The deliverable for this assignment is a 7 page paper, font 12, double spaced. This project will detail all information you found or did not find in the budget or the CAFR for the city you have chosen. This includes a cover sheet (1 page) and a reference page (1 page). The objective of this activity is for you to be aware of what is happening in the real world that relates to governmental and not-for-profit accounting and reporting–to make the study of accounting more meaningful, to bridge the gap between theory. It is also intended to provide an opportunity to practice applying what was learned to the real-world.
Body of the order should be 5 pages.
Buffalo, New York City Niecy Chimerica ACC 434 Government and Nonprofit Accounting National University Katherine McClellan June 8, 2011 The Buffalo City is located at the western part of the state of New York. The total area is 42 square miles and has a population of 292,648 people based on the census conducted in the year 2000. The city is the largest in the New York County and the governance offices of the Erie County are situated there .The city is headed by an elected mayor who serves for four years. The council takes care of public property such as town lights, roads and also cleans up the streets. It also provides police protection and fire brigade services for the people. More than 8,000 employees are served within the medical corridor in the city. The employment mix was noticed to have changed by 33.2%; an increase to the service providing sector and a decrease of 22.3% in the manufacturing sector. The unemployment rate has decreased by 4.7% within the past 10 years. Buffalo has been rated as the 10th best city with a good climate for a family build up. This is however a decline considering that Buffalo was the best city with favorable costs of lining (Roberts, 2010). The Buffalo City is under a stable financial position given that its total assets exceed its total liabilities. There is a surplus of $243,895 which consists of invested capital, specific purpose and $88,399 pounds of unrestricted assets. The city assets however decreased by $17,276 in the current year. This is in inclusion for both government activities and business type activities. The city reported an ending balance of $236,910 and a total of $49,952 of unreserved funds balance. The city had an outstanding bond debt of $121,120 at the end of the financial year. The largest assets of the city’s assets are reflected by investment in the capital assets. The city uses these assets to provide services to the citizens. There are however some outstanding debts on the acquisition of…
Attachments:
buffalo_cafr_….docx