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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 336 / 352

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© D.L. Crumbley

Assess Financial Health of Governmental Units

Greater than 90%

Increasing

Debt outstanding/debt limit

Greater than 90%

Increasing

Tax levy/tax limit

Greater than 20%

Increasing

Debt service/total revenue

Varies

Increasing

Fixed costs/ total expenditures

Greater than 8%

Increasing

Uncollected property taxes/ current tax levy

5%

Increasing

Current liabilities/total revenue

Varies

Increasing

State and federal aid / total revenue

Varies

Decreasing

Elastic revenue (sales, utilities, other elastic taxes)/total revenue

5% or consecutive

Decreasing

Operating surplus (deficit)/total revenue

Less than 1%

Decreasing

Cash and investments/current liabilities

Credit Industry Benchmark

Negative Indicator

Ratios

Source: S.M. Winckler and Dewey Ward, “Can City Hall Go Broke? The Going Concern Issue,” Journal of Accountancy, May 1984.

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