Calculate Operating Margin Assume The Following Information Was Derived From The Fund Financial Statements Prepared By T 1 (23.61 KiB) Viewed 35 times
Calculate operating margin Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30, 2019: City of Tallahassee General Fund Balance Sheet (in thousands) Assets: Cash and cash equivalents $5,952 Due from other governments 0 All other assets 6,455 Total assets $12,407 Liabilities: Total current liabilities $27,089 Fund balance: Nonspendable -18.380 Committed 0 Assigned 0 Unassigned 3,698 Total fund balance -14,682 Total liabilities and fund balance $12,407
City of Tallahassee General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance (in thousands) Total revenues $241,782 Total expenditures 394,735 Excess of revenues over (under) expenditures -152,953 Other financing sources (uses): Transfers in 119,033 Transfers out -51,653 Proceeds from sale of capital assets 1,032 Total other financing sources (uses) 68,412 Net change in fund balance -84,541 Fund balance, October 1, 2019 69,859 Fund balance, September 30, 2019 $-14,682 96 a) Calculate the city of Tallahassee's operating margin ratio. O Assume all transfers in are recurring. Round percentage to two decimals. b) Included in expenditures is $67.2 million in costs related to Hurricane Michael. Calculate the operating margin ratio assuming those costs were not incurred. 0 %6 Assume all transfers in are recurring. Round percentage to two decimals.
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