Question: Using your city's financial reports answer the following questions: https://www.hiltonheadislandsc.gov/finance/cafr/ 1. Look at the Balance Sheet for the governmental funds. What are the major assets?

Using your city's financial reports answer the following questions:

https://www.hiltonheadislandsc.gov/finance/cafr/

1. Look at the Balance Sheet for the governmental funds. What are the major assets?

2. What are the major liabilities?

3. What categories of Fund Balances are reported?

4. Does your city report any special revenue funds? List them.

5. Do the notes to the financial statements describe modified accrual accounting? List the description.

6. Is the Fund Balance as of the balance sheet date larger or smaller than at the beginning of the year?

7. List any reasons for the changes in Fund Balances from the beginning of the year to the end of the year.

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