In this assignment you will examine the financial statements of Rock Island. The CAFR document and assignment requirement are attached follow.

Question

Rock Island CITY OF ROCK ISLAND, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FICAL YEAR ENDED DECEMBER 31, 2017 Prepared by: Finance Department Stephanie Masson Finance Director Linda Barnes Accounting Supervisor CITY OF ROCK ISLAND, ILLINOIS TABLE OF CONTENTS PAGE INTRODUCTORY SECTION List of Principal Officials ........................................................................................................................... i City Organizational Chart ........................................................................................................................... ii Letter of Transmittal ............................................................................................................................. iii - x GFOA Certificate of Achievement for Excellence in Financial Reporting ............................................... xi FINANCIAL SECTION INDEPENDENT AUDITORS' REPORT ......................................................................................... 1 - 3 MANAGEMENT’S DISCUSSION AND ANALYSIS ...................................................... MD&A 1 - 13 BASIC FINANCIAL STATEMENTS Government-Wide Financial Statements Statement of Net Position .......................................................................................................... 4 - 5 Statement of Activities ............................................................................................................... 6 - 7 Fund Financial Statements Balance Sheet – Governmental Funds ....................................................................................... 8 - 9 Reconciliation of Total Governmental Fund Balance to Net Position of Governmental Activities .................................................................................10 Statement of Revenues, Expenditures and Changes in Fund Balances – Governmental Funds ............................................................................ 11 - 12 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances to the Statement of Activities – Governmental Activities...............................13 Statement of Net Position – Proprietary Funds...................................................................... 14 - 15 Reconciliation of Total Enterprise Fund Balance to Net Position of Business-Type Activities ................................................................................16 Statement of Revenues, Expenses and Changes Fund in Net Position – Proprietary Funds ................................................................................. 17 - 18 Reconciliation of the Statement of Revenues, Expenses and Changes in Net Position to the Statement of Activities – Business-Type Activities .................................19 Statement of Cash Flows – Proprietary Funds ....................................................................... 20 - 21 Statement of Fiduciary Net Position ..............................................................................................22 Statement of Changes in Fiduciary Net Position ...........................................................................23 Notes to the Financial Statements .......................................................................................

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CITY OF ROCK ISLAND, ILLINOIS
Comprehensive Annual Financial Report (CAFR) for the period ended December 31, 2017
The information is depicted in the balance sheet and the statement of revenues and expenditure and also the changes in fund balances which are considered as the main funds. The General Fund reported a deficit of $1,322,121 in 2017 indicating a decrease of 13 percent in comparison to 2016. The City’s governmental funds showed a deficit of $2,359,988 indicating a lower of 8.8 percent. The Public Library Fund reported a deficit for the year of $58,240. The Tax Increment Financing District Fund reported a surplus for the year of $1,440,156. The Riverboat Gaming Fund reported a deficit of $1,173,281. The Community/Economic Development Fund reported a deficit of $38,449 The Debt Service Fund reported a surplus of $258,227 because of the issue of new debts. The Capital Projects Fund reported a deficit of $2,004,436. As regards to the net position of the City’s governmental activities with on the basis of the accrual basis of accounting the same decreased by 21.2 percent. 
With regards to the City’s investment in capital assets namely land, construction in progress, buildings and improvements, machinery and equipment, and infrastructure for governmental and business type activities as of December 31, 2017 was $211,860,394 net of accumulated depreciation. The non-depreciable capital assets amounted to $38,453,

Rock Island CITY OF ROCK ISLAND, ILLINOIS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FICAL YEAR ENDED DECEMBER 31, 2017 Prepared by: Finance Department Stephanie Masson Finance Director Linda...

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