Description
Go to www.providenceri.com – search for the Finance Department – then search for June 30, 2015 Comprehensive Annual Financial Report (CAFR). (note – the cursor must be on the date for the report to open)
A. Review the Comprehensive Annual Financial Report (CAFR) for the City of Providence and answer the following questions and indicate where in the CAFR the information is found:
1.How many pages is the CAFR?
2.What types of items are included in the CAFR?
3.What are the sources of revenues for the City of Providence? List in descending numerical order.
4.How does the City of Providence spend most of its money? List in descending numerical order
5.What are the significant accounting policies used by the City of Providence?
B. Go to the Annual Report, Consolidated Financial Statements and Federal Form 990 for a charitable organization of your choice and answer the following questions:
1. What are the sources of revenues for Habitat for Humanity? List in descending numerical order.
2.How does Habitat for Humanity spend most of its money? List in descending numerical order.
3.What are the significant accounting policies used by Habitat for Humanity?
4.Briefly comment on the extent of information shown on Federal Form 990. Why
do you believe such information is required? In particular, what is listed in Part VII?
Explanation & Answer
Attached.
Running Head: COMPREHENSIVE ANNUAL FINANCIAL REPORT
Comprehensive Annual Financial Report
The City of Providence and Habitat for Humanity
Name
Instructor
Institutional Affiliation
Date
1
COMPREHESIVE ANNUAL FINANCIAL REPORT
Discussion
Part A
1. How many pages is the CAFR?
For the Fiscal Year ending June 30th, 2017, the CAFR for City of Providence had 133 pages
2. What types of items are included in the CAFR?
The items included in the CAFR were subdivided into three sections namely introductory
sections, financial section, and statistical section each having different items.
Introductory section items:
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•
•
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City Officials
Table of Organization
Letter of Transmittal
Certificate of Achievement for Excellence in Financial Reporting
Financial Section:
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Independent Auditors’ Report
Management’s Discussion and Analysis
• Basic Financial Statements
Statistical Secti...
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