Search (using city of Laredo, texas CAFR ) and download a copy of the most recent comprehensive annual financial report (CAFR) for your assigned city (year 2020). You can find the citys CAFR by doing a Google search. Carefully examine the information in the CAFR, and answer the following questions in adequate details.

1. Governmental Funds. What basis of accounting used for the General Fund? What major types of assets and liabilities are included on the governmental funds balance sheet? Identify which of the major funds, if applicable, are special revenue funds, debt service funds, capital projects funds, and permanent funds? Are you able to determine which funds are considered non-major? (Hint: look for supplementary information.) What fund balance categories are being used? Give examples of different types of restrictions.