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Financial Analysis of a Local Government in South Florida - Essay Example

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This paper will provide a financial analysis of a local government in South Florida. The analysis will be discussed from the perspective of an outside consultant that has been commissioned by the City Council to evaluate financial conditions of the institution. …
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Financial Analysis of a Local Government in South Florida
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Financial Analysis of a Local Government in South Florida

Download file to see previous pages... the findings of my financial analysis revealed that: Net assets of FKEC activities decreased 2.1 percent to $123.5 million. However, most of those net assets are either restricted as to the purposes they can be used for or they are invested in capital assets. Unrestricted net assets showed a $0.1 million surplus at the end of this year. This surplus does not mean that FKEC has significant resources available to pay its bills next year. (Monroe County 2003) Rather, it is the result of having long-term commitments that are a little less than currently available resources. The surplus balance has remained similar to the prior year. Specifically, FKEC did not include in past annual budgets the full amounts needed to finance future liabilities arising from various claims and to pay for unused employee vacation and sick days. FKEC will include these amounts in future years' budgets as they come due. (Monroe County
Although the net assets of our business-type activities increased by 3.5 percent to $85.6 million, these resources cannot be used in governmental activities. FKEC generally can only use these net assets to finance the continuing operations of its business activities such as food service.

Changes in net assets. FKEC’s total revenues increased by 3.9 percent to $114.3 million. (See below)A significant portion, 49 percent of FKEC's revenue comes from taxes. (See below Twenty-five percent comes from state allocations, and most of the rest is from federal and state grants. ...Download file to see next pagesRead More
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