Assignment Details A few weeks ago, you met with Shelly to present your analysis of the Comprehensive Annual Financial Report $($CAFR$)$ for the State of Florida. Since your meeting, Shelly has decided to look closer at the City of Orlando. Because Shelly is leaving a state that has had some budget concerns in the past, she has decided to look at the City of Orlando's budget. Shelly contacted you for your services again. She provided you with the Web link for the City of Orlando's latest budget, and she would like you to analyze the information and explain the results to her. A meeting has been set for the following week. After a meeting with Shelly, you want to provide her with a written document explaining the budget results. Examine the Budget Obtain a copy of the City of Orlando government's annual operating budget document from its Web site. This Web page provides a copy of this budget. Familiarize yourself with the organization of the operating budget document; read the letter of transmittal or any narrative that accompanies the budget. Prepare a $5-$page document showing your analysis of the budget. Start by answering the following questions to aid in assessing the quality of the budget document that you are reviewing. Provide the page numbers where the information is found in the budget. Introduction and Overview Answer the following questions: Does the operating budget include a table of contents to help you locate information in the document? Does the budget document include a coherent statement of organization$-$wide goals and strategies that address long$-$term issues? Does the document address short$-$term factors that influence the development of the budget? Does it include a budget message that articulates priorities and issues for the upcoming year? Does the budget document provide an overview of significant budgetary items and trends within the budget document that support ethical and legal accounting practices? Financial Structure, Policy, and Process Answer the following questions: Does the budget document include an organization chart? Does the budget document describe all funds that are subject to appropriation? Does the document include narratives, tables, schedules, or matrices to show the relationship between functional units, major funds, and nonmajor funds in the aggregate? Is the basis of budgeting explained for all fundswhether cash, modified accrual, or some other statutory basis? Is a coherent statement of entity$-$wide long$-$term financial policies included? Does the document address ethical and legal aspects of the process for preparing, reviewing, adopting, and amending the budget? Financial Summaries Answer the following questions: Does the document present a summary of major revenues and expenditures, as well as other financing sources and uses? Does the document include summaries of revenues, other financing sources, and expenditures and other financing uses for prior$-$year actual, current$-$year budget or estimated current$-$year actual, and proposed budget year? Does the document include projected changes in fund balances for governmental funds covered in the budget presentation, including all balances potentially available for appropriation? Are major revenue sources described? Does the budget document explain long$-$range financial plans and potential impacts on the budget and budgeting process? Capital and Debt Answer the following questions: Does the budget document include budgeted capital expenditures $($even if these are authorized in a separate capital budget$)?$ Does the document describe whetherand to what extentsignificant and nonroutine capital expenditures or other major capital spending will affect the entity's current and future operating budget? Are financial data on current debt obligations provided, describing the relationship between current debt levels and legal debt limits and explaining the effects of existing debt levels on current and future operations? Departmental Information Answer the following questions: Is a schedule or summary table provided that gives personnel or position counts for prior, current, and budget years? Does the operating budget describe activities, services, or functions carried out by organizational units? Does it include clearly stated goals and objectives of the organizational units? Are objective measures of progress toward accomplishing the government's mission, as well as goals and objectives, provided for specific units or programs? Document$-$Wide Criteria Answer the following questions: Does the document include statistical and supplemental data that describe the organization and the community or population that it serves, and does it provide other pertinent background information related to services provided? Does the document provide ethical and legal guidelines for the organization's financial position? Is there a glossary to define terms $($including abbreviations and acronyms$)$ that are not readily understood by a reasonably informed reader? Are charts and graphs used, where appropriate, to highlight financial and statistical information? Is narrative information provided when the messages conveyed by the charts and graphs are not self$-$evident? Finally, is the document produced and formatted in such a way as to enhance understanding by the average reader?Make sure to include an introduction paragraph and a conclusion.