Yes or No __

If so, what has the Town of Cary done with the earnings? __________________________

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Has Cary transferred them to the general fund? Yes or No ___________________________

5. Does the Town of Cary have revenue bonds outstanding that are related to business-type activities? Yes or No _________________________________________________________

If so, for what activities? ______________________________________________________ __________________________________________________________________________ __________________________________________________________________________

6. Does the Town of Cary, NC s CAFR include a statement of cash flows for proprietary funds? Yes or No __________________________________________________________________

Is the statement a direct or indirect basis? ________________________________________

In how many categories are the cash flows presented? ______________________________

Which of these categories resulted in net cash inflows? _____________________________

Which resulted in net cash outflows? ____________________________________________

7. What was the total operating income? ___________________________________________

What was total net cash provided by operating activities? ____________________________

What accounts for the largest difference between these two amounts? _________________

8. Has the Town of Cary, NC entered into any service concession arrangements? Yes or No ___

Which specific ones, and why? _________________________________________________

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