Write a three- to five-page paper in which you do the following:
- Compare and contrast the Comprehensive Annual Financial Report (CAFR) of the selected local government entity with the government entity identified in the Week 1 homework. In your comparison, include the following:
- The publication method of the CAFR;
- Audit and budget information in the CAFR;
- The type of audit report issued; and
- The existence or nonexistence of an internal audit function within the government entity.
- Prepare the analysis for the selected local government entity, including information on the introduction, and financial section.
- Analyze the methods used by the selected local government entity in comparing the budget-to-actual reports. Your analysis should include an evaluation of the basis of accounting used for the budget and financial statements.
- Analyze the sources of revenue for the selected local government. Your analysis should include information on both governmental and business-type activities of the government. In your report, be sure to examine the following:
- Property taxes and how they are accounted for;
- Other sources identified as primary revenue for the entity;
- Deferred revenue;
- Year-to-year variations in the tax levels of income;
- Various management discussion and analysis items of note; and
- Information about the general fund.
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