CAFR Analysis

Topics: Pension, Tax, Balance sheet Pages: 3 (1832 words) Published: November 2, 2014
I have seen many changes growing up in Prince Georges County (PG), a minority-dominated county in Maryland. The government has spent a massive amount of money to revitalize the county. This includes the 250.5 million transformation of Jack Kent Cooke Stadium (now FedEx Field) and the massive 2 billion National Harbor project in Oxon Hill, MD. There are rumors the county plans to rename the crime-infested city of Landover, where I currently live, to Hyattsville, a neighboring city, predicting that this will ease the bad repetition of this area. However, these renovations and changes are only temporary solutions since they are only masking the problems that put my home county deeper in debt. Crime and drug trafficking is still on the rise. People are still losing their homes and debt is at an all-time high. The permission of choosing my CAFR allowed digging deeper into this growing problem by discovering who regulates drug and crime programs, the debt position, and other municipals relating to the well-being of my hometown. In this paper, I will address the crisis relating to a nonmajor governmental fund program designed to aid in the decline of crime and drugs and the recent trend relating to pension debt and the tax debt of the general, agency and enterprise fund. The drug and education program are vital in PG based on four fund comparisons on two statements. According to PG CAFR in the Combining Statement of Balance Sheet- Nonmajor Governmental Funds (balance sheet) and the Combined Statement of Revenue, Expenditures and Changes in Fund Balances-Non Government Fund (Statement of REC), the county had total assets of 6, 961, 225 and total revenue of 2, 095, 042, which ultimately provide the Drug Enforcement and Education Program (DEEP) a staggering figure of 9,056,267. DEEP proceeds come from the forfeiture or sale of property seized enforcing county drug laws. This financed some of the cost of the countys drug enforcement and education programs. DEEP...
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