A budget is a prospective document detailing how a city plans to spend money. A CAFR is a retrospective document identifying how the money was actually spent. Therefore, an evaluation of both the budget and the CAFR provide a complete picture of the fiscal health and priorities of the city.
For this assignment, obtain a copy of a city”s CAFR; you may choose the city. (The CAFR can typically be found on the city”s Web site.) If a CAFR is not available, obtain a quarterly financial report or an audit report instead.
A CAFR typically consists of financial and statistical sections that provide a comprehensive description of how a city has spent its revenue over the past fiscal year. The City of Alexandria, Virginia, provides quality instructions for how to read and understand a CAFR. Because CAFRs can be difficult documents to read, it is recommended that you first locate and review the City of Alexandria”s description of the different sections of a CAFR. Then review the CAFR of the city you selected.
Once you have evaluated the city”s CAFR, write a paper in which you answer the following questions:
1.What types of funds does the city use?
2.What has happened to the city”s general fund balance?
3.How has the city”s general fund balance increased or decreased in the past year?
4.What is the long-term debt trend for the city?
5.Has the city been issuing for debt recently? (This could be a sign of trouble for fiscal solvency.)
6.What other trends have affected the city”s financial health? (Examples could include population decline, et cetera.)
Please provide a cover page and a reference page that contains all sources used in the paper.
To achieve a successful assignment experience and outcome, you are expected to meet the following requirements:
Written communication: Written communication is free of errors that detract from the overall message.
APA formatting: Resources and citations are formatted according to APA (6th edition) style and formatting standards.
Length of paper: 3 typed, double-spaced pagesexcluding the cover page and the reference page.
Font and font size: Times New Roman, 12 point.
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The post Provide a comprehensive description of how a city has spent its revenue over the past fiscal year. The City of Alexandria, Virginia, provides quality instructions for how to read and understand a CAFR. appeared first on BEST NURSING TUTORS .