Review the 2020 Arkansas Comprehensive Annual Financial Report (CAFR) to answer the following questions Indicate the activities accounted for in both internal service funds and major enterprise funds Comment on whether any of these activities could also have been accounted for in a general or other governmental fund How are the internal service fund activities reported in the government wide statement of net position How are they reported in the proprietary funds statements of net position Did any of the internal service funds report significant operating surpluses or deficits for the year Were any accumulated significant net asset balances over the years not invested in capital assets Were any of 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 Does the government have revenue bonds outstanding that are related to business type activities If so, for what activities Do the financial statements include a statement of cash flows for proprietary funds Is the statement on a direct or an indirect basis In how many categories are the cash flows presented Which of these categories resulted in net cash inflows Which resulted in net cash outflows What was the total operating income What was total net cash provided by operating activities What accounts for the largest difference between these two amounts Has the city entered into any service concession arrangements Which specific ones, and why Does the government maintain any permanent funds If so, are they major or nonmajor funds and for what purposes Does the government maintain any fiduciary funds If so, for what purposes Does the government contribute to one or more pension plans Are they defined benefit or defined contribution plans If they are defined benefit plans, are they single employer (maintained by the government itself) or multiple employer plans Does the government report pension expenses or expenditures If so, in which fund or funds Does the government report pension liabilities If so, in which fund or funds Does the CAFR indicate the actuarial value of plan assets and liabilities Are the plans over or underfunded Does the CAFR include the financial statements of the pension plans Does it indicate that the pension plans issue their own reports and that these are publicly available Did the pension fund investments have a good year Does the CAFR indicate that the government provides other postemployment benefits If so, what is the nature of these benefits How are they reported Does the government maintain any custodial funds How many and for what purposes

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Review the 2020 Arkansas Comprehensive Annual Financial Report (CAFR) to answer the following questions: Indicate the activities accounted for in both internal service funds and

Review the 2020 Arkansas Comprehensive Annual Financial Report (CAFR) to answer the following questions:

Indicate the activities accounted for in both internal service funds and major enterprise funds. Comment on whether any of these activities could also have been accounted for in a general or other governmental fund.
How are the internal service fund activities reported in the government-wide statement of net position? How are they reported in the proprietary funds statements of net position?
Did any of the internal service funds report significant operating surpluses or deficits for the year? Were any accumulated significant net asset balances over the years not invested in capital assets?
Were any of 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?
Does the government have revenue bonds outstanding that are related to business-type activities? If so, for what activities?
Do the financial statements include a statement of cash flows for proprietary funds? Is the statement on a direct or an indirect basis? In how many categories are the cash flows presented? Which of these categories resulted in net cash inflows? Which resulted in net cash outflows?
What was the total operating income? What was total net cash provided by operating activities? What accounts for the largest difference between these two amounts?
Has the city entered into any service concession arrangements? Which specific ones, and why?
Does the government maintain any permanent funds? If so, are they major or nonmajor funds and for what purposes?
Does the government maintain any fiduciary funds? If so, for what purposes?
Does the government contribute to one or more pension plans? Are they defined benefit or defined contribution plans? If they are defined benefit plans, are they single employer (maintained by the government itself) or multiple-employer plans?
Does the government report pension expenses or expenditures? If so, in which fund or funds?
Does the government report pension liabilities? If so, in which fund or funds?
Does the CAFR indicate the actuarial value of plan assets and liabilities? Are the plans over or underfunded?
Does the CAFR include the financial statements of the pension plans? Does it indicate that the pension plans issue their own reports and that these are publicly available?
Did the pension fund investments have a good year?
Does the CAFR indicate that the government provides other postemployment benefits? If so, what is the nature of these benefits? How are they reported?
Does the government maintain any custodial funds? How many and for what purposes?