Assume the following information was obtained from the comprehensive annual financial report of the city...

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Accounting

Assume the following information was obtained from the comprehensive annual financial report of the city of Tampa, Florida for a recent fiscal year. All amounts are in thousands.

Condensed General Fund balance sheet: Debt service expenditures
Total assets $141,494 in governmental funds
Total liabilities $24,086 Principal $13,851
Fund balance $117,408 Interest $10,882
Cash and investments Total $24,733
included in assets $126,647 Debt service principal maturities
Components of General Fund fund balance: 2,020 $13,919
Nonspendable $302 2,021 23,203
Committed 718 2,022 24,975
Assigned 27,450 2,023 32,222
Unassigned 88,938 2,024 65,940
Total $117,408 2025-2029 134,124
Total revenues: 2030-2034 90,706
Property taxes $144,439 2035-2044 19,319
Utility charges 40,254 2045-2054 13,829
State aid 46,920 Total $418,237
Charges for services 51,730 Pension data:
Other 73,956 General employees:
Total $357,299 Pension liability $740,783
Transfers in Plan fiduciary net position $677,218
Recurring $25,082 Fire and Police
Property taxes: Pension liability $1,925,460
Tax levy $151,421 Plan fiduciary net position $1,779,355
Tax collected in year of levy $143,980

Other information: 1. All liabilities are current. 2. Assigned funds are all for intended uses, but no formal action taken to commit. 3. Transfers in are virtually all recurring payments in lieu of taxes and franchise fees. 4. Governmental activities debt services includes notes payable of $53,899 thousand. Calculate the following ratios: Budgetary cushion Answer

% Debt Service Burden Answer

% % of principal paid back in 5 years Answer

% % of principal paid back in 10 years Answer

% Quick ratio Answer

Property tax collection rate Answer

% Pension benefit burdens: General Answer

% Fire and Police Answer

%

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