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Presentation/PPT
27/08/2022
Use this CAFR ANSWER QUESTIONIn addition – you will need to enter the page number where you found the answer. By that I mean the page numbers located in the right or left corners in the actual report (pdf file), not in your web browser https://www.denvergov.org/content/dam/denvergov/Portals/344/documents/CAFR/Report_CAFR_2017.pdf
A) Reporting of Capital Assets.
1- Are capital assets reported as a line-item in the government-wide statement of net position? Are nondepreciable capital assets reported on a separate line from depreciable capital assets, or are they separately reported in the notes to the financial statements? Do the notes include capital asset disclosures, such as those for the City and County of Denver shown in Illustration 5-2? Does the disclosure show beginning balances, increases and decreases, and ending balances for each major class of capital assets, as well as the same information for accumulated depreciation for each major class? Are these disclosures presented separately for the capital assets of governmental activities, business type activities, and discretely presented component units? Do the notes specify capitalization thresholds for all capital assets, including infrastructure? Do the notes show the amounts of depreciation expense assigned to each major function or program for governmental activities at the government-wide level? Are the depreciation policies and estimated lives of major classes of depreciable assets disclosed? Do the notes include the entity’s policies regarding capitalization of collections of works of art and historical treasures? If collections are capitalized, are they depreciated?
(2)Reporting of Leased Assets. Are accounting policies disclosed for assets acquired with lease financing? Is this disclosure separate from other capital assets? Is a general description of leasing arrangements provided? Do the notes show the total amount of lease assets and the related accumulated amortization, lease assets by major classes of underlying assets, and the amount of outflows of resources recognized for the period for variable lease payments not previously included in the lease liability? Do the notes disclose principal and interest requirements to maturity, presented separately, for the lease liability for each of the five subsequent fiscal years and in five-year increments thereafter? Has the government reported commitments under leases that have not yet begun? (Note that the new lease standards are effective for reporting periods beginning after December 15, 2019, so the financial statements that you select may not include these items for leased assets.)
B- Capital Projects Funds:
(1)Title and Content. What title is given to the funds that function as capital projects funds, as described in this chapter? (Street Improvement Funds and Capital Improvement Funds are common titles, although these titles also are often used for special revenue funds that account for ongoing annual maintenance of roadways.) Where does the report state the basis of accounting used for capital projects funds? Is the basis used Page 202consistent with GASB standards discussed in this chapter? Are there separate capital projects funds for each project or several funds that account for related projects, or is only one fund used for all projects?
(2)Statements and Schedules. What statements and schedules pertaining to capital projects funds are presented? In what respects (headings, arrangement, items included, etc.) do they differ when compared to statements illustrated or described in the text? Are any differences merely a matter of terminology or arrangement, or do they represent significant deviations from GASB accounting and reporting standards for capital projects funds?
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