Did the government issue additional long‐term debt to support governmental activities during the year?

Please use
the link to answer the questions only. The assignment requires you to
download a CAFR from a local state or municipality. We will all use
the same
CAFR for this assignment. Please
download the 2020 Comprehensive
Annual Financial Report for the Town of Cary, North Carolina. I
have picked the Town of Cary because their population is over 100,000 and
it is not excessively large, so the CAFR is a reasonable size.
Click on the link below and then select – 2020 Comprehensive Annual
Financial Report. Download to your computer as we will use this for each of our continuing
problems each week.
https://www.townofcary.org/home/showpublisheddocument?id=25355

Chapter 6
Review
the Comprehensive Annual Financial Report (CAFR) that you have obtained.
1. How many
capital projects funds does the government maintain? How can you tell? Are any
of these major funds? If so, for what purposes are they maintained?
2. How many
debt service funds does the government maintain? How can you tell? Are any of
these major funds? If so, for what types of obligations are they maintained?
3. How are
the capital projects and debt service funds reported in the government‐wide statement of net
position?
4. Select
one of the more recently established (and larger) capital projects funds (a
major fund, if there is one).
5. From
where did the fund receive most of its resources?
6. Did the
city acquire or construct new capital assets using resources of this fund? If
so, in what amount?
Chapter 8
Review
the Comprehensive Annual Financial Report (CAFR) that you have obtained.
1. How many
capital projects funds does the government maintain? How can you tell? Are any
of these major funds? If so, for what purposes are they maintained?
2. How many
debt service funds does the government maintain? How can you tell? Are any of
these major funds? If so, for what types of obligations are they maintained?
3. How are
the capital projects and debt service funds reported in the government‐wide statement of net
position?
4. Select
one of the more recently established (and larger) capital projects funds (a
major fund, if there is one).
5. From
where did the fund receive most of its resources?
6. Did the
city acquire or construct new capital assets using resources of this fund? If
so, in what amount?
7. Does this
fund have any long‐term
debts associated with it? If so, does the government maintain a debt service
fund to account for the resources to service the debt?
8. Did the
government issue additional long‐term debt to support governmental activities during the year? Did
it repay any long‐term debt
used to support governmental activities? Did it engage in any in‐substance defeasances?

Last Completed Projects