The city functions under and is administrated by the State of California’s laws and its own Charter, as periodically modified since its acceptance by the electorate in 1931 (CAFR 24). The weather of San Diego County is portrayed by mild winters with most of the annual rainfall between November to March and warm and dry summers. It is known for its natural deep water harbor, long relationship with the U.S. navy, mild year-round climate, extensive beaches, and latest emergence as a biotechnology and healthcare development center. Most people who visit the county head to the wild animal park, San Diego zoo, sea world or Lego land. The national, regional and international economic condition has badly affected San Diego County’s City services and revenue. It has also exaggerated the health of the business community. In this tough economic environment, the City of San Diego has effectively balanced its annual budget and also implemented them on time i.e. by June 30 each year. This paper will provide an analysis of the Comprehensive Annual Financial Report (CAFR) of San Diego County and the city also meet the Governmental Accounting Standard Board (GASB) 34 requirements because the Comprehensive Annual Financial Report has been prepared in conformance with the standards and principles for reporting as set forth by GASB 34. Governmental Accounting Standard Board (GASB) With the implementation of the GASB 34, the financial reporting model for local and state governments has been changed. The financial statements under GASB 34 must include: Management Discussion and Analysis (MD&A); Government wide Statements involving Statement of Activities; Statement of Net Assets; Fund Statements; Notes to Financial Statements and Required Supplementary Information which includes the budgetary comparison. The CAFR of San Diego County meets the GASB 34 requirements as it is prepared in conformance with the standards and principles for reporting as required in GASB 34. The CAFR of the City also contains MD&A, Statement of Net Assets; Statement of Activities; Fund Statements; Notes to Financial Statements and Required Supplementary Information which includes the budgetary comparison of General Funds. The objective of the City’s CAFR is to provide with the financial statement which is of material misstatement. It maintains the accuracy of data; and fairness and completeness of the presentation. In addition, the City is keeping on to progress a complete internal control over the framework of financial reporting to ascertain satisfactory management of taxpayer funds (CAFR 22). According to GASB 34 and 51, in the government wide statements; all major assets are capitalized by the City of San Diego. Capital assets of both proprietary and governmental funds are utilized at the government wide level and proprietary assets are accounted at the fund level (CAFR 41). 2011 2010 With the execution of GASB 54, there was a considerable reclassification between Unrestricted and Restricted Net Assets. Restricted Net Assets resulted in an increase of $949,227 i.e. by $376,845 and Unrestricted Net Assets goes down by $394,573 (CAFR 36). The statistical section provides information as required by GASB 44. In addition to the financial sta
Finance and Accounting Research Paper on San Diego County Introduction San Diego County was incorporated in 1850 and is situated in the United States (U.S.), state of California. In the 48 adjacent U.S. states, it is the most southwestern county. As on January 1, 2011, it was estimated that the population of the city was 1,311,882, thus making San Diego County the second most heavily populated county in California…
The author claims that the frequency of earthquake occurrences in the different counties in South California serve as reminder of the existing and active faultiness that could easily pose tragedies to those who are not ready. These movements of faultiness are almost always felt in the San Diego county.
There was a need to refurbish the city’s convention center in order to host the event. Instead of raising taxes or even issuing bonds to raise fund that would facilitate the rehabilitation, the officials in San Diego are said to have dipped into the pension funds of the city for the money.
Introduction a) Boehringer Ingelheim Corporation Boehringer Ingelheim is a German corporation, which focuses on manufacturing pharmaceutical products in different countries around the world (Bohlander & Snell, 2009). Moreover, this company applies their innovativeness in offering value to their employees, customers and the society; in fact, this company is dedicated to selling over-counter drugs and prescription.
There is a reflection of basic geologic difference between the 3 regions of this geomorphic division with the plutonic rocks metasedimentary and Mesozoic metavolcanic predominating in the Peninsular Ranges, and Cenozoic sedimentary rocks primarily predominating to the east and west of the central mountain range.
This essay gives information about the Museum of Contemporary Art San Diego. The MCASD boasts for more than 4000 artworks after the 1950s that encourages works from all kinds of artists: from unknown, emerging, and even famous artists in international art communities. The artworks were varied with genres ranging from drawings.
Indeed, San Francisco has emerged as a hub for tourists from around the world today, hosting many annual events and programs throughout the year. Its national heritage in the historical context as well as
In this regard, most societies hold the opinion that individuals who grow up with autonomy-thwarting parents have lower chances of exploring their sexual values and identities and therefore disregard social aspects that
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