Chapter 7, Continuing Problem (page 314) City of Austin CAFR

You will need to access the City of Austin CAFR - FY2014

https://assets.austintexas.gov/financeonline/downloads/cafr/cafr2014.

1.) What are the principal classes of capital assets associated with government activity that the city reports in the financial statements?

2.) What are the total amount of capital assets used in government activities added during the year? What was the amount retired?

3.) what is the cities threshold policy on capitalizing General Capital assets and intangible assets?

4.) how much depreciation did the government change in its government-wide statement of capital assets used in governmental activity?

5.)Did the government capitalize infrastructure assets acquired during the year? Did it account for infrastructure as it using the standard or the modified approach?

6.)Did the government capitalize collections of art or historical treasure? Did it depreciate search collections?

7.) judging from the disclosure for training to investments, does the entity have any investments that appear to be especially risky? In your judgment to which risk (e.g. credit risk, interest rate risk, foreign currency risk) is the exposure of the entity the greatest?

8.) does the government own any unusual security such as derivatives? If so, does the report contain an exclamation of these transactions?