Question

Based on the 2016 CAFR of the County of Santa Clara. Please copy link below for...

Based on the 2016 CAFR of the County of Santa Clara. Please copy link below for required data

https://www.sccgov.org/sites/fin/Controller-Treasurer%20Department/CAFR%20Report/Documents/County%20of%20Santa%20Clara%20CAFR%20FY2016.pdf

and please help answer question #6 of the Continuing Problem found on page 407 in text.

Text: Government and Not-For-Profit Accounting Concepts & Practices; 7th Edition, Michael H. Granof and Saleha B. Khumawala

ISBN: 1118983270
ISBN-13: 9781118983270

Question:

6. Do the financial statements include a statement of cash flows for proprietary funds? Is the statement on a direct or an indirect basis? In how many categories are the cash flows presented? Which of these categories resulted in net cash inflows? Which resulted in net cash outflows?

Homework Answers

Answer #1

1. Yes, the financial statement include a statement of cash flow for proprietary funds

2. The statement is on direct basis.

3. Following resulted in cash inflow:  Cash receipts from customers and users, Cash receipts from state grants - taxes realignment, Cash receipts from borrowings from other funds, Transfers in, Proceeds from issuance of refunding bonds, Proceeds from sale of capital assets, Investment income received.

4. Following esulted in cash outflow: Cash payment to suppliers for goods and services, Cash payment to employees for services, Other payments, Transfers out, Bond issuance costs paid, Payment to bond refunding escrow, Principal paid on bonds, Interest paid, Acquisition of capital assets

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