Case study Essay

2095 Words Feb 21st, 2014 9 Pages
ACCT560
Government and Not-for-Profit Accounting
Spring 2014

Project #1
CAFR
Due Wednesday, February 5, 2014 at 5:30pm EST

Objective:
To examine a Comprehensive Annual Financial Report (CAFR) for Montgomery County, Maryland (A neighboring county located near American University).

Deliverable:
Turn in a hardcopy of your answers by the due date (See the Required: section for more details). Late submissions are heavily penalized or may not be accepted.
Required:
You must work individually.
Examine the CAFR for Montgomery County, Maryland for the fiscal year ending June 30, 2013. Provide concise responses to each question and cite where you derived your answer from (See below for more specific details):

For each of the
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The primary purpose of BUPI is to execute service contracts for the benefit of one of the Primary Government's special taxing districts (Bethesda
Urban District). Substantially all of BUPI’s funding is granted through the Primary Government's operating budget. The County Council annually approves the BUPI operating budget and is able to modify it in a manner similar to the way Primary Government agency budgets are modified.
Complete financial statements can be obtained at the component units’ administrative offices listed below:
Montgomery County Public Schools Montgomery College Montgomery County Revenue Authority
850 Hungerford Drive 900 Hungerford Drive 101 Monroe Street, 4th Floor
Rockville, MD 20850 Rockville, MD 20850 Rockville, MD 20850
Housing Opportunities Commission Bethesda Urban Partnership, Inc. of Montgomery County, Maryland 7700 Old Georgetown Road
10400 Detrick Avenue Bethesda, MD 20814
Kensington, MD 20895-2484

9. What is a “Certificate of Achievement for Excellence in Financial Reporting?” Who awards the certificate?
The Certificate of Achievement is a prestigious national award recognizing conformance with the highest standards for preparation of state and local government financial reports. In order to be awarded a Certific ate of
Achievement, a government must publish an easily readable and efficiently organized CAFR. This report must satisfy both generally accepted

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