CAFR Paper on Austin, Texas

Additional CAFR Project questions:

  • Proprietary Funds

(1)    How many major enterprise funds does the entity maintain (if any)?

(2)    Are all the major enterprise funds operating at a profit (Operating Income)?

(3)    Does the entity maintain any internal service funds (major and/or nonmajor)?

(4)    Do the financial statements include a statement of cash flows for proprietary funds? If so, is the direct method or indirect method used?

  • Fiduciary Funds

(1)    There are four types of fiduciary funds. Does this entity maintain all four types?

(2)    What are the purposes of the entity’s fiduciary funds?

  • Other

(1) What is the financial condition of the government you selected?

For example, compare current revenues and expenses with the prior year.

Compare the budgeted amounts with the actual amounts.

Also, look for key issues addressed in the “Management’s Discussion and Analysis” section of the CAFR.  What do you see that is particularly noteworthy.

  • Introductory/Financial Section

(1) Was the entity’s annual report for the previous year awarded a “certificate of achievement for excellence in financial reporting” by the GFOA?

(2) Which public accounting firm audited the financial statements? What was the auditor’s opinion on the financial statements?

(3) Did the auditor mention internal controls in their report?  Did the auditor provide an opinion on the entities internal controls?

(4) Was an organizational chart presented?  What person, group or entity was at the top of the chart?

Governmental Funds

(1) How many Governmental Funds are presented as major funds on the financial statements?

(2) What is the total assets amount (in thousands) on the Governmental Funds balance sheet (include both major and non-major funds)?

(3) For Governmental Funds, what activity accounted for the largest source of revenue (found on the “Statement of Revenues, Expenditures and Changes in Fund Balance”)?

(4) For Governmental Funds, what activity accounted for the largest source of expenditure (found on the “Statement of Revenues, Expenditures and Changes in Fund Balance”)?

(5) Does your entity have any special revenue funds presented on the financial statements as a major Governmental Funds?

(6) How many Governmental Funds in total (major and non major) does the city maintain?

(7) Does the city have any permanent funds?

(8) What was the Total Fund Balance on the Governmental Funds Balance Sheet (This is the sum of nonspendable, restricted, committed, assigned, and unassigned fund balances)?

Statistical Section

(1) Who was the largest employer of the entity (if this information is provided)?

(2) Please provide several additional interesting statistical data points from your CAFR.  For example, you can list the property tax rate, unemployment rate, per-capital income, etc.

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