e data that follow were drawn from the city of Boulder, Colorado’s CAFR. Dates have been changed. They are from two statistical-section schedules showing the mix of revenue and expenditures for a 10-year period. They include amounts only from the general fund, special revenue funds, and debt service funds. 2020 2021 (amounts in thousands)
e data that follow were drawn from the city of Boulder, Colorado’s CAFR. Dates have been changed. They are from two statistical-section schedules showing the mix of revenue and expenditures for a 10-year period. They include amounts only from the general fund, special revenue funds, and debt service funds. 2020 2021 (amounts in thousands)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Changes in mix of revenues and expenditures must be interpreted with care.
The data that follow were drawn from the city of Boulder, Colorado’s CAFR. Dates have been changed. They are from two statistical-section schedules showing the mix of revenue and expenditures for a 10-year period. They include amounts only from the general fund, special revenue funds, and debt service funds.
2020 | 2021 | |
(amounts in thousands) | ||
Revenues | ||
Sales and use taxes | $ 97,397 | $104,136 |
General property taxes | 29,474 | 29,434 |
Other taxes | 20,278 | 21,184 |
Charges for services | 27,030 | 22,670 |
Intergovernmental | 16,420 | 13,348 |
Proceeds from bonds and notes | 54,830 | |
Other | 20,660 | 21,473 |
Total revenues | $266,089 | $212,245 |
Expenditures | ||
General government and administration | $ 27,717 | $ 30,185 |
Public safety | 47,825 | 48,202 |
Public works | 22,178 | 27,896 |
Housing and human services | 13,384 | 20,226 |
Culture and recreation | 25,677 | 28,089 |
Capital outlay | 29,111 | 19,218 |
Debt service | 13,574 | 16,375 |
Other | 16,425 | 27,180 |
Total expenditures | $195,891 | $217,371 |
- As a consultant for a citizens’ association, you have been asked to determine whether there have been significant changes in the way the city acquires and spends its resources. Prepare a schedule in which you compare the mix of revenues and of expenditures of 2020 with that of 2021. Note and comment on any items that might distort a straightforward comparison of revenues and expenditures.
- Comment on any changes between the two years that you consider significant.
- Expenditures for debt service increased significantly. What are the most likely reasons for the increase? Is it necessarily a sign of increased financial stress?
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