Government and Not-For-Profit Accounting Eighth Edition

Review the comprehensive annual financial report (CAFR) you obtained. 1. Per the city's schedule of longterm obligations, what is the total longterm obligation for both governmental and businesstype activities? Does this amount reconcile with the longterm liabilities as reported on the government wide statement of net position? 2. In addition to bonds payable, what other kinds of longterm debt for governmental activities did the city report in its statement of net position? 3. Did the city increase or decrease its longterm borrowings during the year? What was the effect on total longterm liabilities at year end? Explain. 4. What is the percentage of total net bonded debt to assessed value of property? What is the amount of net debt per capita? 5. What is the city's legal debt margin? 6. Does the city have any lease obligations outstanding? Are these accounted for as operating or financing leases? Can you determine if any of these leases were initiated during this year? What is the amount of payments related to financing leases? 7. Compute the total amount of the city's direct and overlapping debt? 8. Does the city have outstanding any conduit debt?