Review the http://www.cedarfalls.com/DocumentCenter/View/3037 (CAFR) for 2013 from the city of Cedar
Falls, Iowa, and answer the following questions.
Explain how Cedar Falls follows the Government Accounting Standards Board (GASB) Statement No. 34.
Create a brief outline that showcases the flow.
Read the management discussion and analysis (MD&A) section on page 18 and describe 2 or more
significant areas that were addressed by management.
From the notes of the financial statements starting on page 46, describe which accounting policies are
being utilized by the city.
What did you discover in the statistical section?
How is the city doing?
Provide an analysis.
Examine the funds listed under the budget on page 37 and discuss how they are being utilized by Cedar
Falls. Include some examples of items that would be included in these funds and any restrictions that might
apply.
By looking at the budget starting on page 81, choose 2 different funds and discuss how they are being
utilized by Cedar Falls. Include some examples of items that would be included in these funds and any
restrictions that might apply.
Define and give examples of the infrastructure assets that are held by Cedar Falls.
Describe the circumstances, and provide the journal entries for the 2 entries that are going in to the
general fund.
For example, 1 entry goes into the debt service fund and 1 goes into the capital projects fund.
Sample Solution