Problem 17-10 (LO 3) Reporting under GASB Statement No. 34. Go to the Web site featuring the financial statements of Minneapolis, Minnesota, at http://www.ci.minneapolis. mn.us/finance/reports/CAFR/index.htm. Provide brief answers to the following: 1. The financial section includes the basic financial statements, notes to the financial state- ments, required supplementary information, and supplementary information. Describe key features of each of these components of the financial statements. What key information do you see that was not included in the text? Compare the Minneapolis statements with those of the city of Milwaukee. 2. Comparetheinformationfoundintheletteroftransmittal(intheintroductorysection)withthat found in the required management's discussion and analysis (in the financial section). 3. Wheredoyoufindbudgetarycomparisoninformation? 4. List the major governmental funds. How does Minneapolis determine major funds? List the nonmajor governmental funds. 5. HowisMinneapolishandlingtherequirementsforreportinganddepreciatinginfrastructure assets?

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