1. Locate a 10-K of your choice from the SEC (www.sec.gov ) or from the company web site (SEC Annual Filing – 10-K). GENERAL MOTORS
2. The company you select should have segments and references to noncontrolling interest in the SEC 10-K.
3. Explore the concepts of our chapter and notice how your company presents related information including segments
4. Prepare a report on disclosure issues related to the segment and noncontrolling interest information in the SEC 10-K.
5. Your deliverable should be two - four pages in length, single-spaced, with double spacing between paragraphs. Use one inch margins. Font should be 10 - 12 points. Use headings related to topics in our class.
6. Page count does not include copy and paste text or displays (such as a balance sheet).
Project 2: CAFR and NFP (SANTA CLARA)(CALIFORNIA ACADEMY OF SCIENCIES)
1. Select a CAFR from a municipality in your area. SANTA CLARA
2. Select an NFP entity and the related IRS form 990 (CALIFORNIA ACADEMY OF SCIENCIES).
3. The www.foundationcenter.org web site will be helpful to locate the most recently available form 990.
4. Write a three to four page paper on the CAFR and a separate three to four page paper on the NFP. Relate topics from our textbook to your entity. Our discussion postings should assist you in completing your deliverables. The CAFR is your main resource for your government entity and the form 990 is the resource for your NFP. Consider too the concept of a Citizens' Centric Report (CCR). Refer to www.agacgfm.org for information on the CCR. A CCR is a 4 page document summarizing information and creating a presentation for citizens and other stakeholders.
5. Prepare an eight slide Power Point presentation or create a Citizen Centric Report (CCR: templates and guidance at www.agacgfm.org ) based on each paper to post in our discussion in week 8 for discussion and comments.
This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.Project 2: CAFR
This CAFR project examines the comprehensive annual financial report for the County of Santa Clara, State of California for the fiscal year ended June 30, 2014. The County of Santa Clara (“the County”) covers an area of 1,316 square miles and is located at the southern part of the San Francisco Bay. The County named after Mission Santa Clara was established by an act of State legislation in 1850. Over the last two decades the County has grown steadily with its population having increased by 25% in that period. According to population census, the County had a population of 1.9 million people as of mid-2014, which represents 5% of the States total population. Over 95% of the County’s population live in its 15 incorporated cities. The County operates under a Home Rule Charter, and has a County Board of Supervisor (“the Board”) that is responsible for legislation and policy making (County of Santa Clara, 2014).
2.0 Relevant financial policies
The County treats any unassigned General Fund balance at the end of the fiscal year as a one-time source of funding. These funds are channelled towards one-time expenditure needs, but are sometimes used for reorganization activities upon the recommendation of the Board. The Board examines contingency reserves every year, and budgets for the same in the General Fund. The state of contingency funds tends to reflect the economic environment. These funds are used for one-time expenditures arising from unanticipated reduction in grants and aid, economic recession or depression, natural disasters, unbudgeted lease expenses, critical program initiatives and other unforeseen events. With regard to capital project financing, the County has a capital improvement plan (CIP) aimed at identifying project funding plans. . The County uses straight-line depreciation and the useful lives of assets differ from one asset class to another. Infrastructure has a useful life of 20-50 years, equipment and vehicles a3-30 years and buildings and improvements 5-50 years (County of Santa Clara, 2014).
With regard to debt management, the County’s policy specifies objectives and parameters for debt issuance and administration, and is reviewed annually. The County mainly focuses its efforts on issuance of short-term debt aimed at covering cyclical cash flow needs as well as long-term debt for major capital expenditures. Based on the County’s cash position in the 2014 fiscal year, there was no need for issuance of tax and revenue anticipation bonds unlike previous years where the County needed such bonds to fund operations pending collection of tax and other revenues. The County’s pooled cash deposits are governed by the County’s investment policy as well as the California Government Code, and the County periodically reviews its investment policy. Adherence to the policies and statutes are monitored through monthly audits and reports. The County’s cash management policy primarily aims to safeguard principal, maintain liquidity and attainment of a market rate of return while taking cash flow requirements and risk constraints into account (County of Santa Clara, 2014).
3.0 Basis of accounting