Obtain a copy of the Comprehensive Annual Financial Report (CAFR) for the State of Texas for the Fiscal Year Ended August 31, 2014 from the Texas Department of Finance and Administration website -

http://www.texastransparency.org/State_Finance/Budget_Finance/Reports/Comprehensive_Annual_Financial/14/ ,

and answer the following questions. Provide page numbers where you found the information. You may copy and paste text from the CAFR. Please submit type-written answers.

Page numbers (1-283) can be found at the bottom of each page of the CAFR document and should be included in the blank provided to the left of each question to reference where your selected answers were located within the CAFR report. Note that the PDF Adobe page numbers (1-294) at the top of the screen will be different from the CAFR page numbers and should not be referenced for purposes of this exercise.

______1. Provide the name and title of the individual responsible for transmitting the CAFR to the Governor, Members of the Legislature, and Citizens of the State of Texas.

______2. Who was the CAFR report transmitted to?

______3. What achievement was awarded for the State of Texas CAFR for the prior fiscal year ended August 31, 2013? Who granted the award and what are the requirements?

______4. Who performed an audit of the financial statements for the State of Texas? For the Independent Auditors Report, what letterhead was the opinion printed on, who signed the audit report, and what was the date of the audit report?

_____5. The audit of the State of Texas financial statements was conducted in accordance with which standards?

______6. What type of audit opinion did the State of Texas receive for the fiscal year ended August 31, 2014? Provide the language included in the opinion paragraph of the audit report.

_____7. The government-wide financial statements are designed to provide the reader with a broad overview of the States finances. What are the names of the government-wide financial statements?

The government-wide financial statements are prepared using the _______ basis of accounting and the _________ measurement focus.

_____ 8. As for other state and local governments, what are the 3 fund categories for the Texass fund financial statements?

_____ 9. Most of the States general activities are reported in governmental funds. Governmental funds are accounted for using the ______ basis of accounting and ________ measurement focus.

_____ 10. The State of Texas maintains two types of Proprietary Funds: enterprise and internal service. The fiscal 2014 financial statements include ______ total enterprise funds, including _____ major fund and _____nonmajor funds.

List the major enterprise fund:

_____ 11. What Required Supplementary Information (RSI) and other supplementary information is included in the TX CAFR report?

_____ 12. What was the total $ amount of the States combined net assets for governmental and business-type activities for the fiscal year 2014?

_____ 13. What were the States two major revenue sources, and what were the $ amounts? Together, they accounted for _______ percent of total revenues.

_____ 14. Expenses reported on the Government-wide financial statements are reported on a functional basis. Name the 10 functional categories of expenses for the States governmental activities and rank them for 2014 in $ amounts from largest to smallest:

_____ 15. The bulk of the States total expenses for fiscal 2014 were related to the health and social services function. What was the $ amount of the expenses for this function, and what % of total primary government expenses do these expenses represent?

_____ 16. What is the chief operating fund of the State, and what was its ending fund balance as of Aug. 31, 2014?