Please write a two-page analysis by answering with calculations the following questions by using the attached Comprehensive Annual Financial Statement
for Pasadena city, California
(1) How stable and flexible are the city’s revenue sources in the event of adverse economic conditions?
(2) Is the revenue base well diversified, or does the city rely heavily on one or two major sources?
(3) Has the city been relying on intergovernmental revenues for an excessive portion of its operating expenditures?
(4) What percentage of total expenses of governmental activities is covered by program revenues? By general revenues?
(5) Do any extraordinary or special items reported in the statement of activities deserve attention?
Please be very specific and professional! Please answer the questions with more of a presentation format, not as an essay!