Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Orange County uses a custodial fund to collect property taxes for other governments within the county. Orange County General Fund employees handle the collections and
Orange County uses a custodial fund to collect property taxes for other governments within the county. Orange County General Fund employees handle the collections and a 2.5% collection fee is charged to all units except the county. This collection fee is recorded as revenue in the Orange County General Fund Assuming the following collections, the total amount of revenue recognized by the Orange County General Fund would be: Entity Collections Orange County $4.000.000 Independent School District other government) $9.000.000 Local Municipality (other government $8.000.000 O $4,425,000 90 O $3.500.000 O $4325.000 $3.900.000 Z S X Alt C R F B M
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started