Home Solutions Governmental and Nonprofit Accounting Comprehensive Local Government Project
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Objective and General Requirements: The object of this case is to help you obtain a better understanding of how to use financial and nonfinancial information to assess the current and long-term financial condition of the city of Radford by comparing it to the cities of Harrisonburg and Charlottesville. All three cities have large state universities that do not pay property taxes.
You will use the information provided in Radford City, Harrisonburg and Charlottesville CAFR to assess the current financial position and long-term financial condition or solvency of the city or county. The management discussion and analysis and the statistical section of the CAFR should be used.
Overview: For purposes of this project, financial condition is broadly defined as the ability of a city or county to provide an adequate range of services on a continuing basis. Specifically, it refers to a city’s ability to (1) maintain existing service levels, (2) withstand major economic disruptions, and (3) meet the demands of a changing society in a changing economy.
Assessing Financial Condition:
Read the MD&A for the city of Radford and briefly describe any major changes in the government’s finances identified in the MD&A.
Financial information: Financial information is intended to help the reader understand and assess how the County’s financial position has changed over time. Answer the following for all three governments.
Revenue capacity information Revenue capacity information is intended to help the reader understand and assess the County’s ability to generate its own local revenue source. Use information from the general fund for this section. Answer the following for all three governments.
Expenses information Expenses information is intended to help the reader understand and assess the County’s ability to meet its most significant local expense source. Use the general fund for this section. Answer the following for all three governments.
Debt capacity information Debt capacity information is intended to help the reader understand and assess the affordability of the County’s current levels of outstanding debt and the
County’s ability to issue additional debt in the future. Answer the following for all three governments.
Based on the above analysis, provide a brief summary of your opinion on the financial health of the Radford City.
Your paper should not exceed four typed pages. This does not include any graphs or an appendix. In your analysis, you should compare the Radford City to Harrisonburg and Charlottesville.
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