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The Task of accounting used for the budgets of the general and special revenue fun& diflq:rs
<br />Crom getleMII cticLptCJ ticcarurttinu principIcs. Intergovernmental revQnues are rt eQo nixed ,vhen
<br />awardA bv the granting tigrnC%, rnc4,nirhrances and unexpended allotment, .ire treatt2d a
<br />expenditures for purper,e's tit' determining lcgal comphance "-it[) the annual hudg.n.'Lill leases aro
<br />treated as operating leases, and acc•oun3 s pay thle arc noL accrued.
<br />1 kits Cc t]tity also nlaintain, yin enc.umhrancc dc.COUJ`ittti� system as one teclinligue cif
<br />acc:omplishitig. budgetary conlrol. U'ncull prance,: out Landuig at fiscal year Cild are included ill
<br />the VUr_30LJS fUnd balancr cxogork s ba,wd on �Ahethtr the rt-�oLLrcc.S arc restricted, committed or
<br />assigned and do not constitute expenditures or liabilitics hecausc they will he honored (hiring 11w
<br />f011o ina vc.ar. As de1T omtratCLI by the ;tatcnlcnt,� Lind ,chtedulcs inclaaded in the litl,itl6: 11
<br />scctiun Of1.111S report, the CotiM io rrscct its rL-speriisibility for sound titsanc:ial
<br />nliin'ageiilent.
<br />.Significant.4c•counting Policies
<br />1'lirr C`ouiity has implenlented (Joverriment.al Accounting Standards, Board Stat+,rne'nt No. 14, -fi2c
<br />Fin anc�rul R OI-Iia Ety.lky ((�'rASR Siate.rncilt'`'o. 14), Stateni�°tlt "','0. 19, l:)c�cfrrrairrrrr�F 1:� '12L lhC1_
<br />'cr(ain (.)i-ow7izw1`oP2s 4i,e f (C-YAS13 St',jN2117ent NO. 39) alld Statelnk nt No. Cif
<br />Thl f{'���,arr�i�1? i � rcrr fr'r� ; ��fr�f)rr�r;ihir,o t.rP caraicrclracr7J ir1 (1,4,S'13 SUfCYa?L'Rh -O-ct. 14 an,-134
<br />(C ASB ` w,temcnt No. 61). All orLianiza[ilons, activities or functions that met2t the criteria in
<br />GAS13 Statement No. 14, N'Ll. 19 J- 11d No. 01 Cor inclu,'Lon in tllc rc;porting entity are irwkjdt.-d M
<br />Ilie Coijilty' ha5ic financial sta1ien)en[,- l:"c]r i'ttrtliCr discussion on Caller ,'Lgnificant acks0cttitiii
<br />policie,, refer to (hC 1710tes to the basic i in,irIcial statcrrJc 11tS.
<br />Fin aneial High lie* h6
<br />(Ic}w'c,ryin�c ill �l r1c[i� tries incMisecl tile: C.'oiirlt . ", net PON-Rion by $25,1 7 million, which
<br />rcrrrese.ntid 3. 1most the eT3lire loud increase in net positicin of the Count% -
<br />There was a $257.2 niillion (37+°'d) increase in revenues from governnierJtal activitics, due to the
<br />€{fllo%%-ing factors. As nicnticint2d preViuusly, the ('01111ty experic M;,M a S99.9 m11110rt increase in
<br />ruvenucs froin iax,�s, whicdi wa prirn Mril;' a reflcctir�it of increase in real properly L aXC: trt ?3 7
<br />iriilliun ZLEICI tt',WSient UCC0mn10datic1r1q tax Of $14.1 Millie n. The incrua., ti in real prope. ly
<br />tax rcVCIILte,�. }Nas a dirty reflection of ffic totLil increase of$0,9 billion in aT sect Ventre Of tlic
<br />net taxable rail property, with the malorite rr9 the increase stenitiiin� from the catLgory of (a.x INC
<br />buildings ($4.6 hillion). Thcr County Aso r,-cw)f*.nizod tin increase in rc.vtnue froin the (:`ounLy
<br />trttii5icnt accommudat[ons lax, undc,r ,-'act 1. I Spk vial Se*.�i�7n'2(}21, became lave on Jill
<br />R, 2021. The counties vwere atifliori.red 1.0 c ttthli,li and admini4ter their or Nn transiertt
<br />ac.cc}nlmcrdationS tax (TAT) at a maxinium rate of 3 percent. On Dc.:tnl)~er l 0, `'il2) 1, Mayor
<br />Mitc:hch 1?. Firth signed into lake Ordinancc 21-89 �Nhich imposed a � percent IICTAT, which
<br />shall takc cocci On ,ianuM[ 1„ 2t:��'2. r^+'Sclnic- col.lcctid wcre two be deposited into the Fcncr- 14rrld
<br />as unrestrictcd rr;reiwes. The. tax �k , only inlplcnicnted for half a y,�cir in the prior fiscal %car
<br />;and fiscal y v a r 2t123 W t1, tttc first frill year that the tux �k'as ui effect,
<br />Overall expciisL•, front governmenial iic[i� tries increased lit S1_ 4J million (24'4) from the
<br />previous year. WhiCh �NLit ci result Of tile C t-Imit) exptyricncmy a $22.0 increase in e pcnditin,es
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