The Governmental Accounting Standards Board (GASB) has established accountabili

The Governmental Accounting Standards Board (GASB) has established
accountability as the cornerstone of financial reporting for
governments. Accountability, as defined by GASB, includes budgetary and
fiscal compliance. In this assignment, you will explore a local
government’s Annual Comprehensive Financial Report (ACFR) for the
elements of the ACFR and how those elements are incorporated by a local
government.
The Annual Comprehensive Financial Report for Cary, North Carolina is
assigned as the local government ACFR for use in this assignment. A PDF of the ACFR of Cary, NC has been attached as a file.  I have also provided the link to AFRC Cary NC
https://www.carync.gov/home/showpublisheddocument/31907/638374880796730000
Required Instructions:
Write a 4-5 page paper in which you address the following: 
1. Analyze the local government ACFR for Cary, NC for the types of
budgets the local government maintains. Provide at least three different
budget types maintained by the local government and an example of what
each controls. 
2. Analyze the Management Discussion and Analysis for at least three
assertions made by management as to their budgetary and fiscal
compliance. Provide an example of each of the three assertions you
analyzed. 
3. Analyze the Budget-to-Actual reports in the local government ACFR
for at least three indications of budgetary and fiscal compliance, such
as significant or non-significant variances. Provide the implication for
the local government of each of the three indications. 
4. Analyze the local government ACFR for Cary, NC for at least three
local government finance-related legal or contractual requirements.
Provide an example of each of the three requirements. 
5. Use at least three quality sources to support your writing. Choose
sources that are credible, relevant, and appropriate. Cite each source
listed on your source page at least one time within your assignment.