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During 2015, the City of Greenfield engaged in the following financial activities: 1. The City Council approved the budget for the general operating fund. The
During 2015, the City of Greenfield engaged in the following financial activities:
1. | The City Council approved the budget for the general operating fund. The budget shows estimated revenues of $2,005,000 and appropriations for expenditures of $1,957,000. | |
2. | Property tax assessments for 2015 were compiled and statements mailed to property owners. Assessments total $1,043,000. Past collection experience indicates that approximately 5% of assessed property taxes are delinquent or uncollectible during the year of billing. | |
3. | A low bid of $14,000 was accepted for a new vehicle for the fire chief. A purchase order was issued providing for additional costs for painting and ancillary equipment (negotiated after the bid) prior to delivery. The estimate of additional costs is $1,200. | |
4. | Additional purchase orders placed during the year amount to $152,000. | |
5. | City employees are issued paychecks for the month of April. The total payroll amounts to $88,000. | |
6. | The City received a statement from the State Treasurer that the Citys portion of the state sales tax for the first half-year is $407,000. | |
7. | Vouchers for expenditures totaling $125,000 are approved for payment. Encumbrances against these vouchers were recorded at a total of $126,800. | |
8. | The vehicle for the fire chief was delivered and accepted. The invoice in the amount of $15,000 was approved for payment. | |
9. | Property tax collections for the month of June amounted to $439,000. | |
10. | The City Treasurer issued checks in payment of the vouchers totaling $125,000 and for the invoice for the fire chiefs vehicle. | |
11. | A purchase order previously issued for an electric typewriter (estimated price $690) was canceled when the vendor indicated a three-month delay in delivery. |
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