Review City of Fremont year ended June 30, 2022 Comprehensive Annual Financial Report (CAFR) 1. What is the amount of net debt per capita? The citys legal debt margin? The amount of direct and overlapping debt? 2. Component units a. Does the notes to the financial statements indicate the component units that are included within the reporting entity? Do they indicate any units that are not included? Do they explain why these units are included or excluded? If so, describe them in your own words. its presented in the government-wide financial statements? In the fund statements? Part II Budget 1. In which section of the CAFR are the budget-to-actual comparisons of the major funds? a. Are the actual amounts on a GAAP or a budgetary basis? Do the statements include a reconciliation of any differences between GAAP and budgetary amounts? If so, what are the largest reconciled items? b. Are the reported variances based on the original budget or the year-end amended budget? 2. Does the CAFR include budget-to-actual comparisons of nonmajor funds? If so, in what sections? Part III Governmental Funds 1. What are the main sources of the governments revenues, including those from both governmental and business-type activities? 2. Does the report discuss the accounting basis for recognizing revenues for governmental funds? If so, describe in your own words. 3. Does the governments government-wide statement of net position or governmental-fund balance sheet report deferred revenue? (or deferred inflows of resources)? If so, what is the most likely reason this revenue has been deferred? 4. What is the total fund balance in the general fund? Can this amount be appropriated and spent for any purpose? Explain. 5. What are the major differences in expenditures/expenses (i.e., reconciling items) as they are reported in the governmental fund and the government-wide statements? 6. To and from which funds or component units have there been general fund transfers? 7. What types of other financing sources and uses does the governmental entity report in the general fund? What effect do these items have on the net change in fund balance for the year? 8. Did the government capitalized infrastructure assets acquired during the year? Did it account for infrastructure assets using the standard or modified approach? Part IV Proprietary Funds ( 1. How are the internal service fund activities reported in the government-wide statement of net position? How are they reported in the proprietary funds statement of net position? 2. Were any if the governments enterprise funds profitable during the year? If so, what has the government done with the earnings? Has it transferred them to the general fund? 3. Do the financial statements include a statement of cash flows for proprietary funds? In how many categories are the cash flows presented? Is the statement on a direct or indirect basis?