Bellevue College

Comprehensive Annual Financial Report (CAFR)

Chapter 1 Project: 1-17

Stephanie Jacobson
ACCT 260 – Government & Non-Profit Accounting –
Winter 2023
Instructor: Dr. Alice Jenkins
January 4, 2023
 CAFR 1-17

For this assignment I looked up the comprehensive annual financial report (CAFR) for

the fiscal year 2021 for the city of Tampa, Florida.

a. Introductory section.

The title page and table of contents are separate from the introductory section in

this report, but, like the text mentions, the section includes a letter of transmittal. It

also includes a map of the city of Tampa, statistical information on the city, a

Certificate of Achievement from the Government Finance Officers Association

(GFOA), a City of Tampa organization chart and a page about the city council

members.

b. Financial Section.

1) The financial statements in the report are audited by an independent CPA

from MSL CPAs & Advisors. The audit indicates that the financial statements

were prepared in accordance with GAAP. The city of Tampa has received an

unmodified audit report.

2) The CAFR contains both government-wide financial statements and fund

financial statements. There are a total of twelve financial statements included

in the basic financial statements section, including two government-wide

financial statements and ten fund financial statements.

3) There are twenty-two notes that follow the basic financial statements. There

is a phrase at the bottom of the basic financial statements that says the notes

are an integral part of the financial statements.

 4) The CAFR provides other supplementary information following the notes

to the financial statements. This includes a schedule of receipts and

expenditures of funds related to a settlement, as well as a U.S. classic

courthouse schedule of revenues and expenditures. The section also contains

combining and individual fund statements.

5) The CAFR contains an MD&A. It is on page 27 of the report, under the

financial section. It is right after the individual auditor’s report. It gives an

introduction, overview and an analysis of the Basic Financial Statements. It

includes a description of the government-wide and fund financial statements,

as well as a summary of the city of Tampa’s overall financial position and

results of operations for the fiscal year.

c. Statistical Tables

There is a lot of information shared in this section and they all go back through the

last ten fiscal years. There’s information on fund balances of governmental funds,

assessed and estimated taxable property values, property tax rates, ratios of

outstanding debt, demographic and economic statistics, principal employers,

information on city employees and capital asset statistics.