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OEM <br />MOO <br />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 />.... <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 />-5 <br />9/25/87 <br />M. 7 /Datal -5 <br />