What is the government property tax rate

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Assignment - Review the Comprehensive Annual Financial Report (CAFR) provided and answer the questions below.

Part A -

1. In which section of the Comprehensive Annual Financial Report (CAFR) are the budget-to-actual comparisons of the major funds?

a. Which accounting basis did the City follow to prepare its annual operating budget?

b. Are the actual amounts on a GAAP or a budgetary basis? Do the statements include a reconciliation of any differences between GAAP and budgetary amounts? If so, what are the largest reconciled items?

c. Are the reported variances based on the original budget or the year-end amended budget?

2. Does the CAFR include budget-to-actual comparisons of nonmajor funds? If so, in what section?

Part B -

1. What are the main sources of the government's revenues, including those from both governmental and business-type activities?

2. What is the government's property tax rate?

3. At what percentage of fair market value is real property assessed?

4. When are property taxes due? When do interest and penalties begin to accrue?

Attachment:- Comprehensive Annual Financial Report.rar

Reference no: EM132343334

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