For Assignments 2 to 3, you are the new budgeting and finance administrator for your local government agency. Your first responsibility is to become familiar with the agency, the budget, programs, and capital projects. As the administrator, you will be responsible for analyzing, examining, proposing, and preparing the agency’s budget for the next five years.Assignment 3: Preparing the Audit Analysis Due Week 7 and worth 200 pointsYou are to preparing for a challenging City Council Meeting. You need to be able to give the other council members and mayor an accurate “city of affairs” to make sure significant cuts can be made in the appropriate areas, and other critical areas can continue to be funded. Using your local cities 2015-2016 budgets, analyze the financial plan to respond to the following questions in a two- to three-page paper: Based on the review of your city’s Financial Plan: What is the fastest-growing category of expenditures during the planning period? Justify the answer with examples. What percentage of your city’s revenue comes from the general property tax? How much is this tax growing in each year of the financial plan? Justify the answer with examples. Evaluate the existing capacity of refunding or reorganizing existing debt organizations. Analyze the various funding alternatives that can be used to support debt obligations.Your assignment must follow these formatting requirements: Include an abstract and conclusion that you will name (Budget Summary), and attach the budget summary as an Appendix. Include the URL of the location of your city’s financial plan and any other documentation you used for your budget summary. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA. Check with your professor for any additional instructions.