Continuing Problem

Review the Annual Comprehensive Financial Report $($ACFR$)$ you obtained.

What are the principal classes of capital assets associated with governmental activities that the city reports in its

financial statements?

What was the total amount of capital assets used in governmental activities added during the year? What was the

amount retired?

What is the city's threshold policy on capitalizing general capital assets and intangible assets?

How much depreciation did the government charge in its government$-$wide statements on capital assets used in

governmental activities?

Did the government capitalize infrastructure assets acquired during the year? Did it account for infrastructure

assets using the "standard" or the "modified" approach?

Did the government capitalize collections of art or historical treasures? Did it depreciate such collections?

Judging from the disclosures pertaining to investments, does the entity have any investments that appear to be

especially risky? In your judgment, to which risk $($e$.$g$.,$ credit risk, interest rate risk, foreign currency risk$)$ is the

exposure of the entity the greatest?

Does the government own any "unusual" securities such as derivatives? If so$,$ does the report contain an

explanation of these transactions?

Did the city face any natural disaster that caused an impairment to its capital assets? How was that reported and

accounted for?

USE CITY OF AUSTIN $2017$