Buffalo,NY Cafr research paper

nc_buffalo_cafr_draft_0 x

The deliverable for this assignment is a 7 page paper, font 12, double spaced. This project will detail all information you found or did not find in the budget or the CAFR for the city you have chosen. This includes a cover sheet (1 page) and a reference page (1 page). The objective of this activity is for you to be aware of what is happening in the real world that relates to governmental and not-for-profit accounting and reporting–to make the study of accounting more meaningful, to bridge the gap between theory. It is also intended to provide an opportunity to practice applying what was learned to the real-world. Body of the order should be 5 pages.

RunningHead: STATE OF NEW YORK, BUFFALLO 1

STATE OF NEWYORK, BUFFALLO 4

Buffalo, New York City

Niecy Chimerica

ACC 434 Government and Nonprofit Accounting

National University

Katherine McClellan

June 8, 2011

The Buffalo City is located at the western part of the state of New York. The total area is 42 square miles and has a population of 292,648 people based on the census conducted in the year 2000. The city is the largest in the New York County and the governance offices of the Erie County are situated there .The city is headed by an elected mayor who serves for four years. The council takes care of public property such as town lights, roads and also cleans up the streets. It also provides police protection and fire brigade services for the people.

More than 8,000 employees are served within the medical corridor in the city. The employment mix was noticed to have changed by 33.2%; an increase to the service providing sector and a decrease of 22.3% in the manufacturing sector. The unemployment rate has decreased by 4.7% within the past 10 years. Buffalo has been rated as the 10th best city with a good climate for a family build up. This is however a decline considering that Buffalo was the best city with favorable costs of lining (Roberts, 2010).

The Buffalo City is under a stable financial position given that its total assets exceed its total liabilities. There is a surplus of $243,895 which consists of invested capital, specific purpose and $88,399 pounds of unrestricted assets. The city assets however decreased by $17,276 in the current year. This is in inclusion for both government activities and business type activities. The city reported an ending balance of $236,910 and a total of $49,952 of unreserved funds balance. The city had an outstanding bond debt of $121,120 at the end of the financial year. The largest assets of the city’s assets are reflected by investment in the capital assets. The city uses these assets to provide services to the citizens. There are however some outstanding debts on the acquisition of these assets which include land, building, infrastructure and machinery.

There is an increase of the total current assets by $367,684. Cash and its equivalents increased due to the operations of the city and board of education. Long term liabilities increased by $28,029 in current fiscal year. Government activities decreased the city’s assets by $15,068 giving basis to the city’s decrease in assets. The funding of the city is from taxes, state aid, and intergovernmental sources. The expenditures are incurred in public safety, education, and general government activities. Business type activities decreased the city’s assets by $2,209. The major services provided by the city are construction of infrastructure, maintenance of public goods, and general services by the city to the public.

There are plans of developing the medical corridor to provide more employment for the residents of the city. The city pumps water for its residents and recently, a generator for water pumping was purchased which increased the business assets. The government offers general support to its residents. In this period, a total of $227,798 was allocated for general support. The government supports a police service which provides security to the people. There are healthy and community services provided by the government. Education has not been left behind as some of the government’s first priorities. The solid waste and recycling of the waste of the city is maintained by the government fund. All these services cost a total of $ 51,484.

In conclusion, the state of Buffalo has centered its activities in making the lives for the residents more favorable. The leadership has provided good health care, clean streets, and security among many other services. The public fund has not been mismanaged as the city has covered all its due debts. There is some productivity in its general operations because of the general increase in the assets. The state has shown more interest in creation of more employment for the residents with an attempt to kill unemployment.

Reference

Roberts, W. (2010). A place in history: Albany in the age of revolution, 1775-1825. Albany, N.Y: Excelsior Editions/State University of New York Press.

RunningHead: STATE OF NEW YORK, BUFFALLO 1

STATE OF NEWYORK, BUFFALLO 4

Buffalo, New York City

Niecy Chimerica

ACC 434 Government and Nonprofit Accounting

National University

Katherine McClellan

June 8, 2011

The Buffalo City is located at the western part of the state of New York. The total area is 42 square miles and has a population of 292,648 people based on the census conducted in the year 2000. The city is the largest in the New York County and the governance offices of the Erie County are situated there .The city is headed by an elected mayor who serves for four years. The council takes care of public property such as town lights, roads and also cleans up the streets. It also provides police protection and fire brigade services for the people.

More than 8,000 employees are served within the medical corridor in the city. The employment mix was noticed to have changed by 33.2%; an increase to the service providing sector and a decrease of 22.3% in the manufacturing sector. The unemployment rate has decreased by 4.7% within the past 10 years. Buffalo has been rated as the 10th best city with a good climate for a family build up. This is however a decline considering that Buffalo was the best city with favorable costs of lining (Roberts, 2010).

The Buffalo City is under a stable financial position given that its total assets exceed its total liabilities. There is a surplus of $243,895 which consists of invested capital, specific purpose and $88,399 pounds of unrestricted assets. The city assets however decreased by $17,276 in the current year. This is in inclusion for both government activities and business type activities. The city reported an ending balance of $236,910 and a total of $49,952 of unreserved funds balance. The city had an outstanding bond debt of $121,120 at the end of the financial year. The largest assets of the city’s assets are reflected by investment in the capital assets. The city uses these assets to provide services to the citizens. There are however some outstanding debts on the acquisition of these assets which include land, building, infrastructure and machinery.

There is an increase of the total current assets by $367,684. Cash and its equivalents increased due to the operations of the city and board of education. Long term liabilities increased by $28,029 in current fiscal year. Government activities decreased the city’s assets by $15,068 giving basis to the city’s decrease in assets. The funding of the city is from taxes, state aid, and intergovernmental sources. The expenditures are incurred in public safety, education, and general government activities. Business type activities decreased the city’s assets by $2,209. The major services provided by the city are construction of infrastructure, maintenance of public goods, and general services by the city to the public.

There are plans of developing the medical corridor to provide more employment for the residents of the city. The city pumps water for its residents and recently, a generator for water pumping was purchased which increased the business assets. The government offers general support to its residents. In this period, a total of $227,798 was allocated for general support. The government supports a police service which provides security to the people. There are healthy and community services provided by the government. Education has not been left behind as some of the government’s first priorities. The solid waste and recycling of the waste of the city is maintained by the government fund. All these services cost a total of $ 51,484.

In conclusion, the state of Buffalo has centered its activities in making the lives for the residents more favorable. The leadership has provided good health care, clean streets, and security among many other services. The public fund has not been mismanaged as the city has covered all its due debts. There is some productivity in its general operations because of the general increase in the assets. The state has shown more interest in creation of more employment for the residents with an attempt to kill unemployment.

Reference

Roberts, W. (2010). A place in history: Albany in the age of revolution, 1775-1825. Albany, N.Y: Excelsior Editions/State University of New York Press.