Utilizing the annual report obtained for Exercise 1–17, follow these instructions:
a. Custodial Funds. Note that depending on the CAFR fiscal year, agency funds rather than custodial funds may be reported. Does the government operate a tax custodial fund or participate in a tax custodial fund operated by another government? Does the government act as a custodian for owners of property within a special assessment district and for the creditors of those property owners? Does the government operate one or more pass-through custodial funds? If so, describe.
b. Investment Trust Funds. Does the government operate, or participate in, a cash and investment pool? If so, is the pool operated as an investment trust fund? If there is a cash and investment pool and it is not reported as an investment trust fund, how is it reported? Explain.
c. Private-Purpose Trust Funds. Does the government operate one or more private-purpose trust funds? If yes, explain the purpose(s). 

d. Pension Trust Funds. Are the government employees covered by a retirement fund operated by the government, by the state, by the federal Social Security Administration, or by two or more of these? If the government operates one or more pension plans, or retirement systems, is a reference made to the actuary’s report in the notes to the financial statements? Is a net pension liability reported in the government-wide statement of net position and/ or in a proprietary fund? Is all the pension information specified by GASB standards and discussed in Chapter 8 presented in the notes to the financial statements? Are all required supplementary schedules and related notes reported in the comprehensive annual financial report?

e. Fiduciary Fund Financial Statements. Are all fiduciary funds shown in a statement of fiduciary net position and a statement of changes in fiduciary net position? Does the financial report state the basis of accounting used for trust and custodial funds? Are custodial funds properly disclosed in the financial statements? Does the report contain a schedule or list of investments of trust funds? Are investments reported at fair value? Is the net increase (decrease) shown separately from interest and dividend income?