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19. Enterprises - Profit or Loss <br />Includes operating revenues, expenses, operating income and net income for <br />enterprises such as water, sewer, and electric. <br />20. Property Tax Collection Rate <br />This is current -year data, showing the collection rate on the current <br />year tax levy. <br />21. Bond Ratings <br />Source: Bond rating services. Note that often cities are rated only in <br />years when the city markets an issue. <br />22. Opinion on Financial Report and Certificate of Achievement <br />Unqualified opinion - In auditor's professional opinion, 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 toanner <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 financia: <br />reporting, and its attainment represents a significant accomplishme,it by a <br />government and its management. <br />- S - <br />9/25/87 <br />M.7/Datal-5 <br />