City of Tallahassee General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance (in thousands) Total revenues $109,901 Total expenditures 164,473 Excess of revenues over (under) expenditures -54,572 Other financing sources (uses): Transfers in Transfers out Proceeds from sale of capital assets Total other financing sources (uses) Net change in fund balance Fund balance, October 1, 2019- Fund balance, September 30, 2019 49,597 -21,522 430 28,505 -26,067 29,108 $3,041 a) Calculate the city of Tallahassee's operating margin ratio. (49.66) Assume all transfers in are recurring. Round percentage to two decimals. % b) Included in expenditures is $28 million in costs related to Hurricane Michael. Calculate the operating margin ratio assuming those costs were not incurred. (47.11) % L
City of Tallahassee General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance (in thousands) Total revenues $109,901 Total expenditures 164,473 Excess of revenues over (under) expenditures -54,572 Other financing sources (uses): Transfers in Transfers out Proceeds from sale of capital assets Total other financing sources (uses) Net change in fund balance Fund balance, October 1, 2019- Fund balance, September 30, 2019 49,597 -21,522 430 28,505 -26,067 29,108 $3,041 a) Calculate the city of Tallahassee's operating margin ratio. (49.66) Assume all transfers in are recurring. Round percentage to two decimals. % b) Included in expenditures is $28 million in costs related to Hurricane Michael. Calculate the operating margin ratio assuming those costs were not incurred. (47.11) % L
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![City of Tallahassee
General Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance
(in thousands)
Total revenues
$109,901
Total expenditures
164,473
Excess of revenues over (under) expenditures -54,572
Other financing sources (uses):
Transfers in
Transfers out
Proceeds from sale of capital assets
Total other financing sources (uses)
Net change in fund balance
Fund balance, October 1, 2019-
Fund balance, September 30, 2019
49,597
-21,522
430
28,505
-26,067
29,108
$3,041
a) Calculate the city of Tallahassee's operating margin ratio. (49.66)
Assume all transfers in are recurring. Round percentage to two decimals.
%
b) Included in expenditures is $28 million in costs related to Hurricane
Michael. Calculate the operating margin ratio assuming those costs were not
incurred. (47.11)
%
Assume all transfers in are recurring. Round percentage to two decimals.
A](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3d421ab-371c-4023-8e3a-436308746e1d%2F611d77ba-e847-4029-804b-7d89950f2d38%2Fefi8hd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:City of Tallahassee
General Fund
Statement of Revenues, Expenditures,
and Changes in Fund Balance
(in thousands)
Total revenues
$109,901
Total expenditures
164,473
Excess of revenues over (under) expenditures -54,572
Other financing sources (uses):
Transfers in
Transfers out
Proceeds from sale of capital assets
Total other financing sources (uses)
Net change in fund balance
Fund balance, October 1, 2019-
Fund balance, September 30, 2019
49,597
-21,522
430
28,505
-26,067
29,108
$3,041
a) Calculate the city of Tallahassee's operating margin ratio. (49.66)
Assume all transfers in are recurring. Round percentage to two decimals.
%
b) Included in expenditures is $28 million in costs related to Hurricane
Michael. Calculate the operating margin ratio assuming those costs were not
incurred. (47.11)
%
Assume all transfers in are recurring. Round percentage to two decimals.
A
![Calculate operating margin
Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee,
Florida for the fiscal year ended September 30, 2019:
Assets:
City of Tallahassee
General Fund
Balance Sheet
(in thousands)
Cash and cash equivalents
Due from other governments
All other assets
Total assets
Liabilities:
Total current liabilities
Fund balance:
Nonspendable
Committed
Assigned
$2,480
0
11,848
$14,328
$11,287
1,500
0
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3d421ab-371c-4023-8e3a-436308746e1d%2F611d77ba-e847-4029-804b-7d89950f2d38%2F3eteggf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Calculate operating margin
Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee,
Florida for the fiscal year ended September 30, 2019:
Assets:
City of Tallahassee
General Fund
Balance Sheet
(in thousands)
Cash and cash equivalents
Due from other governments
All other assets
Total assets
Liabilities:
Total current liabilities
Fund balance:
Nonspendable
Committed
Assigned
$2,480
0
11,848
$14,328
$11,287
1,500
0
0
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