Go to the Web site featuring the financial statements of Minneapolis, Minnesota, at www.minneapolismn.gov/finance/reports/CAFR/financial-reports_cafr-home Required Provide brief

Question:

Go to the Web site featuring the of Minneapolis, Minnesota, at
www.minneapolismn.gov/finance/reports/CAFR/financial-reports_cafr-home
Required
Provide brief answers to the following:
1. The financial section includes the basic notes to the required supplementary information, and supplementary information. Describe key features of each of these components of the What key information do you see that was not included in the text? Compare the Minneapolis statements with those of the city of Milwaukee.
2. Compare the information found in the letter of transmittal (in the introductory section) with that found in the newly required management’s discussion and analysis (in the financial section).
3. Where do you find budgetary comparison information?
4. List the major governmental funds. How does Minneapolis determine major funds? List the non-major governmental funds.
5. How is Minneapolis handling the requirements for reporting and depreciating infrastructure assets?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...