12 May WHAT CHALLENGES DOES THE CITY FACE BASED ON A REVIEW OF THE MANAGEMENT, DISCUSSION, AND ANALYSIS?
For Fauquier County CAFR Review -analyze the governmental entity its
challenges and performance. Your analysis must include, but should not be
limited to the issues raised below. The student is required to assess the
governmental entitys performance do not repeat what is in the MD&A but
present in your own words a discussion of your assessment of the entitys
performance, using information in the CAFR and other analyses you perform to
support your conclusions. (You can see the example of assignment B example
(Culpeper County) to have an idea for assignment A.) To answer the questions,
please go to the link below for Fauquier County website(CAFR 2012)
.fauquiercounty.gov/government/departments/Finance/index.cfm?action=table_of_contents2012″>http://www.fauquiercounty.gov/government/departments/Finance/index.cfm?action=table_of_contents2012
1.What challenges does the city face based on a review of the
Management, Discussion, and Analysis?
2. What are specific key performance (operating or
financial) metrics used to gauge performance
of city services? Do you agree these are good metrics to use? Why or why not?
3. Identify the Bond Rating of the reporting
entity? What is the
economic outlook and financial challenges for the city?
4. Determine the following ratios, discuss and analyze
the city’s performance accordingly: 1) long-term debt vs. total assets, 2) debt
service payments from the bond and interest fund vs. governmental expenditures,
and 3) amount of general obligation bonds outstanding vs. population.
B. What suggestions would you make for the Culpeper County CAFR
(Below) if you were hired by the Mayor as a consultant?Your responses must further the discussion do not just agree or
disagree with the original poster (Culpeper County). Using the information
provided by the original poster and what you learned from your own analysis,
support your position. Your discussion must include at
least 7 financial ratios (identify,
calculate, and explain why you chose them) and several factors from each of the areas – environmental,
organizational, and financial. You must include an overall summary of your
conclusions.
v Culpeper County CAFR Review Example
1.
What
challenges does the city face based on a review of the Management, Discussion,
and Analysis?
According to the Management
Discussion and Analysis, Culpeper County does not seem to be facing many
challenges. As of June 30, 2012, the Countys assets exceeded their liabilities
by $88 million. Culpeper County has about $23 million in the unassigned fund
balance. The County seems to be in better financial position than in 2008,
where it had to make spending cuts and freeze hiring. The County has planned to
increase wages for FY 2013 as well add 3 new positions.
2.
What
are specific key performance (operating or financial) metrics used to gauge
performance of city services?
Some of the economic indicators used by the County are:Population,
School enrollment, Unemployment rate, Personal income, Per capita personal
income
Some of the Operating
indicators used are: Sheriff – Physical arrest, Traffic violations, Fire
Protection Number of stations, Community development residential building
permits
Parks and recreations:Number of
parks and recreation facilities, Number of libraries
Do you agree these
are good metrics to use? Why or why not?
I think these are good metrics
to use, because the Countys overall health and position can be based on its
unemployment rate. Additionally, the county is able to compare the number of
public service resources it provides and the increase or decrease over time.
The County bases its employment decisions based on public safety and public
service needs. The County can use the populations statistics coupled with the
operating indicators to identify if they are over or understaffed based on the
population and number of incidents.
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