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The key question is: based on 2006 and 2007 Broome County CAFR, what does it tell you about the overall financial health of Broome County?
1) Select one aspect of the financial analysis from such aspects as financial position, financial performance, short-term liquidity, long term solvency and financial capacity. Then, calculate two indicators for the aspect that you selected. Please provide the formula used in the calculation to demonstrate your analytical process For example: Financial Position: net assets/total assets= 10M/100M=0.1 or 10% (no direct citation of numbers from other sources. The key is to calculate on your own).
2) Incorporating the previous years' Broome County CAFRs when applicable (not every indicator has historical information, and it is ok), interpret the financial analyses to address the question: what do these analyses tell you about the overall financial condition of Broome County? In essence, it is a longitudinal approach to analyze data. Trend analysis, like the one we had in budget analysis, is preferable. If you happen to have financial data from comparative local governments, please feel free to incorporate these to aid your assessment of the financial health of Broome County. In essence, it is a cross-sectional approach to analyze data.
Reference:
https://www.gobroomecounty.com/legis/annual-county-audit-documents
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