in Kentucky
Project_NFPO & CAFR (50 points) Instructions: 1st, in the table at the end of the file, locate the state you are assigned, e.g., Student A is assigned Michigan, etc. 2nd, locate one NFPO within that state to answer the question in Section I. 3rd, Google the most recent CAFR of the state you are assigned (Hint: Google with the state name and CAFR to get the CAFR you need.) Answer the questions related with CAFR of that state in Section II. Last, compare the CAFR of the state you are assigned with the CAFR of Texas. Answer the questions in Section III. (Hint: You'd better use the same period or it is like comparing apple with banana.) Hints: 1. This project is quite straight-forward. Just answer what you are asked for. 2. Use COMPLETE SENTENECES to answer each question. Please NO listing your answers in few words, or you will lose half of the point if you listing. 3. If the state you are assigned is without some information required (e.g., issuing bonds), please mention it in your project. However, if I find the related information, you will lose the points. 4. You can attach any documents if you like. Or just give the web links as a list of reference. 5. Project length? No requirements. Use you professional judgment to answer the questions in a professional, concise, and clear way. I. Not-for-Profit Organizations: (10) In this part, find one NFPO in your assigned state to describe the following information: 1. The name of the NFPO and its mission. (2) 2. Find related information about a contribution. Describe it and prepare the related journal entry. (Focus on the accounts you need to use instead of on the specific amount. In other words, it is fine if you do not know the exact amount of its contribution.) (2) [Hint: e.g., Dr. ** account ** (exact number is not required) Cr. ** account 3. Find related information about an expense. Describe it and prepare the related journal entry. (2') [ Hint: same as above, no amount needed/required here.] Note: It is ok if the information you find has both contribution and expense. 4. Can you find any services presented in its statement or web page? If yes, describe it here. (2) 5. Can you find any collections presented in its statement or web page? If yes, describe it here. (2') II. CAFR of the State Government (20') In this part, provide the following information: 1. State name. The fiscal year of the state, and the year of the CAFR you use. (2) 2. General information: (3') a. The state's population. b. The state's organization chart. c. The number of employees the state government organization employs, if possible. 3. About the budget. Find the Budgetary Comparison Schedule for the General Fund: (3') a. The information on budgeted revenues or budgeted OFS; b. The information on budgeted expenditures or budgeted OFU; and c. Can the budgeted revenue cover all budgeted expenditures? 4. About the funds: (1.5**4=6") Based on the information you get, describe any of the 4 typical funds used by the state you are assigned. 5. About the statement of cash flows of a proprietary fund. Provide information about the 4 parts of the SCF. (1*4=4") 6. About issuing bonds. Provide information of the reason(s) for the state to issue bonds and the amount, if possible (2) III. Comparing the CAFR of the state you assigned with the CAFR of Texas (20") Note: Better to compare the same period! 1. After reading the CAFRs of the two states, which state do you think is in a better status? Why? (10') 2. Anything interesting/special you want to share with us about the CAFR of the state you assigned and/or Project_NFPO & CAFR (50 points) Instructions: 1st, in the table at the end of the file, locate the state you are assigned, e.g., Student A is assigned Michigan, etc. 2nd, locate one NFPO within that state to answer the question in Section I. 3rd, Google the most recent CAFR of the state you are assigned (Hint: Google with the state name and CAFR to get the CAFR you need.) Answer the questions related with CAFR of that state in Section II. Last, compare the CAFR of the state you are assigned with the CAFR of Texas. Answer the questions in Section III. (Hint: You'd better use the same period or it is like comparing apple with banana.) Hints: 1. This project is quite straight-forward. Just answer what you are asked for. 2. Use COMPLETE SENTENECES to answer each question. Please NO listing your answers in few words, or you will lose half of the point if you listing. 3. If the state you are assigned is without some information required (e.g., issuing bonds), please mention it in your project. However, if I find the related information, you will lose the points. 4. You can attach any documents if you like. Or just give the web links as a list of reference. 5. Project length? No requirements. Use you professional judgment to answer the questions in a professional, concise, and clear way. I. Not-for-Profit Organizations: (10) In this part, find one NFPO in your assigned state to describe the following information: 1. The name of the NFPO and its mission. (2) 2. Find related information about a contribution. Describe it and prepare the related journal entry. (Focus on the accounts you need to use instead of on the specific amount. In other words, it is fine if you do not know the exact amount of its contribution.) (2) [Hint: e.g., Dr. ** account ** (exact number is not required) Cr. ** account 3. Find related information about an expense. Describe it and prepare the related journal entry. (2') [ Hint: same as above, no amount needed/required here.] Note: It is ok if the information you find has both contribution and expense. 4. Can you find any services presented in its statement or web page? If yes, describe it here. (2) 5. Can you find any collections presented in its statement or web page? If yes, describe it here. (2') II. CAFR of the State Government (20') In this part, provide the following information: 1. State name. The fiscal year of the state, and the year of the CAFR you use. (2) 2. General information: (3') a. The state's population. b. The state's organization chart. c. The number of employees the state government organization employs, if possible. 3. About the budget. Find the Budgetary Comparison Schedule for the General Fund: (3') a. The information on budgeted revenues or budgeted OFS; b. The information on budgeted expenditures or budgeted OFU; and c. Can the budgeted revenue cover all budgeted expenditures? 4. About the funds: (1.5**4=6") Based on the information you get, describe any of the 4 typical funds used by the state you are assigned. 5. About the statement of cash flows of a proprietary fund. Provide information about the 4 parts of the SCF. (1*4=4") 6. About issuing bonds. Provide information of the reason(s) for the state to issue bonds and the amount, if possible (2) III. Comparing the CAFR of the state you assigned with the CAFR of Texas (20") Note: Better to compare the same period! 1. After reading the CAFRs of the two states, which state do you think is in a better status? Why? (10') 2. Anything interesting/special you want to share with us about the CAFR of the state you assigned and/or
