Obtain a copy of a recent CAFR of a state or local government. Evaluate the contents of the CAFR based on Ilustration 15-1. Include in your brief analysis your observations with respect to: 1. Introductory Section Are the components required by the GASB present? What other items are included? Overall, how useful do you think this section is to the CAFR users? Financial Section a Auditor s report Compare it to the report of independent accountants in llustration 15-2. How is it simiar? How does it differ? 2) Do any aspects of the report differ from what you expected? Explain. Basic Financial Statements Are al required Basic Financial Statements present? Do you observe any statements or statement items that differ from what you expected? Explain. Notes to the financial statements-Compare the types of notes presented to those listed in llustration 13-14. What notes are presented that are not fisted in that lustration? What notes fisted in llustration 13-14 are not presented? Combining and individual fund statements and schedules Statements-Are all of the required financial statements presented? Note the specific types of Special Revenue Funds, particularly any that differ from what you expect. Schedules-What types of schedules are presented? Were any schedules presented to demonstrate legal compliance? Statistical Section Are al of the items fisted in llustration 15-1 present? What other informational presentations are included? b. What do you find most interesting in the statistical section? What do you consider most useful to one attempting to understand the government? Obtain a copy of a recent CAFR of a state or local government. Evaluate the contents of the CAFR based on Ilustration 15-1. Include in your brief analysis your observations with respect to: 1. Introductory Section Are the components required by the GASB present? What other items are included? Overall, how useful do you think this section is to the CAFR users? Financial Section a Auditor s report Compare it to the report of independent accountants in llustration 15-2. How is it simiar? How does it differ? 2) Do any aspects of the report differ from what you expected? Explain. Basic Financial Statements Are al required Basic Financial Statements present? Do you observe any statements or statement items that differ from what you expected? Explain. Notes to the financial statements-Compare the types of notes presented to those listed in llustration 13-14. What notes are presented that are not fisted in that lustration? What notes fisted in llustration 13-14 are not presented? Combining and individual fund statements and schedules Statements-Are all of the required financial statements presented? Note the specific types of Special Revenue Funds, particularly any that differ from what you expect. Schedules-What types of schedules are presented? Were any schedules presented to demonstrate legal compliance? Statistical Section Are al of the items fisted in llustration 15-1 present? What other informational presentations are included? b. What do you find most interesting in the statistical section? What do you consider most useful to one attempting to understand the government
