For City of Kirkwood MO fiscal year ending $3/31/23$

a$.$ Examine the governmental fund financial statements. Are any major capital projects funds included? If so$,$ list them. Attempt to find out the nature and purpose of the projects from the letter of transmittal, the notes, or MD&A$.$ What are the major sources of funding, such as bond sales, intergovernmental grants, and transfers from other funds? Were the projects completed during the year? b$.$ Again looking at the governmental fund financial statements, are any major debt service funds included? If so$,$ list them. What are the sources of funding for these debt service payments? c$.$ Does your report include supplemental information including combining statements for nonmajor funds? If so$,$ are any capital projects and debt service funds included? If so$,$ list them. Indicate the major revenue and other financing source categories for these funds. c$.$ Does your report include supplemental information including combining statements for nonmajor funds? If so$,$ are any capital projects and debt service funds included? If so$,$ list them. Indicate the major revenue and other financing source categories for these funds. d$.$ Review the governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances, specifically the expenditure classification. Compute a ratio of capital outlay$/$total expenditures. Again, compute a ratio of debt service$/$total expenditures. Compare those with your classmates$$ ratios. Comment on the possible meaning of these ratios. e$.$ Review the notes to the financial statements, specifically the note $($in the summary of significant accounting policies$)$ regarding the definition of modified accrual accounting. Does the note specifically indicate that modified accrual accounting is used for capital projects and debt service funds? Does the note indicate that debt service payments, both principal and interest, are recorded as an expenditure when due? f$.$ Does your government report capital leases payable in the governmentwide Statement of Net Position? If so$,$ can you determine if new capital leases were initiated during the year? Can you trace the payments related to capital leases? g$.$ Does your government report any permanent funds, either major or nonmajor? If so$,$ list them. What are the amounts of the permanent resources available for governmental purposes? What is$/$are the governmental purpose$($s$)?$