PA615 – Public Financial Management
Instructor, All Holliman
California State University, San Bernardino
Carrie Harmon, Scott Perkins, Dana Cano, Veronica Pinkett-Veal, Lydia Khalil, Holly Benton
June 10, 2010
Contents Executive Summary 2 Cover, Table of Contents and Formatting 3 Introduction 3 Independent Auditor’s Report 5 Management’s Discussion and Analysis 6 Basic Financial Statements 6 Government-wide Financial Statements 7 Fund Financial Statements 8 Government, Proprietary, and Fiduciary Funds – Financial Statements 10 Summary of Significant Accounting Policies (SSAP) 14 Note Disclosure (other than SSAP and pension-related disclores) 19 Required Supplementary Information (RSI) 19 Combining and Individual Fund Information and Other Supplementary Information 21 Statistical Section 22 Other Considerations 23
Executive Summary
The purpose of this report is to conduct a comprehensive analysis of the County of Ventura’s Comprehensive Annual Financial Report otherwise known as the CAFR. This analysis afforded the group members an opportunity to apply concepts and theories acquired through a graduate level governmental accounting course and provided the group members with a more intimate view of local government finances.
The County of Ventura was selected for three primary reasons: 1) the county is located in Southern California and can easily be compared to the County of Riverside; 2) Ventura County is for the most part a suburban community and as such has been significantly impacted by the housing crisis; and 3) Ventura County is noted as a desirable place to live due to overall quality of life and low crime rates.
The formal analysis was conducted using the Government Finance Officers Association’s General Purpose Checklist which is available online at www.gfoa.org. This checklist is
