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20. Opinion on Financial Report and Certificate of Achleverent <br />Unqualified opinion « In auditor's professional opinio:;, the financial sta­ <br />tements conform to generally accepted accounting principles (GAAP). <br />Qualified opinion ■ In the auditor's opinion, the financial statements are <br />not in conformity with generally accepted accounting principles. A common <br />example Is general fixed assets, which may not be accounted for In a manner <br />prescribed by GAAP. <br />A "Certificate of Achievement" Is awarded by the Government Finance Officers <br />Association to cities which exhibit excellence In financial reporting. This <br />Is the highest form of recognition In the area of governmental financial <br />reporting, and its attainment represents a significant accomplishment by a <br />government and Its management. <br />21. Number of Employees (Governmental Funds) <br />Source: Data provided by Individual cities. Full-time generally Includes <br />full-time only. Part-time Includes part-time and part-time seasonal <br />workers. <br />22. Compensation and tmployer-Pald Fringe Benefits (Governmental Funds) <br />Source; Reported by city personnel. Compensation covers governmental fund <br />employees. Also reported are fringe benefits Including sick leave, vacation <br />leave; severance pay; employer contributions for retirement; employer <br />payments for health, life and disability Insurance; benefits and Insurance <br />premiums for unemployment compensation and workers compensation; the value <br />of past retirement benefits and any other benefits. <br />Some cities have estimated fringe benefits, while some provide actual <br />dollar .amounts. <br />22. Enterprises - Profit or Loss <br />Includes operating revenues, expenses, operating Income and net Income for <br />enterprises such as. water, sewer, and electric. <br />- 5 -