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! i <br /> i <br /> C. LOCAL RECEIPTS <br /> i ! <br /> ; <br /> i <br /> The Town has maintained a Subsidiary Revenue Ledger which sum- <br /> marizes the detail of local and state revenues. We noted that <br /> detailed local revenues were summarized by department and not by type, <br /> i.e. license, permits and charges for services. To facilitate year <br /> it <br /> end reporting and permit budget comparisons, we feel that detailed ! <br /> I � <br /> receipts should be maintained by type. This detail will enable the <br /> I ! <br /> town accountant to consistently report the actual receipts, which is <br /> required on the Tax Recapitulation Sheet and on the year end report <br /> Idue to the State {Schedule A} . <br /> A formal Revenue Chart of Accounts should be developed using <br /> UMAS account numbers. This will also benefit the conversion of the ! ' <br /> i <br /> Town* s accounting records in fiscal year 1991 (See prier Management <br /> Letter) . With the development of the Revenue Chart of Accounts actual <br /> receipts can be compared to budgetary figures to provide helpful <br /> I '. <br /> management information throughout the year. <br /> The Revenue Chart should be given to each department so they car, <br /> summarize treasurer turnover sheets with the new account numbers. <br /> The Treasurer would then summarize her cash book in accordance <br /> With the Revenue Chart to facilitate posting to the accounting <br /> d:m <br /> records. <br /> i <br /> i <br /> 10 <br />