Analysis of Comprehensive Annual Financial Report
Analysis of Comprehensive Annual Financial Report
Table of Content
I. Abstract
II. Introduction
III. Introductory analysis & GFOA Award
IV. Financial Analysis
V. Financial standing
VI. Conclusion
VII. References
Abstract
Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presents a comprehensive picture of the reporting entity’s financial condition, it provides how funds are spent and allocated throughout the year.
Introduction
I will be covering the Carlsbad CAFR for year ended 2011. The Beautiful city of Carlsbad is located along the coast of southern California. Carlsbad is known for its beautiful beaches, and lagoons which cover 1,000 Acres of nature preserves and hiking trails. Its history dates back to 1700, before becoming part of the United States, it was a territory of Spain and then Mexico, the shoreline of Carlsbad’s coastal lagoon was home to the indigenous Luiseno and Diegueños Indians for centuries before the arrival of the Spaniards (City of Carlsbad, n.d.).
The current population of the city is approximately 107,000 residents; total area is 42 Sq. Miles (City of Carlsbad, n.d). The cities top business consists of hospitality, life science, sporting goods and recreation, and telecommunications. The city provides a wide range of services to residents such as; police, fire, infrastructure, and general administration, the CAFR provides detailed information about how these services are funded, and the type of the governmental funds allocated for these services.
The city exhibits accountability and honesty by sharing the CAFR with its residents, in turn this builds trust in the residents toward their city, trust in that their hard earn money is being used in the appropriate services, and these funds are put back in to the
Table of Content
I. Abstract
II. Introduction
III. Introductory analysis & GFOA Award
IV. Financial Analysis
V. Financial standing
VI. Conclusion
VII. References
Abstract
Comprehensive Annual Financial Report (CAFR) is a report used by cities, and local governments to provide the public with their financial records each year, while adhering to government accounting standards board (GASB) guidelines. The report presents a comprehensive picture of the reporting entity’s financial condition, it provides how funds are spent and allocated throughout the year.
Introduction
I will be covering the Carlsbad CAFR for year ended 2011. The Beautiful city of Carlsbad is located along the coast of southern California. Carlsbad is known for its beautiful beaches, and lagoons which cover 1,000 Acres of nature preserves and hiking trails. Its history dates back to 1700, before becoming part of the United States, it was a territory of Spain and then Mexico, the shoreline of Carlsbad’s coastal lagoon was home to the indigenous Luiseno and Diegueños Indians for centuries before the arrival of the Spaniards (City of Carlsbad, n.d.).
The current population of the city is approximately 107,000 residents; total area is 42 Sq. Miles (City of Carlsbad, n.d). The cities top business consists of hospitality, life science, sporting goods and recreation, and telecommunications. The city provides a wide range of services to residents such as; police, fire, infrastructure, and general administration, the CAFR provides detailed information about how these services are funded, and the type of the governmental funds allocated for these services.
The city exhibits accountability and honesty by sharing the CAFR with its residents, in turn this builds trust in the residents toward their city, trust in that their hard earn money is being used in the appropriate services, and these funds are put back in to the
References: 1- The city of Carlsbad CAFR webpage http://www.carlsbadca.gov/services/departments/finance/Documents/2011%20CAFR.pdf 2- Carlsbadistan web page http://www.carlsbadistan.com/?p=5623 3- Accounting for Governmental and Nonprofit Entities(15th edition) 4- APA Reference Guide http://datel200.nu.edu/web/documents/APA.pdf