After reviewing the website, locate the latest comprehensive annual financial report (CAFR) available on the website. For example, both the City of Sacramento and the City of Phoenix have their most recent Cafes online within an accounting /financial/section. Use the financial statement you locate to answer the following questions:

- How does the audit opinion given to this city by its independent auditors differs from the audit opinion rendered on the financial statements for a profit business?

- A reconciliation should be presented to explain the differences between the net changes in fund balances for the governmental funds ( fund financial statements) and the change in net position for the governmental activities (government -wide financial statements). What were several of the largest reasons for the difference.

- Did the CAFR contain all required components, and what was your impression of how the information was reported.

- What are some significant differences you see between the report you just reviewed and the for profit.

The city will be about Houston Texas

www.houstontx.gov

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