DES OF ACTIVITY IMMEDIATE PREDECESSORS a 4 5 Draft of legal documents 2 3 4 Preparation of financial statements 3 5 Draft of history 4 8. 9. Draft demand portion of feasibility study 5 4 4 Review and approval of legal documents 1 6. 4 Review and approval of history 3 4. 5 6. Review of feasibility study 4 8 2 4 Draft final financial portion of feasibility study 7 9. 3 4 4 Draft facts relevant to the bond transaction 5 10 1 2 Review and approval of financial statements 11 18 20 26 Receive firm price of project 12 2 Review and completion of financial portion of feasibility study 8 13 1 1 Completion of draft statement 6, 9, 10, 11, 12 14 .10 .14 .16 All material sent to bond rating services 13

Topic Please research an annual comprehensive financial report of any local municipality of your choice that had a general government capital construction project that was financed. Discuss the project and type of financing that the local government used, and opine on the other various financing options that the government could have used. In your opinion, did the local government use the most effective financing option? Why or why not? Note: Please provide a link to the referenced material used. This can be attached as a website link or a document (PDF/Word). Make sure to reference your source (using APA 7th edition).

The Government has decided to offer a grant to all small hotels that have a 100 room capacity or less. The Hotel Mingle's audit programme is currently being prepared by the audit senior.While reviewing the notes from the Finance Director the following issue was noted: Major renovation work was carried out on one section of the building and the company purchased major leisure equipment. The Finance Director has proposed that the new leisure equipment be depreciated over ten years using the straight-line method.   Required: Concerning the issue raised, describe substantive procedures to obtain sufficient and appropriate audit evidence.

Project: The streets and roads maintained by the government have not had an adequate maintenance program. The Public Works Department’s Civil Engineers have recommended the establishment of a dedicated team for the rapid and efficient accomplishment of the repair of potholes and other paving failures. The accomplishment of this recommendation is expected to require the services of a full-time, dedicated crew of four (4) field personnel: one (1) Crew Foreman and three (3) Maintenance Workers. The efforts of this group will be the constant execution of a job-order report from the Public Works Department’s current Road Inventory computer software’s Repair Report List. They will accomplish their scheduled work using an automated asphalt patching system for the repair of potholes in major roadways that will be purchased for this purpose. Purchase price estimated @ $175,000. The purchase price includes training of three (3) individuals in the operation and maintenance of the equipment. The…

A city builds sidewalks throughout its various neighborhoods at a cost of $2.1 million. Which of the following is not true? Because the sidewalks qualify as infrastructure, the asset is viewed in the same way as land so that no depreciation is recorded. Depreciation is required unless the modified approach is utilized. The modified approach recognizes maintenance expense in lieu of depreciation expense for qualifying infrastructure assets. The modified approach is allowed only if the city maintains the network of sidewalks at least at a predetermined condition.

Freitas Corporation was organized early in 2024. The following expenditures were made during the first few months of the year: Attorneys’ fees in connection with the organization of the corporation $ 12,200 State filing fees and other incorporation costs 3,200 Purchase of a patent 20,100 Legal and other fees for transfer of the patent 2,200 Purchase of equipment 30,100 Preopening salaries and employee training 40,100 Total $ 107,900 Required: Prepare a summary journal entry to record the $107,900 in cash expenditures. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Altona City opened a landfill that it elects to account for in an enterprise fund.  At the time the landfill was opened the government estimated total capacity of the landfill to be 5 million cubic feet, useful life to be 20 years, and total closure and postclosure costs to be $18 million.  At the end of Year 1, the government reestimated total closure costs to be $18.3 million and estimated capacity to be same as the original estimate.  At the end of Year 2, the government reestimated total capacity to be 4.8 million cubic feet and total closure costs to be $18.5 million.  At the end of Year 3, the government reestimated useful life to be 17 years but capacity remained unchanged from the preceding year and closure and postclosure costs were estimated to be $18.4 million.  REQUIRED:  Prepare journal entries in the enterprise fund to record the following events. a)During Year 1, the city estimates that 300,000 cubic feet of capacity were used.  Record the landfill expense. b)During…

A capital projects fund would probably not be used for which of the following assets? A. Construction and installation of new shelving in the mayor's office. B, Replacing a bridge. C. Financing and construction of three new fire substations. D. Purchase and installation of an entity-wide integrated computer system.