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Calculate operating margin Assume the following information was derived from the fund financial statements prepared...

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Accounting

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Calculate operating margin Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30 , 2019: City of Tallahassee General Fund Balance Sheet (in thousands) Assets: \begin{tabular}{|l|r|} \hline Cash and cash equivalents & $2,480 \\ \hline Due from other governments & 0 \\ \hline All other assets & 11,848 \\ \hline Total assets & $14,328 \\ \hline \hline Liabilities: & \\ \hline Total current liabilities & $11,287 \\ \hline Fund balance: & \\ \hline Nonspendable & 1,500 \\ \hline Committed & 0 \\ \hline Assigned & 0 \\ \hline Unassigned & 1,541 \\ \hline Total fund balance & 3,041 \\ \hline Total liabilities and fund balance & $14,328 \\ \hline \hline \end{tabular} a) Calculate the city of Tallahassee's operating margin ratio. \% Assume all transfers in are recurring. Round percentage to two decimals. b) Included in expenditures is $28 million in costs related to Hurricane Michael. Calculate the operating margin ratio assuming those costs were not incurred. 1% Assume all transfers in are recurring. Round percentage to two decimals

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