Questions from Accounting for Government and Non-Profit

Q: Did any of the internal service funds report significant operating surpluses or

Did any of the internal service funds report significant operating surpluses or deficits for the year? Were any accumulated significant net asset balances over the years not invested in capital assets...

Q: Were any of the government’s enterprise funds “profitable” during the

Were any of the government’s enterprise funds “profitable” during the year? If so, what has the government done with the “earnings”? Has it transferred them to the general fund?

Q: Does the government have revenue bonds outstanding that are related to business

Does the government have revenue bonds outstanding that are related to business-type activities? If so, for what activities?

Q: The City on the Lake Convention Center was constructed at a cost

The City on the Lake Convention Center was constructed at a cost of $250 million with the aim of attracting visitors to the area. Taxpayers were assured that the convention center would be self‐suppor...

Q: Do the financial statements include a statement of cash flows for proprietary

Do the financial statements include a statement of cash flows for proprietary funds? Is the statement on a direct or an indirect basis? In how many categories are the cash flows presented? Which of th...

Q: What was the total operating income? What was total net cash

What was the total operating income? What was total net cash provided by operating activities? What accounts for the largest difference between these two amounts?

Q: Has the city entered into any service concession arrangements? Which specific

Has the city entered into any service concession arrangements? Which specific ones, and why?

Q: The Cleveland Historical Society issues $40 million of 6 percent,

The Cleveland Historical Society issues $40 million of 6 percent, 15-year bonds at a price of $36,321,000 to finance the construction of a new museum. The price reflects an annual yield of 7.0 percent...

Q: Did the city increase or decrease its long-term borrowings during

Did the city increase or decrease its long-term borrowings during the year? What was the effect on total long-term liabilities at year end? Explain.

Q: What is the percentage of total net bonded debt to assessed value

What is the percentage of total net bonded debt to assessed value of property? What is the amount of net debt per capita?