Question

In: Accounting

1. What is the title of the White Plains (WP) Executive Officier? 2. With what group...

1. What is the title of the White Plains (WP) Executive Officier?

2. With what group does WP legislative authority reside with?

3. Who does the Commissioner of Finance report to?

4. To what groups is the CAFR addressed to?

5. What type of tax is WP authorized to levy?

6. How would you characterize the City's economic condition and why?

7. How much did WP budget for capital improvements for the fiscal year ended 6/30/18?

8. What was the median home sales price for the fiscal year ended 6/30/17?

Solutions

Expert Solution

1. The title of the White Plains (WP) Executive Officer is the Mayor because White Plains follows the Mayor-Council form of government who holds the power to pass administrative laws and regulations

2. WP legislative authority reside with Common Council which includes Mayor and six council members who are elected to their positions with the term of four years

3. The Commissioner of Finance reports to the Mayor and the Council Members.

4. The CAFR is addressed to groups which include Mayor, Council members, and White Plains citizens.

5. White Plains is authorized to levy taxes on real property within its boundaries.

6. As city is commuter hub because of the proximity to NYC and the accessibility through White Plains to NYC thus we can conclude that city is economically well established. Moreover per capita and median household income is more compared to NYC.

7. The White Plains budget for capital improvements for the fiscal year ended 6/30/18 equals $11.7 million

8. The median home price fall by 4.9% thus equals $617,000 in 2017.


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