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Assume the following information was obtained fron the comprehensive annual financial report of the city of Tampa, Florida for a recent fiscal year. All amounts

Assume the following information was obtained fron the comprehensive annual financial report of the city of Tampa, Florida for a recent fiscal year. All amounts are in thousands. image text in transcribed
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\begin{tabular}{|c|c|c|c|} \hline Condensed General Fund balance sheet: & & Debt service expenditures & \\ \hline Total assets & $144,491 & in governmental funds & \\ \hline Total liabilities & $24,596 & Principal & $14,144 \\ \hline Fund balance & $119,895 & Interest & $10,882 \\ \hline Cash and investments & & Total & $25,026 \\ \hline included in assets & $126,647 & Debt service principal maturities & \\ \hline Components of General Fund fund balance: & & 2,020 & $14,214 \\ \hline Nonspendable & $309 & 2,021 & 23,695 \\ \hline Committed & 733 & 2,022 & 25,504 \\ \hline Assigned & 28,032 & 2,023 & 32,905 \\ \hline Unassigned & 90,821 & 2,024 & 65,940 \\ \hline Total & $119,895 & 20252029 & 136,965 \\ \hline Total revenues: & & 20302034 & 92,627 \\ \hline Property taxes & $147,498 & 20352044 & 19,728 \\ \hline Utility charges & 41,107 & 20452054 & 14,122 \\ \hline State aid & 47,914 & Total & $425,700 \\ \hline Charges for services & 52,825 & Pension data: & \\ \hline Other & 75,522 & General employees: & \\ \hline Total & $364,866 & Pension liability & $756,472 \\ \hline Transfers in & & Plan fiduciary net position & $677,218 \\ \hline Recurring & $25,082 & Fire and Police & \\ \hline Property taxes: & & Pension liability & $1,966,238 \\ \hline Tax levy & $151,421 & Plan fiduciary net position & $1,779,355 \\ \hline Tax collected in year of levy & $147,029 & & \\ \hline \end{tabular} Other information: 1. All liabilities are current. 2. Assigned funds are all for intended uses, but no formal action taken to commit. 3. Transfers in are virtually all recurring payments in lieu of taxes and franchise fees. 4. Governmental activities debt services includes notes payable of $55,040 thousand. Calculate the following ratios: Budgetary cushion Debt Service Burden % of principal paid back in 5 years % of principal paid back in 10 years Quick ratio Property tax collection rate % Pension benefit burdens: General % How do Tampa's ratios compare to norms? Budgetary cushion Debt Service Burden % of principal paid back in 5 years % of principal paid back in 10 years Quick ratio Property tax collection rate Pension benefit burdens

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