11. Statistical Section:(Liliana) Review the statistical section of the CAFR. Discuss the information presented in each the five categories and comment on significant trends or fluctuations in the tables and schedules presented in each category. The statistical section of the City of Bakersfield for the year ended June 30, 2014 provides detailed information about the financial reports, for a better understanding of the City’s overall financial health. In accordance with GASB, Bakersfield statistical section is presented in five categories. These categories are; 1)Financial trends,2) Revenue Capacity, 3)Debt Capacity, 4)Demographic and Economic Information, and 5)Operating Information. The statistical section provides information from the …show more content…
It provides information about all the accounts in the General Fund and the totals of all other governmental funds. According to the notes on page 144, “in the fiscal year 2010-11, the City implemented GASB 54 under which governmental fund balances are reported as nonspendable, restricted, committed, assigned, and unassigned. For the fiscal year 2009-10 fund balances have been characterized to comply with GASB 54 in order to facilitate year-to year comparisons.” This made the report’s presentation look unusual. Half of the page contains the old account names and the balances from 2005 to 2009. The other half of the page presents the new way of reporting the fund balances and the information for the following years. The last report for this section is the Changes in Fund Balances of Governmental Funds. The change on the presentation of fund balances did not affect the presentation of this report. The major changes that happed the fund balances seem to be a negative ending balance from 2008 to 2011. Most likely due to the …show more content…
This is done by providing statistical information about the number of government employees, indicators of demand or level of service, and information about capital asset. This category is the most extensive, it begins on page 169 and ends on page 180. The reports included are; Principal employers, Full-time Equivalent City Government Employees by Function, Property Value, Construction and Bank Deposits, Operating Indicators by Function, Capital Assets Statistics by Function, and Schedule of Insurance in Force. In 2007 and 2008 the City had largest number of government employees 1,613, but in 2009 it decreased 1446 and stayed within that range until 2014 when the number of government employees increased to
Myra L. Frank & Associates. City of Los Angeles EIR / EIS Volume 1 $ 2. 1990.
As a way to communicate additional information to the audience, Barbara Ehrenreich provided statistical data in the footnotes of certain pages. Although these statistics are not
Using the 5 different ratio analysis used earlier to analyse BMO life insurance company’s Q2-2015 Consolidated Income statement and Q2-2015 Consolidated Balance sheet. BMO’s profit margin is 9.79%1. Meaning BMO earns more net income per $1 of sales than some or even most of its competitors. This can be rated as favorable in comparison to its industry average of 9.58%. BMO’s days’ sales uncollected is 21.84days2 favorable when compared to its industry’s average of 98.59 days. This means that BMO can liquidate it receivables in lesser days than some or most of its competitors. BMO’s equity ratio shows that the owners of the company only owns 10.66%3 of the company’s assets. Compared to its industry
The City of Rock Hill has multiple budgetary funds. They have reported up to nine individual governmental funds, which include General Fund, SW TIF Fund, Street Bond Fund, and Capital Projects Fund (City of Rock Hill 2013, 6). The city also maintains other funds that are combined into one single fund called “other governmental funds,” which makes it easier to budget (City of Rock Hill 2013, 6). Within the other governmental fund category are the Police Training Fund, Asset Forfeiture Fund, Sewer Lateral Fund, McKnight Crossing TIF Fund, and the NW TIF Fund (City of Rock Hill 2013, 51). All of these funds make up the City of Rock Hill’s major and nonmajor funds. According to Bland, the City of Rock Hill is following the proper procedures, when it comes to governmental budgeting. The City of Rock Hill follows the generally accepted accounting principles (GAAP), which Bland states help standardized the governmental accounting profession (Bland, 107). As a lot of the of funds mention by Bland have different titles than Rock Hill’s funds, they operate in the same way. The cities Capital Project Fund increased by $252,940, and the SW TIF fund increased by $89,354(City of Rock Hill 2013, 10). Overall the cities combined fund balance decreased 28% or $1,237,418 from 2012, which the city said they could spend at their discretion (City of Rock Hill 2013, 10).
ExxonMobil is an American international oil and gas corporation. The company’s financial perspective focuses on improve the values of the company and growth in sales revenue.
Situated in the heart of North Carolina, the Town of Chapel Hill is located in Orange County (and part of Durham County), and dubbed the “Southern Part of Heaven” (Town of Chapel Hill, 2014). Serving home to the University of North Carolina at Chapel Hill, along with UNC Health Care and UNC Children’s Hospital, it is the 16th largest municipality in North Carolina, with an assorted population of over 58,424 residents (Chapel Hill Community Overview, 2014).
Overall, the general fund ending balance increased by approximately $2 million dollars in 2014-15. The unrestricted balance increased by $4.7 million and the restricted balance decreased by $2.6 million. On the restricted side the balance was increased by closing fund 14 (deferred maintenance) and decreased by the common core professional development implementation. Mr. Anderson noted that salaries and benefits are 86% of the budget. The general fund ending balance is $37,264,430 and the total reserve is 9.5%. The next steps include updating 2015-16 beginning balances, analyzing enrollment, analyzing and adjusting salary and benefits and preparing for the 1st interim report on 12/8/15 and the external audit presentation on 1/26/16. Board member Hurd and Mintz thanked Mr. Anderson for the detailed report and for the behind the scenes work done by his
Part II: Financial Analysis Section 1: Business Analysis Honeywell International Inc. (see also, attached Excel spreadsheet) Honeywell International Inc. operates as a technology and manufacturing company all over the world. It is an American multinational company that produces a large variety of commercial and consumer products, as well as engineering and aerospace systems for major companies and international governments. It is a Fortune 100 company, and in 2012 was listed as number 77 in the Fortune 500 America ranking.
I chose the October 27th board meeting. Right away I could tell that the members on the board were clearly articulate educators at various schools in Fayette County. I couldn’t unfortunately hear the names of the individual members on the board. There was 2 people who ended up addressing the board. One a reverend who had issue with the math scores that the district had which were novice. He was also unhappy that 40% of students in the district made a novice in reading. He didn’t like that 2/3rds of the African American students couldn’t read on grade level. He had a lot of support from the crowd as he got a lot of applause and he even had some people on the school board nodding in agreement.
California is one of the major states that contains a vast population of people in the United States. It is known to contain big cities, celebrities, and movies. In fact, it is also a state that contains thousands of people living in poverty. I conducted an analysis on Santa Cruz county cities Santa Cruz and Watsonville. In my findings, I saw that Santa Cruz is considered to be the wealthy city, whereas Watsonville is the poorest within the county.
...rs, setting a good trend for the corporation. They also have a very low debt-to-equity ratio, indicating that they have enough equity to easily pay off any funds acquired from creditors. As a creditor I would feel safe in lending them funds for any future projects or endeavors.
National Center for Education Statistics' (n.d.). Budgeting, financial accounting for local and state school systems. Retrieved from http://nces.ed.gov/pubs2004/h2r2/ch_3.asp
FASAB faces many unique challenges when developing accounting standards for the federal government. The federal government's shear size, ability to manipulate the money supply, and complex issues such as accounting for social security all complicate the task of developing a single standard for representing the government's financial activity. In spite of these obstacles FASAB has managed to provide a standard requiring all agencies to provide similar reports, which can is then consolidated into an individual report. This allows the reader to analyze the whole as well as the contributions of the individual parts.
The primary purposes of the governmental budget are to legitimize public expenditures and to account for and control the usage of public resources. As budgets evolve, officials find that the annual budget should be used for planning, coordinating, and scheduling programs. Demands on municipalities force them to engage in establishing priorities and monitoring how well the priorities are achieved. It is no longer possible for a municipal government to do everything for everyone. A municipal government must prioritize the services that are mandatory, urgent, and that are done well. Resources must be aligned with strategies and citizen’s needs by allocating them over some time frame; usually twelve months – a fiscal year.
Fiscal Affairs Department of IMF in 2009 declared that a statement of the main central government tax expenditures should be required as part of the budget or related fiscal documentation, indicating the public policy purpose of each provision, its duration, and the intended beneficiaries. In addition, there is an area of the budget that routinely escapes rigorous inspection. This is the large allocation of state resources through the use of tax expenditures which reduce the taxes that might otherwise be collected. The tax expenditure report supplements the annual or biennial budget document (Benker, 1986).