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Calculate operating margin Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year
Calculate operating margin Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30 , 2019: City of Tallahassee General Fund Balance Sheet (in thousands) Assets: \begin{tabular}{|l|r|} \hline Cash and cash equivalents & $2,480 \\ \hline Due from other governments & 0 \\ \hline All other assets & 11,848 \\ \hline Total assets & $14,328 \\ \hline \hline Liabilities: & \\ \hline Total current liabilities & $11,287 \\ \hline Fund balance: & \\ \hline Nonspendable & 1,500 \\ \hline Committed & 0 \\ \hline Assigned & 0 \\ \hline Unassigned & 1,541 \\ \hline Total fund balance & 3,041 \\ \hline Total liabilities and fund balance & $14,328 \\ \hline \hline \end{tabular} a) Calculate the city of Tallahassee's operating margin ratio. \% Assume all transfers in are recurring. Round percentage to two decimals. b) Included in expenditures is $28 million in costs related to Hurricane Michael. Calculate the operating margin ratio assuming those costs were not incurred. 1% Assume all transfers in are recurring. Round percentage to two decimals
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