Which of the following pairs of accounts are used in computing a citys budgetary cushion?

Select one:

a. cash and restricted fund balance

b. cash and investments

c. unassigned fund balance and assigned fund balance

d. quick assets and taxes receivable

Current guidance suggests that a reasonable budgetary cushion intended to enable local governments to weather economic contractions and unforeseen emergency needs should fall within which of these ranges, as a percentage of General Fund revenues and transfers in?

Select one:

a. 30%36%

b. 0%6%

c. 10%16%

d. 20%26%

When calculating a governments operating margin, which of the following transactions is most likely to cause the analyst to consider reducing the numerator (net change in fund balance), assuming the dollar amount is significant?

Select one:

a. a routine transfer out to the Debt Service Fund

b. proceeds from the sale of the governments parking facilities to a private entity

c. a recurring transfer in from the Lottery Fund

d. payment of the entitys pension contribution to the Pension Fund, based on the actuarys determination

Overlapping debt is which of the following?

Select one:

a. debt sold by a public authority on behalf of a primary government

b. the portion of total debt issued by a government that is due in future years

c. the proportionate share of debt issued by other governmental units that provide services to the citizens of the government

d. general obligation debt sold to finance the capital assets of Enterprise Funds

What does the funded ratio measure?

Select one:

a. the portion of the total pension liability that is covered by the fiduciary net position

b. the portion of the current years tax levy that was collected during the year

c. the portion of the outstanding debt that has been set aside in a debt service reserve fund

d. the portion of the outstanding debt that is scheduled to be paid off in the next 10 years

Historically, at what level should the funded ratio of a pension plan be in order for the plan to be considered reasonably funded?

Select one:

a. 60 percent

b. 50 percent

c. 100 percent

d. 80 percent

Which of the following is considered an asset in computing the quick ratio?

Select one:

a. Certificates of deposit purchased with an original maturity of 30 days

b. Supplies inventory

c. Investments in long-term bonds

d. Prepaid insurance

What is the basic purpose of calculating the number of days cash on hand?

Select one:

a. To determine whether cash should be invested in certificates of deposit

b. To determine how much cash and certificates of deposit should be placed in a rainy day fund

c. To determine the speed with which property taxes are collected

d. To determine how long the cash and short-term investments will be available to pay forthcoming expenditures