Analyze sources of revenue for selected local government

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Reference no: EM132463728

Assignment - Answer the question using City of Winston-Salem, North Carolina - Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2019.

Questions -

Question 1 - Compare and contrast the Comprehensive Annual Financial Report (CAFR) of the selected local government entity with the government entity identified in the homework. In your comparison, include the following:

1. The publication method of the CAFR; This is for Winston-Salem and Cary.

2. Audit and budget information in the CAFR; This is for Winston-Salem and Cary.

3. The existence or nonexistence of an internal audit function within the government entity. This is for Winston-Salem and Cary.

Question 2 - Analyze the methods used by the selected local government entity in comparing the budget-to-actual reports. Your analysis should include an evaluation of the basis of accounting used for the budget and financial statements. Winston-Salem only.

Question 3 - Analyze the sources of revenue for the selected local government. Your analysis should include information on both governmental and business-type activities of the government. In your report, be sure to examine the following:

1. Property taxes and how they are accounted for; Winston-Salem only.

2. Other sources identified as primary revenue for the entity; Winston-Salem only.

3. Deferred revenue; Winston-Salem only.

4. Year-to-year variations in the tax levels of income; Winston-Salem only.

5. Information about the general fund. Winston-Salem only.

Reference no: EM132463728

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