Note:

I need 1-2 page answer of the following discussion. Must include 1-2 scholarly references. Your answer must be 100% original.

Discussion

Review the Comprehensive annual financial report (CAFR) you obtained and address the following questions.

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

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

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

Textbook:

Granof,M.H.&Khumawala,S.B.(2011). Government and Non-for-profit accounting: Concepts and practices.(5thed.) Hoboken, NJ: Wiley & Sons.