Format And Content Of The CAFR

Question 1

Two statements of Government Wide Financial Statements

Answer 1

Statement of Net Position

Statement of Activities

Question 2

Statement of Net Position

Answer 2

Includes a government wide balance sheet, it’s on the accrual basis and has 2 separate columns:
Governmental activities and business activities (does NOT include fiduciary funds)
Net position is the last part of this statement

Question 3

Statement of Activities

Answer 3

This includes a government wide statement of operations. It’s prepared on the accrual basis

Includes:
Program expenses
Program revenues
Net program (expense) or revenue
General revenues

Governmental activities and business type activities are separated on the statement. It does NOT include fiduciary funds either- those are funds being held in custodial capacity, so they aren’t resources for the government’s use.

Question 4

Measurement focus for the government wide financial statements

Answer 4

Economic resources focus. The government wide statements are prepared on the accrual basis, which reflects the economic resources measurement focus.