CAFR (part of Governmental)

Question 0

What are the basic FS?

Answer 0

1. Govt wide FS
   
   • accrual
   • NO fiduciary funds
   • DONT display ind funds or fund types
2. Fund FS
3. Notes to FS

Question 1

Major fund determination

Answer 1

10% total of:
  1. Assets & def outflow of resources
  2. Liab & def inflow
   3. Rev
   4. Exp/expend
AND at least 5% of above for all govt & enterprise funds combined 

• NA for internal service fund

Question 2

3 sections of CAFR

Answer 2

1. Intro
2. Financial
3. Statistical - supplementary

Question 3

What are the govt wide FS?

Answer 3

1. Statement of Net Pos

2. Statement of Activities

Question 4

What SCF is required?

Answer 4

Proprietary fund SCF

Direct method for op act

Question 5

What are the fiduciary fund FS?

Answer 5

1. Statement of Net Pos
2. Statement of Changes in Net Pos
   (Not req’d for agency funds)

**remember, NO fiduciary fund FS in basic FS