17 Feb How do the data for each ratio compare to the cutoff points? (The ratio should be greater than 1.50.) 2) ?How does each Ratio compare to the other ratios? 3) Explain why what occurred, o
1.) How do the data for each ratio compare to the cutoff points? (The ratio should be greater than 1.50.)
2) How does each Ratio compare to the other ratios?
3) Explain why what occurred, occurred and its implications. Should the organization be concerned? Can it be corrected? How? You needed to explore the internet for information about Bay City, Texas in 2022 so that you can answer why what occurred, and its implications.
Abridged Budget
| Abridged Budget for Bay City, Texas, 2022 | ||||||
| Combined Revenue and Expenditures Summary | ||||||
| Actual FY 2020 | Actual FY 2021 | Amended Budget FY 2022 | Projected FY 2022 | Adopted FY 2023 | % Change Budget FY 2022 to Adopted FY 2023 | |
| Funding Sources | ||||||
| Property Tax | 5,728,874 | 5,965,544 | 6,212,202 | 6,121,770 | 6,631,192 | 6.74% |
| Sales and Use Tax | 4,999,150 | 4,980,165 | 5,082,000 | 5,078,250 | 5,063,000 | -0.37% |
| Franchise Tax | 1,258,458 | 1,263,438 | 1,298,000 | 1,273,000 | 1,361,000 | 4.85% |
| Hotel/Motel Tax | 666,649 | 640,386 | 600,000 | 615,000 | 620,000 | 3.33% |
| Licenses and Permits | 205,985 | 193,014 | 193,500 | 194,895 | 198,500 | 2.58% |
| Charges for Services | 10,084,944 | 10,939,588 | 11,007,000 | 11,205,112 | 12,414,500 | 12.79% |
| Fines and Penalties | 283,393 | 331,851 | 312,300 | 327,504 | 335,800 | 7.52% |
| Other Revenues/Sources | 1,081,024 | 1,348,616 | 195,500 | 225,000 | 421,500 | 111% |
| Miscellaneous | 1,951,026 | 2,535,633 | 1,561,998 | 1,752,373 | 1,818,508 | 16.42% |
| Intergovernmental | 1,595,999 | 2,914,125 | 1,882,000 | 1,637,000 | 1,102,000 | -41.45% |
| Prior Fund Balance | – | – | 2,646,000 | – | 1,485,000 | -43.88% |
| Total Revenues & Transfers | 27,855,502 | 31,112,361 | 30,990,500 | 28,429,904 | 31,442,000 | 1.46% |
| Expenditures | ||||||
| General Government | 3,959,232 | 3,959,356 | 4,478,530 | 4,430,150 | 4,781,654 | 6.77% |
| Streets | 3,430,354 | 3,838,132 | 4,451,662 | 4,449,400 | 4,020,859 | -9.68% |
| Public Safety | 4,981,814 | 5,499,838 | 5,646,810 | 5,642,289 | 5,628,051 | -0.33% |
| Parks & Recreation | 2,345,165 | 2,229,613 | 2,522,498 | 2,283,145 | 2,249,436 | -10.83% |
| Water & Sewer | 10,024,756 | 9,050,489 | 10,148,000 | 8,653,369 | 11,112,000 | 9.50% |
| Airport | 793,689 | 897,916 | 673,000 | 672,675 | 873,000 | 29.72% |
| Hotel Motel | 623,421 | 649,757 | 1,017,000 | 711,230 | 717,000 | -29.50% |
| Interest & Sinking | 1,377,673 | 4,184,105 | 2,053,000 | 2,052,933 | 2,060,000 | 0.34% |
| Total Revenues & Transfers | 27,536,105 | 30,309,206 | 30,990,500 | 28,895,191 | 31,442,000 | 1.46% |
| Government-Wide Financial Analysis City of Bay City, Texas Net Position (in dollars) | ||||||
| Total 2022 | ||||||
| Curent Assets | $ 15,429,273 | |||||
| Capital Assets | $ 50,380,696 | |||||
| Total Assets | $ 65,815,497 | |||||
| Current Liabilities | $ 5,863,375 | |||||
| Noncurrent Liabilities | $ 24,983,882 | |||||
| Total Liabilities | $ 30,847,257 | |||||
| Restricted Assets | $ 7,532,535 | |||||
| Unrestricted Assets | $ 27,185,504 |
Financial Indicators
| Bay City, Texas FY 2022 | ||||
| Current, Operating, and Net Asset Ratio | ||||
| Dollar Amount | Ratio | |||
| Cash Solvency: | ||||
| 1 | Current Ratio | Current Assets | ||
| Current Liabilites | $3 | |||
| Ratio | 2.63 | |||
| Budget Solvency | ||||
| 2 | Operating Ratio | Total Revenue | ||
| Total Expenses | $2 | |||
| Ratio | 2.00 | |||
| Long-Run Solvency | ||||
| 3 | Net Asset Ratio | Total Assets | ||
| Restricted + Unrestricted Assets | $2 | |||
| Ratio | 1.90 | |||
Measures of Solvency Ratios for Bay City, TX
FY 2022
Current Ratio Operating Ratio Net Asset Ratio 2.6314661777559851 2 1.8957147032411594
Type of Ratio
Ratios
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