Cafr Analysis

Topics: Financial statements, Generally Accepted Accounting Principles, Balance sheet Pages: 10 (3447 words) Published: July 31, 2013

Anahita Seyedin
Mr. Russell o. Parkman

County of San Diego
CAFR & Budget Analysis
San Diego County begins with the first landing by a European in the present state of California and the first European settlement in California , so that San Diego has been described as "the birthplace of California." After being discovered by Portuguese explorers sailing under the Spanish flag Juan Rodrigues Cabrillo named the area San Miguel (estimated year: 1499-1543 ). It wasn’t until 1602 that San Diego got its namesake. Spain sent mapper Sebastian Vizcaino to map the California coast and he named the area after the Catholic Saint, Didacus. Didacus was more commonly referred to as San Diego and became one of California 's original 27 counties on February18, 1850, shortly after California became 31st state in the Union. It is a county located in the southwestern corner of the U.S state of California. It is the most southwestern county in the 48 contiguous United State. Its county seat and larges city is San Diego. According to the 2010 U.S census , San Diego County had a population of 3,224,432 people, making it the second most populous county in California- first being Los Angeles county. An increase of approximately 1.2% over the estimated January 2009 revised total of 3,185,462. The County lies just north of the Mexican border—sharing a border with Tijuana—and lies south of Orange County. It is home to miles of beaches, a mild Mediterranean climate and 16 military facilities hosting the United States Navy, the United States Coast Guard and the United States Marine Corps. The University of California, San Diego (UCSD) and the affiliated UCSD Medical Center combined with nearby research institutes in the Torrey Pines area of La Jolla make the area influential in biotechnology research. San Diego's economy is largely composed of agriculture, biotechnology/biosciences, computer sciences, Electronic Manufacturing , defense-related manufacturing, financial and business services, ship-repair and construction, software development, telecommunications, and tourism.. San Diego County enjoys a wide variety of climate and terrain, from coastal plains and fertile inland valley to mountain ranges and the Anza-Borrego Desert in the east. This paper will review and analyze the county of San Diego CAFR 2011-12 and Budget 2011-12. It will investigate the CAFR's adherence to GASB 34 and indicate important information that would be useful to readers. The financial situation of the city will also be evaluated along with the accuracy of the Budget.

part1- Budget analysis
budget process and concerns:
County of San Diego like other counties are facing realities in their budgeting process , the first reality is that county continues to receive less revenue than it has received in past years and that is likely to be the case for the foreseeable future. The county adopted budget is less than previous year which made them to reduce the size of its workforce. Another reality is when the economy falters, residents' need for services increases. That is the case now and can be seen in the performance measures and narratives of County departments. And the third reality is that the new administration in Sacramento seeks to redefine counties' relationship with State government - which could streamline programs and reduce bureaucracy if done well but creates a significant challenge for county governments who are already...

References: 1.
4. comprehensive annual financial reports/ Walter J. Burien, Jr.
[ 1 ]. comprehensive annual financial report/pdf/Walter J.Burien,Jr.
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