Find the 2016 Basic Financial Report for the City of Maumee

Find the 2016 Basic Financial Report for the City of Maumee before you begin this assignment.

Go to www.maumee.org
Click on the \"City Departments\" green button on the left side of the page.

Select \"Finance\" from the list on the left and then “Annual Report” from the drop down box.
Click on \"2016 Basic Financial Report\" under the Current Reports Heading on the right.

QUESTION 1

Fiscal accountability can best be assessed by which of these financial statements?

Statement of Revenues, Expenditures and Changes in Fund Balance--Governmental Funds

Statement of Revenues, Expenses and Changes in Fund Net Position--Proprietary Funds

Statement of Net Position--Proprietary Funds

Statement of Activities

QUESTION 2

Reporting of Maumee\'s fiduciary activities occurs:

Only in the fund statements.

Waterville has no fiduciary activities.

Only in the government-wide statements

Both in the government-wide statements and in the fund statements.

QUESTION 3

Where would a capital asset such as a police car would be reported?

In the General Fund Balance Sheet.

Governmental fund capital assets are not reported.

In a proprietary fund Statement of Net Position.

In the governmental activities in the government-wide statement of Net Position.

  

QUESTION 4

Determine if the General Fund exhibits interperiod equity.

The Statement Revenues, Expenditures and Changes in Fund Balances shows the General Fund DOES NOT exhibit interperiod equity.

The Balance Sheet--Governmental Funds shows the General Fund DOES NOT exhibit interperiod equity.

The Statement Revenues, Expenditures and Changes in Fund Balances shows the General Fund DOES exhibit interperiod equity.

The Balance Sheet--Governmental Funds shows the General Fund DOES exhibit interperiod equity.

QUESTION 5

How may of the governmental funds are designated as major funds?

One

Two

Three

Four

QUESTION 6

The city does NOT have which of these types of fund balances in its General Fund: (check all that apply)

Assigned

Committed

Nonspendable

Unassigned

Restricted

QUESTION 7

1.     The City of Maumee is what type of entity?

Operational Government

Not for Profit Government

General Purpose Government

Special Purpose Government

		Statement of Revenues, Expenditures and Changes in Fund Balance--Governmental Funds
		Statement of Revenues, Expenses and Changes in Fund Net Position--Proprietary Funds
		Statement of Net Position--Proprietary Funds
		Statement of Activities

Solution

QUESTION 1

Fiscal accountability can best be assessed by which of these financial statements?

Answer: Statement of Revenues, Expenditures and Changes in Fund Balance--Governmental Funds, is the correct answer.

QUESTION 2

Reporting of Maumee\'s fiduciary activities occurs:

Answer: Waterville has no fiduciary activities. It is reported in \"Statement of fiduciary net position\".

QUESTION 3

Where would a capital asset such as a police car would be reported?

Answer: In the governmental activities in the government-wide statement of Net Position.

QUESTION 5

How may of the governmental funds are designated as major funds?

Answer:Two

QUESTION 6

The city does NOT have which of these types of fund balances in its General Fund: (check all that apply)

Answer: All of the options are correct.

Assigned

Committed

Nonspendable

Unassigned

Restricted

Assigned
		Committed
		Nonspendable
		Unassigned
		Restricted