Cafr Analysis Essay

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CAFR ANALYSIS PRINCE GEORGE’S COUNTY

I have seen many changes growing up in Prince Georges County (PG), a minority-dominated county in Maryland. The government has spent a massive amount of money to revitalize the county. This includes the $250.5 million transformation of Jack Kent Cooke Stadium (now FedEx Field) and the massive $2 billion National Harbor project in Oxon Hill, MD[i]. There are rumors the county plans to rename the crime-infested city of Landover, where I currently live, to Hyattsville, a neighboring city, predicting that this will ease the bad repetition of this area. However, these renovations and changes are only temporary solutions since they are only masking the problems that put my home county deeper in
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DEEP balances for more than one-third of the four special revenue funds available. This program, based on its fund classification, was issued grant money and the permission to use proceeds of seized households because of drug involvement by the state and has been restricted legally to expenditure for specific purpose alone. When looking at the balance sheet, DEEP has 100% of its $6,961,225 within the cash and investment account meaning the account had no notes receivable, no dues from other government units, or no restricted cash investments. Other accounts did not have such constricted assets. Property Management Services (PMS) has notes receivables of $580, 363 and the Domestic Violence (DV) unit has the total amount of $66,401 in notes receivables. DEEP carries no liabilities which include any accounts payable, deferred revenue and deposits. However, the remaining accounts do owe a great sum. PMS has $580,363 in deferred revenue while Collision Center (CC) and DV owes $54,920 in accounts payable and deposits.

When looking at the statement of REC, DEEP has produced various revenues from different sectors of the county and only a few expenditures. DEEP’s fines and forfeitures assessed and restricted by the state have produced $1,786,036. Revenue from interest and dividends by money and property is $242,347 and finally sale of property revenue is $66,679. However, PMS only gained revenue of $43,717 with

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