The Object Of This Case Is To Help You Obtain A Better Understanding Of How To Use F 2875612

Governmental and Nonprofit Accounting Summer 2018

Objective and General Requirements: The object of this case is to help you obtain a better understanding of how to use financial and nonfinancial information to assess the current and long-term financial condition of the city of Radford by comparing it to the cities of Harrisonburg.

You will use the information provided in Harrisonburg city CAFR to assess the current financial position and long-term financial condition or solvency of the city or county. The management discussion and analysis and the statistical section of the CAFR should be used.

Overview: For purposes of this project, financial condition is broadly defined as the ability of a city or county to provide an adequate range of services on a continuing basis. Specifically, it refers to a city’s ability to (1) maintain existing service levels, (2) withstand major economic disruptions, and (3) meet the demands of a changing society in a changing economy.

Assessing Financial Condition:

Financial information: Financial information is intended to help the reader understand and assess how the County’s financial position has changed over time. Answer the following questions.

  1. a.How have governmental activities net position changed for the year?
  2. b.How has the general fund’s fund balance changed for the year time?
  3. c.For governmental activities, compute unrestricted net assets / expenses.
  4. d.Compute general fund’s unassigned fund balance / general fund expenditures.

Revenue capacity informationRevenue capacity information is intended to help the reader understand and assess the County’s ability to generate its own local revenue source. Use information from the general fund for this section. Answer the following questions.

  1. a.What are the largest two sources of revenue?
  2. b What percent of general revenue come from property taxes?
  3. c.Compute local source revenue per capita.

Expenses information Expensesinformation is intended to help the reader understand and assess the County’s ability to meet its most significant local expense source. Use the general fund for this section. Answer the following questions.

  1. a.What is the largest expenditure for the general fund?
  2. b.What percent of expenditures come from it?
  3. c.Compute expenditures per capita.
  4. Based on the above, comment on the government’s ability to support its programs in the future.

Debt capacity informationDebt capacity information is intended to help the reader understand and assess the affordability of the County’s current levels of outstanding debt and the

County’s ability to issue additional debt in the future. Answer the following questions.

  1. a.Compute debt per capita and compare to other governments. (can be found in the statistical section)
  2. b.Compute total liabilities/total assets for governmental activities.
  3. c.Compute total liabilities/expense for governmental activities.
  4. d.Based on the above, comment on the government’s ability to support its programs in the future with debt.

Attachments:

Comprehensive….docHarrisonburg-….pdf

Prof. Angela

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