Question
Hello, I need to answer these questions by the end of the week: 11. How can you tell if encumbrances (amounts obligated by the government
Hello, I need to answer these questions by the end of the week:
11. How can you tell if encumbrances (amounts obligated by the government for future expenditures) will be expended in the following year or if those amounts have to be "rebudgeted" in the following year?
12. Describe the main sources of revenue for (1) the governmental activities and (2) the business-type activities of the government entity. Where in the CAFR can this information be located?
13. What is the accounting basis for recognizing revenues? How can the reader determine this basis?
14. Does the government entity report deferred or unearned revenues, deferred outflows of resources, or deferred inflows of resources? What are they?
15. Does the government collect revenue from property taxes? What is the property tax rate, when are property taxes due, and when do penalties and interest accrue?
16. What are the ending fund balances by category for each of the major funds presented?
17. Does the government classify expenditures by function or object, and does it differ significantly in the government-wide financial statements versus the government funds financial statements?
18. Where is depreciation expense reported?
19. What are the Other Financing Sources and Uses the government entity reported in the governmental funds financial statements?
20. What capital projects funds did the government report (hint: also look in the schedules following the notes)? Are any of these funds reported as major funds, and how can you tell?
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