Cafr Analysis—City Of Chicago

1095 words - 5 pages

CAFR Analysis—City of Chicago

The Comprehensive Annual Financial Report I chose to analyze is the CAFR of city of Chicago for the fiscal year ending December 31, 2014. I selected this report because I am quite familiar with this city due to several times travelling and this CAFR provided almost all the information necessary to conduct analysis.
This CAFR is divided into three main sections as follows:
Section 1: Introductory Section (unaudited) – This section includes the Letter of Transmittal, Certificate of Achievement for Excellence in Financial Reporting and a brief chart of how those government departments are organized.
Section 2: Financial Section (audited) – This ...view middle of the document...

In addition, the summary of Chicago government’s net position and activities and comparison between two years , basic information of major funds balances and changes in those funds, capital assets and debt administration, economic factors and next year’s budgets and rate were all stated in this part. By highlighting the key facts happened in 2014 and translating some data into graphs, government facilitated user who are not familiar with financial items to obtain the major information provided by those complicated financial statements without spending large amount of time and efforts.
The first two statements following management discussion and analysis was statement of net position and statement of activities.
Governmental Activities:
Net position of the City’s governmental activities decreased $1,621.0 million to a deficit of $9,043.3 million compared to the $7422.3 million in 2013. According to the MD&A, the increased deficit was primarily due to increased pension costs. The net deficit has $28.7 million in net investment in capital assets, such as buildings, bridges, and $1,492.0 million restricted for specific purposes while having an unrestricted deficit of $10,564.0 million. This deficit will be paid off by issuing governmental bonds and other long-term debts and other revenues earned in future years. Deficit doesn’t mean that Chicago is experiencing financial problems. The deferred inflow of $1,576.3 million showed on the balance sheet as a liability will be recognized in the following years as the commitment being fulfilled.
The total revenues for all governmental activities were $5,729.1 million in 2014, having an increase of $172.8 million, compared to $5,556.3 million in 2013. In the $5,729.1 million, 65% was collected from general programs, such as property tax, other tax and grant contribution for general use while the rest 35% was generated from program revenues, such as licenses, permits, fines and charges to other services, operating grants and contributions and capital grants and contributions for special programs. The revenue increasing is mainly due to the increasing of taxes by $98.8 million.
While the growing of revenues in 2014, expenses rose at the same time. The total expenses for governmental activities in 2014 were $7,350.1 million. Compared to the $7,080.9 in...

Other Essays Like Cafr Analysis—City of Chicago

Analysis of: Roberto Rossellini’s Open City

747 words - 3 pages Analysis of: Roberto Rossellini’s Open City Roberto Rossellini’s Open City, a very powerful film about the Italian Resistance movement against the Nazis during their occupation, was created in the war torn streets of Rome in 1945. Rossellini had little to work with, but with what he had, he created a masterpiece. He used a unique style, in the direction of a documentary, which told a story that is still relevant, even to its viewers

Cafr Hagerstown Accounting for Not-for-Profit Organizations

1894 words - 8 pages large majority of the city’s population is employed by the Washington County Public Schools as well as Meritus Health, which owns the recently constructed hospital. Based upon the most recent CAFR the city of Hagerstown seems to be in relatively great shape financially, leading people to believe that there will be large growth in the future. Introductory Information Throughout the introductory, financial and statistical sections of the most

Reference Page

604 words - 3 pages . Hurley, M. J., & Mitcham, C. (2005). Fire. Fire, 2nd, 768-771. Retrieved from Gale Virtual Reference Library database. This section is all about fire, what it is, what it does, and how it was capapble of devouring a massive city like Chicago in the year of 1871. This journal provided me with the information to explain how the fire was fueled, spread, and nearly unstoppable. The authors are scientists, giving them credibility, and intended

Cisco Systems Selects Everywhere Wireless for Internet Connectivity at the Internet of Things World Forum

600 words - 3 pages Cisco Systems Selects Everywhere Wireless for Internet Connectivity at the Internet of Things World Forum 1888 PressRelease - While the City of Chicago was selected for Cisco's Host City for the 2014 Internet of Things World Forum, Everywhere Wireless was engaged by Cisco to provide Internet connectivity to power the Forum and Wi-Fi infrastructure, which will be installed at the intersection of Michigan Avenue and Wacker Drive, where the

Crime Reduction

2814 words - 12 pages Chicago has been at an all-time low in the last 30 years. However, the amount of violence is still overwhelming. Violence affects the entire community in Chicago, but it is even more disturbing when it starts to affect the youth. The City of Chicago (2014) reported, "In 2010, 1,109 school-aged children were shot, and 216 of those were killed. Nearly half of Chicago's homicide victims are young people between the ages of 10 and 25 and in 2009, 65% of

Social Disorganization Theory

1591 words - 7 pages ) review of crime control in America. Further, the analysis of said readings is applied in the examination of the current phenomenon of homicide in Chicago. Supplemental readings are SDT AND CHICAGO HOMICIDE 2 incorporated in this critique to better make sense of murders in Chicago. Emphasis is made as to the potential common sense solutions to reduce black youth murders in Chicago. Social Disorganization Theory (SDT) Emanating from Chicago

Evaluation essay

1154 words - 5 pages yourself”. Despite the argument to ketchup or not to ketchup, the Chicago style dog is still great hotdog whether it has ketchup or not. In the criteria for condiments, despite the lack of ketchup receives great marks in this section. The Chicago style hot dog is prepared in various ways around the city: grilled, simmered in water, boiled, and microwave; served in a basket or it wrapper with fries on top. There are many ways to serve, but the correct

Al Capone And Probation

1354 words - 6 pages Al Capone is the single greatest symbol of collapse of law and order in the United States during the Prohibition Era. The act of Prohibition brought power to Al Capone, which he used to expand his organized crime activities into a stranglehold over the city of Chicago. Liquor trade became very profitable during Prohibition, and the struggle for control over the bootleg empire erupted into a full-scale war between rival gangs in Chicago. Capone

Chicago Theatre: The History Of And A Short Guide To Experiencing It

1239 words - 5 pages I was first intrigued to write a paper about the Chicago theatre when I was told it was one of the biggest theatre cities in the world. I used to live in the suburbs of Chicago but never really got downtown very often. I honestly had no clue just how big and diverse the theatre scene is in Chicago. You can literally see a different event every week for the rest of your life. Not many cities can make that claim and back it up.I would like to

Persuasive Speech Reflection

690 words - 3 pages I had the topic for this speech chosen since the second or third week of class. Public radio is such a big part of my life and the life of my family that I knew it would be something that I could write passionately about. When I started to prepare this speech, I initially had a hard time finding sources. I was focusing on Chicago Public Media as a whole and that was only bringing up one or two hits other than Chicago Public Media’s

The Analysis of the Symbols of Theodore Dreiser’s Sister Carrie

1831 words - 8 pages us. Carrier is the heroine of Sister Carrier. She was born in a working family of the flour mill, but she dreams of the luxurious life of the big city and leaves her hometown for Chicago, a city full of dreams for happiness, fortune and material comfort. The job she finds at first is too hard for her, and the wages are so low that she has to walk to work. Such a reality proves to be contrary to the beautiful life she dreams of. To make the

Related Papers

City Demographics And Crime Profile Of Chicago

685 words - 3 pages City Demographics and Crime Profile of Chicago AJS 514 October 19, 2015 James L. Smith City Demographics and Crime Profile of Chicago Chicago is a big and beautiful city in the United States, this paper will discuss the cities demographics and analyze a criminal profile. It will include the characterization of the city in terms of social and intellectual context and identify social factors that contribute to crime. A description of

Mcdonald V. City Of Chicago Case Briefing

742 words - 3 pages 1. Case Citation: McDonald v. City of Chicago, 130 S. Ct. 3020 (2010) 2. Facts: * Procedural (history) - what lower courts decided * The U.S. District Court and the U.S. Court of Appeals for the Seventh Circuit affirms, holding that the Second Amendment does not apply to states or localities. * Writ of Certiorari to the United States Court Of Appeals for the Seventh Circuit * Reversed and remanded

Analysis Of "Chicago" By Carl Sandburg

304 words - 2 pages In The Poem "Chicago", the poet Carl Sandburg uses personification, diction, and imagery to show his love and pride for his home city of Chicago. In the first stanza "HOG Butcher for the World, / Tool Maker, Stacker of Wheat, / Player with Railroads and the Nation's Freight Handler; / Stormy, husky, brawling, / City of the Big Shoulders:"(1-5), Sandburg uses personification to tell the reader how important his city is to the rest of the nation

Analysis Of Circuit City Bankruptcy

1122 words - 5 pages year Balance Sheet and Income Statement): • Liquidity Ratios • Asset Management Ratios • Debt Management Ratios • Profitability Ratios • DuPont Analysis • Market Ratios • Some Other Ratios An interpretation of the results is as follows (summarized results in the appendix): • Liquidity ratios have been deteriorating over the last few years. Although they do not pose any imminent danger to Circuit City, but it should be given some