CAFR ANALYSIS PAPER - Book Report/Review Example

Anaheim CAFR First, Middle Initial (s), Last Affiliation Anaheim CAFR Exercise 7 Internal service fund is the capital that accounts for the financing of centrally based activities of the city. There are a number of activities that whose functionality is considered to be administered by the internal service funds. As illustrated and outlined in the report, they comprise of insurance and general benefits, motorized equipments, municipal facility and equipment maintenance, and information and community service (Moreno, 2012).

The activities listed above are some of the governmental functions that depend on the internal service funds. The report has given a transparent and comprehensive outline of how the accounting and financing of the activities is done. It has elaborated how each and every component of the activities is funded. Examples of the activities entail payable salaries and wages, and long term debts that are categorized under liabilities, operation and maintenance activities (Moreno, 2012). The type of accounting used to elaborate the financial oversea of the activities is the combined statement.

In the balance sheet of the net position that depicts information about the internal service fund, the assets have been displayed and classified into current or noncurrent. Yes, allowances for depreciation have been deducted from the related capital accounts. Yes, the current liabilities and the long term debts have been transparently distinguished in the balance sheet. Long term debt is under the current liabilities. The source of the internal service funds is the tax that is paid by the individuals living in a particular region.

Yes, the revenue of each fund exceeds the cost and expenses during the scheduled period. The statement of cash flow has been presented in the internal service funds. In expenses and revenue, the operational activities that are entailed include payment to suppliers, payment for insurance premiums, and salaries and wages. Yes, the funds have been presented in a selected way. The capital activities have been presented separately from the noncapital activities. Yes, there is a section of cash flow in the section of investment.

The enlisted investment activities entail purchasing of the investment security and maturity of the investment security (Moreno, 2012). Yes, there is a column for the government-wide financial statement for its activities. Yes, there is transparent evidence that the internal service funds were merged into the governmental activities because all the governmental operations had been catered for. The funds were collapsed there in order to enhance and expand the governmental activities. The governmental activities administered by the enterprise funds entail investment, inventories, capital assets, and bond payment receivable.

Yes, the government owns and controls its water and electricity utility but does not own and control gas and transportation utility. Yes, the enterprises funds assist in lieu of taxes to support services that enterprises receive. The government utilities are subjected to equal regulations as those owned by investors. The utility funds earn approximately 15% of the returns. Yes, depreciations are taken in the utility plant. The utility funds have accounted for its dept and other construction activities.

The business type activities were profitable to the government. They act as income generating activities. Exercise 8.1 Yes, they have been enlisted in the general funds. This is because the retired employee’s funds have been held for distribution during the entity at which the workers will reach the retirement age. The government operates the tax agency funds. Yes, the government participates in the investment and cash pool. The pool is often operated by the investment trust funds. Private purpose trust funds are operated by the government so as to assist in regulating the foreign financial market policies.

Pension trust funds are operated by the government. The references made by the actuary report are considered to be a financial statement. Yes, the government reports the overfunded and unfunded actuarial accrued liabilities. All he fiduciary funds have been shown in the financial statement. Yes, the financial report has stated the basis of accounting used for agency and trust funds. The increased and decreased nets have been transparently shown in separately from divided income and interest. Depreciation cannot be taken because it may lead to bankruptcy.

ReferencesMoreno, D. A. (2012). City of Anaheim California CAFR. 30th June, 2012. Retrieved from: https://www.sendspace.com/file/lsn4no