Minutes 11/23/1982 - Laserfiche WebLink

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TUESDAY NOVEMBER 23, 1982 to do this monthly upon receipt of our bank statements. As of June 30th, I had reconciled the accounts, with the exception of two unidentified checks in the Piedmont Trust Bank account in the amount of $20.91. Also, I could not determine the disposition of several electronic deposits from the Commonwealth of Virginia deposited in the Piedmont account. This was accounted for before the audit was completed, and an adjustment was made by the auditor. With regard to the difference encountered between the Treasurer's Trial Balance and the Department of Finance, we have made some progress in narrowing this difference. My deputies worked closely with the auditors during the audit, particularly in the field of real estate and personal property taxes. I will try in the future, with the assistance of the finance department to make this gap even narrower. With regard to the timely deposit5 of monies received in the Treasurer's office, I have strived to make the deposits as promptly as possible. As to holding money in the office, and not depositing same, this matter is related mostly to pre-collections of taxes and utility bills. A policy I have followed for years on prepayment of taxes, before they are collectables, is to hold the money in our vault until such time the taxes are collectable. As to prepayment of utility bills, many customers pay final bills in advance when they are moving away from the city. We hold this until the next monthly billing is made and then report same. We have encountered overages, and have been able to identify them. There have been some shortages I have had to correct. We all try to avoid errors, but they can be easily made. And we use every effort to try and correct these instances, and will continue to do our best. The auditors are very helpful to my office in explaining how many matters should be handled, and it is a great help to me in carrying our the duties of this office in the proper manner. And this is the goal we strive to work to. With the cooperation of our departments, I hope to continue to strive in this manner. - In connection with the Audit Report for the City's fiscal year ended June 30, 1982, City Manager Edmonds presented a memorandum in which he compared the budgeted fund surpluses (i.e., estimated to be available at July 1, 1982) with the audited fund surpluses and balances at June 30, 1982, meanwhile offering a reconciliation or explanation of differences. Upon City Manager Edmonds' recommendation, as set forth in his November 17th memorandum to Council, Council unanimously directed that the City's current budget be revised to