ACTG 430 Final Exam Take Home Portion -

Instructions

Download the City of Portland's CAFR as of June 30, 2018 either from the city's website or from D2L.

Answer the following questions (each question is worth 10 points, total of 100 points).

1.How many individual governmental funds does the City maintain?

a.How many of them are major and what are their names?

2.How many proprietary funds does the City maintain?

a.How many of them are major and what are their names?

3.Does the City have any component units?If so, please name and describe them.

4.Does the City have a Permanent Fund?If so, please describe its purpose and its primary activities during the year.

5.What is the largest noncurrent liability reported on the Statement of Net Position?

6.What is the largest revenue source for the city reported on the Statement of Activities?

7.What is the largest expense by function that the primary government incurred that is classified as a governmental activity as reported on the Statement of Activities?

8.What is the largest reconciling item on the Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position?

9.Name and explain one new GASB pronouncement that the City adopted during the fiscal year ended June 30, 2018.

10.What one thing did you learn about the City by reading the MD&A?