| 2006 Budget | 2012 Budget | 2006-2012 Change | ||||
| $ | % of Total | $ | % of Total | $ Change | % Change | |
| Revenues | ||||||
| Property Tax | 52,242,954 | 78,519,348 | ||||
| Motor Vehicle Tax | 9,081,400 | 9,408,238 | ||||
| Sales Tax | 117,117,201 | 131,466,507 | ||||
| Restaurant Tax | - | 19,084,888 | ||||
| Business Taxes | 29,634,895 | 33,775,353 | ||||
| Licenses and Permits | 8,800,811 | 8,620,323 | ||||
| Intergovernmental Revenues | 7,757,200 | 4,877,090 | ||||
| Service Charges | 16,955,899 | 19,252,164 | ||||
| Interest and Miscellaneous | 3,182,105 | 3,218,475 | ||||
| Prior Year Fund Balance | 3,764,336 | 3,015,778 | ||||
| TOTAL REVENUES | ||||||
| Expenditure Appropriations | ||||||
| General Government | 10,683,404 | 12,369,393 | ||||
| Planning | 5,358,880 | 6,972,304 | ||||
| Parks and Recreation | 14,907,520 | 17,688,172 | ||||
| Fire | 63,670,372 | 66,914,984 | ||||
| Police | 87,222,525 | 115,920,343 | ||||
| Public Works | 14,676,418 | 17,322,527 | ||||
| Convention & Tourism | 255,600 | - | ||||
| Library | 7,938,606 | 10,564,133 | ||||
| Other Budgetary Accounts | 43,823,476 | 63,486,308 | ||||
| TOTAL APPROPRIATIONS | ||||||
| Notes: | ||||||
| General Government includes Mayor, City Council, City Clerk, Law, Human Resources, | ||||||
| Human Rights and Relations, and Finance. | ||||||
| Other Budgetary Accounts includes Retiree Health Insurance, Workers' Compensation, | ||||||
| County Jail, 911, Information Technology Services, Lease Payments, and Misc. | ||||||
| Assignment: | ||||||
| 1. Calculate total revenues and expenditures for each year. | ||||||
| 2. Calculate each revenue source and expenditure category as a percentage of the total | ||||||
| budget for each year (for example, property tax for 2006 = 52,242,954/total revenue * 100). | ||||||
| 3. Calculate the amount change from 2006 to 2012 for each revenue source and expenditure, | ||||||
| and for total revenues and expenditures (=2012 amount - 2006 amount). | ||||||
| 4. Calculate the % change from 2006 to 2012 for each revenue source and expenditure, and | ||||||
| for total revenues and expenditures (= amount change/2006 amount * 100). | ||||||
| 5. Write a brief analysis (two-three paragraphs). This should include the total amount of the | ||||||
| budget, how much it has changed over time, the major revenue sources and which have | ||||||
| experienced the greatest change, the major expenditure categories and which have experienced | ||||||
| the most change (be sure to include $'s and %'s in your discussion, do not talk generally). | ||||||
In: Finance
Thomlin Company forecasts that total overhead for the current year will be $12,464,000 with 152,000 total machine hours. Year to date, the actual overhead is $8,299,800, and the actual machine hours are 95,400 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is
a.$283,000 underapplied
b.$477,000 overapplied
c.$283,000 overapplied
d.$477,000 underapplied
In: Accounting
The total impedance of the circuit.
The voltage drop across the coil.
The total phase constant of the circuit.
Calculate the frequency band width.
Calculate the natural frequency.
In: Physics
The bank has total assets of 967,151 and total liabilities of 902,027. The shareholder's equity is 65,124. all the amounts are in millions. the debt to equity ratio will be 13.85. so, what does 13.85 mean?
This data is taken from a legit bank from its balance sheet but can debt to equity ratio be 13.85 for good banks?
In: Finance
English Company billed its customers a total of $1,785,000 for the month of November. The total includes a 5% state sales tax.Instructions(a) Determine the proper amount of revenue to report for the month.(b) Prepare the general journal entry to record the revenue and related liabilities for the month.(c) Assume English does separate revenue from sales tax and the revenue for the month of November is $1,600,000. Prepare the general journal entry to record the revenue and related liabilities for the month.
In: Accounting
A company sold a total of 1,000 units for total sales revenue of $70,000.
The company incurred total variable expenses of $38,500 and total fixed expenses of $ 23,310.
Based on this, the company reported a total contribution margin of $31,500 and net operating income of $ 8,190.
Use this information to answer the following questions. Assume that all units are within the relevant range.
1 Calculate the net operating income if the variable cost per unit increases by $1, spending on fixed costs increases by $1,600, and unit sales increase by 220 units.
2 Calculate the break-even point in unit sales.
3 Calculate the break-even point in unit sales.
4 Calculate the number of units that must be sold to earn a target profit of $18,900.
In: Accounting
A company sold a total of 1,000 units for total sales revenue of $70,000. The company incurred total variable expenses of $38,500 and total fixed expenses of $ 23,310. Based on this, the company reported a total contribution margin of $31,500 and net operating income of $ 8,190. Use this information to answer the following questions. Assume that all units are within the relevant range.
1.Calculate the per-unit contribution margin
2.Calculate the contribution margin ratio.
3. Calculate the increase in net operating income if sales increase to 1,001 units
4.Calculate the net operating income if the selling price increases by $2 per unit and the sales volume decreases by 100 units.
In: Accounting
ABC had total revenues of $625,000 for the month of July. Total expenses for the same period were, salaries $200,000, supplies $21,000, utilities $13,000 and depreciation $57,000. Prepare the closing entries.
In: Accounting
a. Jack Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the repair shop recorded $500,000 in computer repair revenues, $300,000 in expenses, and paid dividends of $50,000. The repair shop stockholders' equity at the end of the year was $___________.
b. Costs of goods sold is $15,000 greater than net purchases. If beginning inventory is $110,000, what is ending inventory? Using COGS=BI+P-EI
c. Revenue of $45,000 had been collected, but only $39,000 had been earned. Expenses of $24,000 had been incurred, but only $29,000 had been paid. Based on the accrual basis of accounting, what is the amount of net income?
d. The following is selected information from Tiff. Co for the fiscal year ending October 31, 2019.
Cash received from customers $300,000
Revenue recognized $375,000
Cash paid for expenses $180,000
Cash paid for computers on November 1, 2018 that will be used for 3 years (annual depreciation is $16,000) $48,000
Expenses incurred, including interest, but excluding any depreciation $220,000
Proceeds from a bank loan, part of which was used to pay for the computers $100,000
Based on the accrual basis of accounting, what is Tiff. Co's net income for the year ending October 31, 2019?
In: Accounting
In two companies making the same product and with the same total sales and total expenses, the contribution margin ratio will be higher in the company with a higher proportion of fixed expenses in its cost structure.
True
False
In: Accounting