| Student Name: |
| Student Name: |
| Group Project: |
| State of California Comprehensive Annual Report For the Fiscal Year Ended June 30, 2016 (CA 2016 CAFR). |
| Source: |
| https://www.sco.ca.gov/Files-ARD/CAFR/cafr16web.pdf |
| Question 1 |
| Ms Betty T. Lee was the California State Controller who prepared the State of California Comprehensive Annual Report For the Fiscal Year Ended June 30, 2016. |
| The CA 2016 CAFR reported that the State Governor was Mr. Edmund G. Brown, Jr., and the State Treasurer was Mr. John Chiang. |
| Califronia CAFR Fiscal Year ended at June 30,2016. |
| Question 2 |
| Yes, page viii of the Introduction Section of the CA 2016 CAFR mentioned that “The Government Finance Officers Association of the United States and Canada (GFOA) |
| awarded a Certificate of Achievement for Excellence in Financial Reporting to the State of California for its comprehensive annual financial report for the fiscal year ended June 30, 2015.” |
| [Page vii to viii of the Introduction Section] |
| Question 3 |
| | | | Primary Government |
| | | Government Activities | Business-type Activities | Total | Component Units |
| Total Assets | | 205,311,505 | 35,074,864 | 240,386,369 | 78,591,326 |
| Deferred Outflows of Resources | | 7,725,585 | 1,328,282 | 9,053,867 | 5,657,571 |
| Total assets and outflows of Resources | | 213,037,090 | 36,403,146 | 249,440,236 | 84,248,897 |
| Total Liabilities | | 242,672,740 | 30,745,793 | 273,418,533 | 60,497,596 |
| Deferred Inflows of Resources | | 5,249,323 | 1,084,851 | 6,334,174 | 1,781,557 |
| Total liabilities and deferred inflows of resources | | 247,922,063 | 31,830,644 | 279,752,707 | 62,279,153 |
| [Page 30 and 31 Basic Financial Statements/Government-Wide Finacial Statements/Statement of Net Positions] |
| Question 4 |
| | | | Primary Government |
| | | Government Activities | Business-type Activities | Total | Component Units |
| Net investment in capital assets | | 104,596,917 | 2,520,621 | 107,117,538 | 13,358,197 |
| Restricted Non expendable endowments | | 0 | 8,653 | 8,653 | 5,927,327 |
| Restricted Total expendable | | 29,060,971 | 5,750,634 | 34,811,605 | 13,108,468 |
| Unrestricted | | (168,542,861) | (3,707,406) | (172,250,267) | (10,424,248) |
| Total net position | | (34,884,973) | 4,572,502 | (30,312,471) | 21,969,744 |
| Total liabilities and deferred inflows of resources, and net position | | 213,037,090 | 36,403,146 | 249,440,236 | 84,248,897 |
| [Page 31 and 32 Basic Financial Statements/Government-Wide Finacial Statements/Statement of Net Positions] |
| Question 5 |
| The Government-Wide Financial Statements had three columns representing three types of state programs and activities : governmental activities, business-type activities, and component units. |
| "Component units are organizations that are legally separate from the State , but are at the same time related to the State financailly or the nature of their relationship with the State is so |
| significant that their exclusion will cause the State's financial statements to be misleading or incomplete." |
| [page 7 of the Management Discussion Section] |
| Question 6 |
| | | Program Revenues | Program Revenues | Program Revenues | Net (Expenses) Revenues |
| Functions Programs Primary Government | Expenses | Charges for Services | Operating Grants and Contribution | Capital Grants and Contribution | Government Activities |
| Government Activities: Education | 65,467,497 | 66,298 | 6,888,076 | 0 | (58,513,123) |
| Government Activities: Transportation | 12,120,820 | 4,532,300 | 3,866,244 | 1,480,351 | (2,241,925) |
| | | Program Revenues | Program Revenues | Program Revenues | Net (Expenses) Revenues |
| Functions Programs Primary Government | Expenses | Charges for Services | Operating Grants and Contribution | Capital Grants and Contribution | Business Activities |
| Business-type Activities Unemployment Program/Insurance | 11,458,966 | 13,866,028 | 0 | 0 | 2,407,062 |
| [Page 34 Basic Financial Statements/Government-Wide Finacial Statements/Statement of Activities] |
| Question 7 |
| | | Primary Government |
| | Government Activities | Business-type Activities | Total | Component Units |
| Net (Expenses) Revenue | (130,196,803) | 318,022 | (129,878,781) | (5,289,301) |
| Total General Revenues and Transfers | 137,705,648 | 2,800,101 | 140,505,749 | 3,214,287 |
| Changes in net position | 7,508,845 | 3,118,123 | 10,626,968 | (2,075,014) |
| Net Position beginning | (42,393,818) | 1,454,379 | (40,939,439) | 24,044,758 |
| Prior Adjustment if applicable |
| Net Position beginning | (34,884,973) | 4,572,502 | (30,312,471) | 21,969,744 |
| [Page 34 Basic Financial Statements/Government-Wide Finacial Statements/Statement of Activities] |
| Question 8 |
| General, Federal, Transportation, Environmental and Natural Resources, Nonmajor Governmental, Total |
| [Page 38 Fund Financial Statements, Balance Sheets of Governmental Funds] |
| Question 9 |
| | Total |
| Total Assets | 82,275,298 |
| Total Liabilities and deferred inflows of resources | 51,351,153 |
| Fund Balances |
| Nonspendable | 87,127 |
| Restricted | 28,930,077 |
| Committed | 5,720,580 |
| Assigned | 14,622 |
| Unassigned | (3,828,261.00) |
| Total fund balances | 30,924,145 |
| Total Liabilities, deferred inflows of resources and fund balances | 82,275,298 |
| [Page 38 Fund Financial Statements, Balance Sheets of Governmental Funds] |
| Question 10 to Question 12 |
| Please try yourself |
whiterose2015
SampleAnswertoCA2016CAFRGroupProject.xlsx
