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Financial Analysis of a Local Government in South Florida - Essay Example
This paper will provide a financial analysis of a local government located in South Florida. The analysis will be provided from the perspective of an outside consultant that has been commissioned by the City Council to evaluate financial conditions of the institution…
Financial analyses' are used by t for local governments and many of the people that make it up. This list includes "mayors, city secretaries, financial department heads and heads of other departments as well as City Council members, who
approve and adopt local government policies." (Whitt Jr.) If done properly a financial analysis will enlighten the above-mentioned parties and others, to the benefits of careful and frugal financial management. The benefits of an analysis will provide departments with improved financial management. According to Reave a financial analysis's s role in modern management of local governments is to
The following table summarizes the major features of the FKEC financial statements, including the portion of the FKEC that these statements include. As well, the rest of this overview section of management's discussion and analysis explains the structure and contents of each of the statements. (Reaves)
the findings of my financial analysis revealed that: Net assets of FKEC activities decreased 2.1 percent to $123.5 million. However, most of those net assets are either restricted as to the purposes they can be used for or they are invested in capital assets. Unrestricted net assets showed a $0.1 million surplus at the end of this year. This surplus does not mean that FKEC has significant resources available to pay its bills next year. ...