Problem 2

A government's comprehensive annual report (CAFR) is divided into three main sections.

The statements, schedules, tables and other types of data that follow are found in the annual report of a typical municipality.For each of these items indicate whether it would be found in the:

1.Introductory section

2.Financial section

3.Statistical section

If the item would be found in the financial section, then specify whether it would be included in:

A.MD&A

B.The basic financial statements

C.RSI

D.Combining statements and schedules

_____ 1.A government-wide statement of activities

____ 2.A statement of cash flow for a non-major enterprise fund

_____ 3.A balance sheet of non-major special revenue fund

_____ 4.A certificate of achievement for excellence in financial reporting

_____ 5.Data on general revenue, by source, for the past 10 years

_____ 6.The letter of transmittal

_____ 7.The total unfunded net pension liability for the last 10 years

_____ 8.Data on property tax collections for the past three years

_____ 9.A statement of revenue, expenses and changes in net position for the city's utility fund (one of two major proprietary funds)

__ ___ 10. A statement comparing budgeted and actual revenue and expenditures for a special revenue fund

_____ 11. Information from the CEO on trends and projections.