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Running Head: CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Financial Statements
CONSOLIDATED FINANCIAL STATEMENTS
Consolidated financial statements are the financial statements of a company and its
subsidiaries. They present a look at the financial position of a company and its subsidiaries
(Higgins, 1995). CDC’s financial operations are audited after the end of a financial year as a part
of the HHS financial statement audit. From the 2003 fiscal year, the financial statements of CDC
have been consolidated into the financial reports of Health and Human services. The center for
disease control is a health protection agency that works 24/7 to provide information through
research that protects the nation from health threats. This paper focuses on the vertical analysis
of the consolidated financial analysis of the CDC for the 2018 financial year.
The budget for the CDC is drawn and approved by the U.S. department of health and
human services. In the financial year 2018, the total for the programs dollars in millions is
11,059. This is a decrease from the previous year which had a total of 12,096 dollars in millions.
The margin between the two years is a considerable one. The 2018 fiscal year budget for CDC
was added together with the budget for the Agency for toxic substances and disease registry and
was $11.1 billion. This was a decrease from the year 2017 by $1.0 billion. Figure 1.0 shows the
budget overview of CDC for the financial year 2018 in millions.
Total program level.
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