2011 City of Smithville financial statements

Using the December 31, 2011 City of Smithville financial statements which were provided in as well as all of the
general journal and general ledger entries, prepare a written evaluation of the City of Smithville?s financial
position and condition as of December 31, 2011, using appropriate ratios such as the Crawford and Associates
ratios illustrated in Chapter 10 of the textbook. For purposes of calculating per capita ratios, assume the
population of the City of Smithville is 25,000.

There are three performance measures that you do not have enough information to produce:
Pension Plan Funding
Sales Tax Growth
Financing Margin Sale Tax Rate
1. calculate the 15 Performeter ratios (3 cannot be computed due to lack of information),

2. explain the meaning to the City of Smithville of the calculated ratio,

3. evaluate the financial condition of the City of Smithville using the 15 ratios taken as a
whole. You may use the benchmarks presented in Illustration 10-7 if you wish to fulfill
your assignment. Your last paragraph will be a succint statement of the City of
Smithville financial condition.

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