It's more useful to compare our City's trend data to another city's trend data than to compare it with a city's data from a single year.Are the governments from regions where costs and the environment are similar?.Every region is unique so every part of the state has its own specialist. Do the governments define categories in the same way? We tailor our approach to economic development to each of Oklahomas regions.Are there significant differences in the number of people served?.Are there significant differences in the scope or quality of services provided? Full Service Business Law Firm with locations in Oklahoma City, Tulsa, Denver and NW Arkansas Hall Estill Attorneys represent clients in 70 Practice Areas.Are the governments at the same level (like a state, county or municipality) and type (like general-purpose or special-purpose)?.But consider the following when making any comparisons: It can be useful to compare our City's data with similar local governments.One-time items or changes in underlying assumptions should be carefully noted when analyzing trends.But using more than 10 years of data can lead to using outdated and irrelevant information. You need at least five years of data to have enough for analyzing trends.Examples include public safety expenses as a percentage of total expenses, or local revenue as a percentage of total revenue. Trend data can be even more useful by looking at how percentages change in relationship to other data.The best way to see how the City is doing is to look at trends in key financial indicators like revenue, expenditures and fund balance.The City's own past performance is normally is the most relevant context for analyzing current-year financial data.Here are some recommendations based on suggestions from the Government Finance Officers Association to help you use an AFR to analyze a government’s financial health: Without that context, information in any AFR can be misleading. The best way to understand the results is to compare current reports with previous years and with reports from other cities. Annual Financial Reports (AFRs) have important information used to analyze the financial health of the City of Oklahoma City.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |