Sacramento CAFR
Sacramento, California – For fiscal year 2013-2014
Analysis of CAFR for Acct 640M
Kory Lee
April, 2015
The city of Sacramento, California is one of the frontier towns in the state of California. Established in 1848 after the construction of a confluence and named after the river on its western front, Sacramento became one of the first major cities in California. Residents of the city enjoy a high quality of life with slightly lower than the national average level of unemployment at 7.5% and local businesses within the city have shown a nice increase of sales and per capita spending. This is helping revitalize the economy of the city. Sacramento is the capital city for the state of California. As the capital, the city is under a level of scrutiny that other cities of similar size and population do not see. In review, Sacramento has a combination of appropriate spending controls, fee and tax level adjustments, and reserves for future emergencies. Based on the CAFR, the city ended the fiscal year of 2013/2014 with a structured total assets increase of 3.6% (a dollar value of approximately $89 million) over the same fiscal time period the year previously. The accounting division of Sacramento has received multiple Certificates of Achievement for Excellence in Financial Reporting over the years, showing a high level of fiscal responsibility as well as the basis for true accountability to the people.
Part 1: CAFR Analysis Sacramento can be seen as a full-service city. They prepare the regular, annually mandated called the Comprehensive Annual Financial Report (CAFR). The CAFR is divided into separate, specific categories of information, joined together under the following sectional headings: * Introductory Section * Financial Section * Statistical Section As the Introductory Section starts off this report, a review of it’s basic structure and how it
Analysis of CAFR for Acct 640M
Kory Lee
April, 2015
The city of Sacramento, California is one of the frontier towns in the state of California. Established in 1848 after the construction of a confluence and named after the river on its western front, Sacramento became one of the first major cities in California. Residents of the city enjoy a high quality of life with slightly lower than the national average level of unemployment at 7.5% and local businesses within the city have shown a nice increase of sales and per capita spending. This is helping revitalize the economy of the city. Sacramento is the capital city for the state of California. As the capital, the city is under a level of scrutiny that other cities of similar size and population do not see. In review, Sacramento has a combination of appropriate spending controls, fee and tax level adjustments, and reserves for future emergencies. Based on the CAFR, the city ended the fiscal year of 2013/2014 with a structured total assets increase of 3.6% (a dollar value of approximately $89 million) over the same fiscal time period the year previously. The accounting division of Sacramento has received multiple Certificates of Achievement for Excellence in Financial Reporting over the years, showing a high level of fiscal responsibility as well as the basis for true accountability to the people.
Part 1: CAFR Analysis Sacramento can be seen as a full-service city. They prepare the regular, annually mandated called the Comprehensive Annual Financial Report (CAFR). The CAFR is divided into separate, specific categories of information, joined together under the following sectional headings: * Introductory Section * Financial Section * Statistical Section As the Introductory Section starts off this report, a review of it’s basic structure and how it