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Obtain a copy of the Comprehensive Annual Financial Report(CAFR) for the State of Texas for the Fiscal Year Ended August 31,2014 from the Texas Department of Finance and Administrationwebsite -http://www.texastransparency.org/State_Finance/Budget_Finance/Reports/Comprehensive_Annual_Financial/14/,

and answer the following questions. Provide page numbers whereyou found the information. You may copy and paste text from theCAFR. Please submit type-written answers.

Page numbers (1-283) can be found at the bottom of eachpage of the CAFR document and should be included in theblank provided to the left of each question to reference where yourselected answers were located within the CAFR report. Note thatthe PDF Adobe page numbers (1-294) at the top of the screen will bedifferent from the CAFR page numbers and should not be referencedfor purposes of this exercise.

_____ 26. Capital assets, excluding land and construction inprogress, are depreciated using the straight-line method over theestimated service lives of the respective assets. Estimated servicelives include the following:

______________Software

______________ Buildings and buildingimprovements

______________ Facilities and Otherimprovements

______________ Furniture andequipment

______________ Other CapitalAssets

______________ Land UseRights-Term

______________Vehicles

______________ Infrastructure

______________ Other Intangible Capital Assets

_____ 27. As of August 31, 2014, what was the net $ amount ofamounts held in trust for Individuals, Organizations, and othergovernments?

_____ 28. In the statistical section-operating information, howmany tax returns were processed in 2013? How may licenses wereissued?

_____ 29. For the Optional Retirement Program, what are thecontribution rates for the State and Plan members?

_____ 30. Included in RSI is a Budgetary Comparison Schedule ofbudget to actual results for all budgetary funds. What is thelargest expenditure item included on the schedule, and what is thefinal budget $ amount and actual results (budgetary basis) $ amountfor that expenditure for the year ended August 31, 2014?

_____ 31. Due to the complexity of the State’s budget, aseparate report is prepared to present final budget to actualcomparisons at the legal level of control and can be obtained fromthe Department of Finance and Administration. What is the name ofthis report?

Appropriation Summary report

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Obtain a copy of the Comprehensive Annual Financial Report(CAFR) for the State of Texas for the Fiscal Year Ended August 31,2014 from the Texas Department of Finance and Administrationwebsite -

http://www.texastransparency.org/State_Finance/Budget_Finance/Reports/Comprehensive_Annual_Financial/14/,

and answer the following questions. Provide page numbers whereyou found the information. You may copy and paste text from theCAFR. Please submit type-written answers.

Page numbers (1-283) can be found at the bottom of each page ofthe CAFR document and should be included in the blank provided tothe left of each question to reference where your selected answerswere located within the CAFR report. Note that the PDF Adobe pagenumbers (1-294) at the top of the screen will be different from theCAFR page numbers and should not be referenced for purposes of thisexercise.

______1. Provide the name and title of the individualresponsible for transmitting the CAFR to the Governor, Members ofthe Legislature, and Citizens of the State of Texas.

______2. Who was the CAFR report transmitted to?

______3. What achievement was awarded for the State of TexasCAFR for the prior fiscal year ended August 31, 2013? Who grantedthe award and what are the requirements?

______4. Who performed an audit of the financial statements forthe State of Texas? For the Independent Auditor’s Report, whatletterhead was the opinion printed on, who signed the audit report,and what was the date of the audit report?

_____5. The audit of the State of Texas financial statements wasconducted in accordance with which standards?

______6. What type of audit opinion did the State of Texasreceive for the fiscal year ended August 31, 2014? Provide thelanguage included in the opinion paragraph of the audit report.

_____7. The government-wide financial statements are designed toprovide the reader with a broad overview of the State’s finances.What are the names of the government-wide financial statements?

The government-wide financial statements are prepared using the_______ basis of accounting and the _________ measurementfocus.

_____ 8. As for other state and local governments, what are the3 fund categories for the Texas’s fund financial statements?

_____ 9. Most of the State’s general activities are reported ingovernmental funds. Governmental funds are accounted for using the______ basis of accounting and ________ measurement focus.

_____ 10. The State of Texas maintains two types of ProprietaryFunds: enterprise and internal service. The fiscal 2014 financialstatements include ______ total enterprise funds, including _____major fund and _____nonmajor funds.

List the major enterprise fund:

_____ 11. What Required Supplementary Information (RSI) andother supplementary information is included in the TX CAFRreport?

_____ 12. What was the total $ amount of the State’s combinednet assets for governmental and business-type activities for thefiscal year 2014?

_____ 13. What were the State’s two major revenue sources, andwhat were the $ amounts? Together, they accounted for _______percent of total revenues.

_____ 14. Expenses reported on the Government-wide financialstatements are reported on a functional basis. Name the 10functional categories of expenses for the State’s governmentalactivities and rank them for 2014 in $ amounts from largest tosmallest:

_____ 15. The bulk of the State’s total expenses for fiscal 2014were related to the health and social services function. What wasthe $ amount of the expenses for this function, and what % of totalprimary government expenses do these expenses represent?

_____ 16. What is the chief operating fund of the State, andwhat was its ending fund balance as of Aug. 31, 2014?

Obtain a copy of the Comprehensive Annual Financial Report(CAFR) for the State of Texas for the Fiscal Year Ended August 31,2014 from the Texas Department of Finance and Administrationwebsite -

http://www.texastransparency.org/State_Finance/Budget_Finance/Reports/Comprehensive_Annual_Financial/14/,

and answer the following questions. Provide page numbers whereyou found the information. You may copy and paste text from theCAFR. Please submit type-written answers.

Page numbers (1-283) can be found at the bottom of each page ofthe CAFR document and should be included in the blank provided tothe left of each question to reference where your selected answerswere located within the CAFR report. Note that the PDF Adobe pagenumbers (1-294) at the top of the screen will be different from theCAFR page numbers and should not be referenced for purposes of thisexercise.

______1. Provide the name and title of the individualresponsible for transmitting the CAFR to the Governor, Members ofthe Legislature, and Citizens of the State of Texas.

______2. Who was the CAFR report transmitted to?

______3. What achievement was awarded for the State of TexasCAFR for the prior fiscal year ended August 31, 2013? Who grantedthe award and what are the requirements?

______4. Who performed an audit of the financial statements forthe State of Texas? For the Independent Auditor’s Report, whatletterhead was the opinion printed on, who signed the audit report,and what was the date of the audit report?

_____5. The audit of the State of Texas financial statements wasconducted in accordance with which standards?

______6. What type of audit opinion did the State of Texasreceive for the fiscal year ended August 31, 2014? Provide thelanguage included in the opinion paragraph of the audit report.

_____7. The government-wide financial statements are designed toprovide the reader with a broad overview of the State’s finances.What are the names of the government-wide financial statements?

The government-wide financial statements are prepared using the_______ basis of accounting and the _________ measurementfocus.

_____ 8. As for other state and local governments, what are the3 fund categories for the Texas’s fund financial statements?

_____ 9. Most of the State’s general activities are reported ingovernmental funds. Governmental funds are accounted for using the______ basis of accounting and ________ measurement focus.

_____ 10. The State of Texas maintains two types of ProprietaryFunds: enterprise and internal service. The fiscal 2014 financialstatements include ______ total enterprise funds, including _____major fund and _____nonmajor funds.

List the major enterprise fund:

_____ 11. What Required Supplementary Information (RSI) andother supplementary information is included in the TX CAFRreport?

_____ 12. What was the total $ amount of the State’s combinednet assets for governmental and business-type activities for thefiscal year 2014?

_____ 13. What were the State’s two major revenue sources, andwhat were the $ amounts? Together, they accounted for _______percent of total revenues.

_____ 14. Expenses reported on the Government-wide financialstatements are reported on a functional basis. Name the 10functional categories of expenses for the State’s governmentalactivities and rank them for 2014 in $ amounts from largest tosmallest:

_____ 15. The bulk of the State’s total expenses for fiscal 2014were related to the health and social services function. What wasthe $ amount of the expenses for this function, and what % of totalprimary government expenses do these expenses represent?

_____ 16. What is the chief operating fund of the State, andwhat was its ending fund balance as of Aug. 31, 2014?

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