A. Government-wide and fund financial statement related questions

1. Government-wide Statement of Net Position:

a. What is the cash balance for governmental activities?

b. What is the total assets balance for governmental activities?

c. What is the total liabilities balance for governmental activities?

d. What are the 3 categories of Net Position? Please describe/discuss each category.

2. Governmental funds Balance sheet:

a. What are the major funds for the City of Greensboro?

b. How does the City of Greensboro determine what is a major fund?

c. List the assets (if any) you find on the City of Greensboro governmental fund Balance

sheet that you will not, most likely, find on for-profit company statements.

d. List the liabilities (if any) you find on the City of Greensboro governmental fund Balance

sheet that you will not, most likely, find on for-profit company statements.

e. Why does the Balance sheet not have an owner's equity section?

f. What does it have in place of an owner's equity section?

g. What is in the fund balance section? Briefly discuss each item.

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