The document provides instructions to review and analyze the 2009 Comprehensive Annual Financial Report (CARF) from Cedar Rapids, Iowa. It includes 11 questions asking the reader to: 1) Explain how Cedar Rapids follows the GASB Statement No. 34 and create an outline; 2) Describe 2 or more significant areas addressed in the management discussion and analysis section; 3) Describe the accounting policies utilized by the city from the notes of the financial statements. It also asks the reader to analyze funds and budgets listed in the CARF and define infrastructure assets held by Cedar Rapids.

1. Key Assignment Draft
Review the
Comprehensive Annual Financial Report
(CARF) for 2009 from the city of Cedar Rapids, Iowa, and
answer the following questions.
Explain how Cedar Rapids follows the Government Accounting
Standards Board (GASB) Statement No. 34. Create a brief
outline that showcases the flow.
Read the management discussion and analysis (MD&A) section
and describe 2 or more significant areas that were addressed by
management.
From the notes of the financial statements, describe which
accounting policies are being utilized by the city.
What did you discover in the statistical section?
How is the city doing?
Provide an analysis.
Examine the funds listed under the budget on page 67 and
discuss how they are being utilized by Cedar Rapids. Include
some examples of items that would be included in these funds
and any restrictions that might apply.
By looking at the 2012 budget that is located in the government
index on the far left of the page, choose 2 different funds and
discuss how they are being utilized by Cedar Rapids. Include
some examples of items that would be included in these funds
and any restrictions that might apply.
Define and give examples of the infrastructure assets that are
held by Cedar Rapids.
Describe the circumstances, and provide the journal entries for
the 2 entries that are going in to the general fund.
For example, 1 entry goes into the debt service fund and 1 goes
into the capital projects fund.
Please submit your assignment.
Reference
Comprehensive annual financial report (CARF)
. (2010). Retrieved from http://www.cedar-

2. rapids.org/government/departments/finance/finaccialreportingin
formation/pages/fy10cafr.aspx