ACC 640 ACC. Theory & Policy Formulation

All the instruction is mention in the attachment. Make only 4 powerpoint slides by only using link mention in the attachment.

I have attached picture for you for better understanding. Page 1 Includes information and Page 2: 2023 Budget, you only need to work on Page 4, 5, 6, 7 should look like the given example

Group Assignment
Each group must submit their assignment by 10:00 a.m., Monday, November 11, 2024.
Financial reporting is the communication of financial information to stakeholders. All state and
local municipalities are accountable to their constituents/citizens. Accordingly, financial reports
(Budget, ACFR) are prepared to share the financial operations of the state or local municipality.
However, for many individuals without an accounting background these long reports can be
overwhelming & confusing. For example, Naperville, Illinois’s 2023 Budget is 476 pages and
the city’s 2023 ACFR is 210 pages.
In order to assist citizens in understanding the financial position and financial plans for the future
some state and local municipalities are preparing Citizen Centric Reports (CCR). CCR’s simply
the presentation of information to interested stakeholders. Your role is to simply the information
in the Budget & ACFR for a municipality to share the essential information to share with
citizens.
Directions: Each group will prepare a Citizen Centric Report for the city of Naperville,
Illinois comparing the 2023 budget to the 2023 actual financial results. The goal of this report is
to communicate the most important/critical financial information so citizens can understand the
financial position for Naperville, Illinois.
The source of information should be the 2023 ACFR & the 2023 Budget.
https://www.naperville.il.us/government/city-finances/annual-budget-and-financial-report/
What is a Citizen Centric Report?
Citizen-Centric Reports (CCR) are annual “state of the government” documents. The report is
designed to provide information to citizens in an easy-to-read, understandable format about
the financial condition and the performance of government over the past year. The goal is that
citizens should have a clear understanding of the financial condition of the state/local
government after reviewing the CCR.
1
Required: Prepare a visually appealing CCR that will include (at a minimum):
Page 1: Includes information about the state or local government —location, services and
activities, strategic goals, demographics, etc.
Page 2: 2023 Budget: What are the financial principles that Naperville uses to develop the
budget? Compare the total budgeted revenues to the total budgeted expenses (government
wide). Is the budgeted net position expected to increase/decrease?
Page 3: 2023 ACFR: Government Wide: Include actual revenue, expense/change in net
position information. In addition to charts/graphs/tables include a written summary of
actual fiscal 2023 performance compared to 2023 budget. (remember that some of the 2023
budget information is also located in the 2023 ACFR)
Page 4: 2023 ACFR: Governmental Funds Include actual revenue, expenditures, change
in fund balance information. In addition to charts/graphs/tables include a written summary
of actual fiscal 2023 performance compared to 2023 budget. (remember that some of the
2023 budget information is also located in the 2023 ACFR)
Page 5: Proprietary Funds: What are the 2 major proprietary enterprise funds? Include
actual revenue, expense, change in net position, cash flow information. In addition to
charts/graphs/tables include a written summary of actual fiscal 2023 performance compared
to 2023 budget. (remember that some of the 2023 budget information is also located in the
2023 ACFR)
Page 6: Interesting financial & nonfinancial facts/trends about Naperville
Page 7: Overall conclusion regarding Naperville’s 2023 financial performance.
2
Links to sample CCR’s: (Note: These examples are 4 pages with different content while this
assignment requires 7 pages and an analysis of the budget vs. actual performance. These
examples are for the purpose of providing some visual examples/templates)
•
State of Tennessee
https://www.agacgfm.org/getattachment/Standards/CCR/Completed/GovernmentEntities/
TN_FY23_CCR-FINAL.pdf.aspx?lang=en-US
•
Chattanooga, TN:
https://www.agacgfm.org/getattachment/Standards/CCR/CaseChallenge/AuburnUniversity-CCR.pdf.aspx?lang=en-US
Norfolk, VA
https://www.agacgfm.org/getattachment/Standards/CCR/Completed/GovernmentEntities/
FY23-Citizen-Centric-Report.pdf.aspx?lang=en-US
•
Montgomery, AL
https://www.agacgfm.org/getattachment/MyAGA/BoardsCommittees/AccountabilityCom
mittee/FINALCCR_G_UNC_2.pdf.aspx?lang=en-US
•
Lawton, OK
https://www.agacgfm.org/getattachment/Standards/CCR/Completed/GovernmentEntities/
City-of-Lawton-CCR-2022.pdf.aspx?lang=en-US
3
ACC 640 ACC. Theory & Policy Formulation
Group Assignment
Financial reporting is the communication of financial information to stakeholders. All state and
local municipalities are accountable to their constituents/citizens. Accordingly, financial reports
(Budget, ACFR) are prepared to share the financial operations of the state or local municipality.
However, for many individuals without an accounting background these long reports can be
overwhelming & confusing. For example, Naperville, Illinois’s 2023 Budget is 476 pages and
the city’s 2023 ACFR is 210 pages.
In order to assist citizens in understanding the financial position and financial plans for the future
some state and local municipalities are preparing Citizen Centric Reports (CCR). CCR’s simply
the presentation of information to interested stakeholders. Your role is to simply the information
in the Budget & ACFR for a municipality to share the essential information to share with
citizens.
Directions: Each group will prepare a Citizen Centric Report for the city of Naperville,
Illinois comparing the 2023 budget to the 2023 actual financial results. The goal of this report is
to communicate the most important/critical financial information so citizens can understand the
financial position for Naperville, Illinois.
The source of information should be the 2023 ACFR & the 2023 Budget.
https://www.naperville.il.us/government/city-finances/annual-budget-and-financial-report/
(do not use any other source)
What is a Citizen Centric Report?
Citizen-Centric Reports (CCR) are annual “state of the government” documents. The report is
designed to provide information to citizens in an easy-to-read, understandable format about
the financial condition and the performance of government over the past year. The goal is that
citizens should have a clear understanding of the financial condition of the state/local
government after reviewing the CCR.
1
Required: Prepare a visually appealing CCR that will include (at a minimum):
Page 1: Includes information about the state or local government —location, services and
activities, strategic goals, demographics, etc.
Page 2: 2023 Budget: What are the financial principles that Naperville uses to develop the
budget? Compare the total budgeted revenues to the total budgeted expenses (government
wide). Is the budgeted net position expected to increase/decrease?
Page 3: 2023 ACFR: Government Wide: Include actual revenue, expense/change in net
position information. In addition to charts/graphs/tables include a written summary of
actual fiscal 2023 performance compared to 2023 budget. (remember that some of the 2023
budget information is also located in the 2023 ACFR)
Page 4: 2023 ACFR: Governmental Funds Include actual revenue, expenditures, change
in fund balance information. In addition to charts/graphs/tables include a written summary
of actual fiscal 2023 performance compared to 2023 budget. (remember that some of the
2023 budget information is also located in the 2023 ACFR)
Page 5: Proprietary Funds: What are the 2 major proprietary enterprise funds? Include
actual revenue, expense, change in net position, cash flow information. In addition to
charts/graphs/tables include a written summary of actual fiscal 2023 performance compared
to 2023 budget. (remember that some of the 2023 budget information is also located in the
2023 ACFR)
Page 6: Interesting financial & nonfinancial facts/trends about Naperville
Page 7: Overall conclusion regarding Naperville’s 2023 financial performance.
Make only Power Point Slides, for this assignment 4 slides should be included. (Slide 1- page 4,
Slide 2 – Page 5, Slide 3- Page 6, Slide 4 – page 7 [write overall conclusion for 4,5,6 on slide 4])
–
You do not have to write paper
2
Links to sample CCR’s: (Note: These examples are 4 pages with different content while this
assignment requires 7 pages and an analysis of the budget vs. actual performance. These
examples are for the purpose of providing some visual examples/templates)
•
State of Tennessee
https://www.agacgfm.org/getattachment/Standards/CCR/Completed/GovernmentEntities/
TN_FY23_CCR-FINAL.pdf.aspx?lang=en-US
•
Chattanooga, TN:
https://www.agacgfm.org/getattachment/Standards/CCR/CaseChallenge/AuburnUniversity-CCR.pdf.aspx?lang=en-US
Norfolk, VA
https://www.agacgfm.org/getattachment/Standards/CCR/Completed/GovernmentEntities/
FY23-Citizen-Centric-Report.pdf.aspx?lang=en-US
•
Montgomery, AL
https://www.agacgfm.org/getattachment/MyAGA/BoardsCommittees/AccountabilityCom
mittee/FINALCCR_G_UNC_2.pdf.aspx?lang=en-US
•
Lawton, OK
https://www.agacgfm.org/getattachment/Standards/CCR/Completed/GovernmentEntities/
City-of-Lawton-CCR-2022.pdf.aspx?lang=en-US
3