1. City of Providence officials considered a number of ideas to mitigate the financial pressures facing the city, including reducing the education budget and instituting an income tax for the city of Providence. Comment on these ideas.
2. The 20112013 Letters of Transmittal (pp. ix for 2011 and 2012; pp. ivii for 2013) described a number of actions taken to avoid the fiscal crisis facing the city. Given your understanding of these Letters and the Financial Statements, how would you assess the effectiveness of the actions taken in 2011 (e.g., did they improve Providences financial position and permit a more sustainable fiscal approach for the city)? What are the shortand long-term implications of the cost saving initiatives? Will the initiatives provide longterm solutions to the citys problems?
3. Given your answer above, what fiscal and operational challenges does Providence face in the next few years? What else should the city of Providence do to achieve financial and operational success?
4. Explain any measures your municipality has takenor is taking to mitigate the distress.
5. Comment on the ideas to mitigate the distress addressing both the short-term and long-term implications.
6. Make other suggestions regarding Providence.
7. Make other suggestions regarding your municipality.

Strategic Accounting Week 7 Requirement 2 Unrestricted Net Assets Net Assets Total Assets Total Liabilities Total Revenue Total Expenditures Changes in Net Assets Your Municipality: 2014 Name City of Orlando 2015 Current Ratio Debt ratio Requriement 3 Discuss The Trends ... How is Providence doing in 2013, 2014 and 2015 relative to 2011-2012 How is your Municipality doing? Compare your municipality with Providence 2014 2015 Note: use the latest TWO year available. 7 a. Is the City in Distress? Explain - where appropriate, calculate the cumulative operating deficit 2014 2015 2014 2015 7b. Risk factors for 2011-2015 for the City of Providence and 2014-2015 for your municipality Taxes to Revenue Inter-Governmental Revenues Administrative Cost Ratio Debt Level Debt to Revenue Level Size Revenue Growth Is the municipality in distress during the year - support your answer with your calculations (if you prefer, you may answer in a separate word document) Requirement 5 2014 Pensions - see what you can find for your municipality Net Pension Cost (2011-2013) Page 50 of 2013 footnotes Net Pension Liability - Page 53 of 2015 2015 What is the investment rate of return for the pension for 2015? Does that seem sustainable What happens? Other post employment benefits Annual OPEB Costs Contributions made Net obligations 2014 2015 unting Issues Note: use the latest TWO year available