Clerk s Financial Software Application. Levy Creation and Setup

Transcription

1 Clerk s Financial Software Application Levy Creation and Setup Computer Arts, Inc. has streamlined the levy process to make it as simple as possible. This documentation is an overview of the processes needed to create the levy. Please keep the following points in mind when it comes to creating and setting up the county levy: The budget needs to be completed first. It is best to refer to your Published Budget for the information used when creating the levy. If any changes are made to your budget, the levies will need to be re-calculated with the updated numbers. If the budget has an approved status, changes cannot be made to the levy. Levies must match L-2 Levies need to be approved by the County Commissioners by the Thursday before the 2 nd Friday of September. The levies are then sent to the State of Idaho, Tax Commission by the 4 th Monday of September. CREATING A LEVY Calculating the Levy can be a difficult task. Computer Arts has streamlined the process to make it simple for our users. This feature is located in the Financial Control menu in the Budget Maintenance panel. 1. To add Levy Information, click on the Budget Maintenance icon located on the main toolbar. This will bring up the Select Budget for Maintenance window. April 2018 Levy Setup & Creation Page 1 of 8

2 a. Highlight the budget you will be working with. b. Click Levy Information button, this will bring up the List Budget Levy Detail window. 2. From the List Budget Levy Detail window, click the Add button or F6. April 2018 Levy Setup & Creation Page 2 of 8

3 3. In the Add Budget Levy Detail window the Levy Rate is calculated by the values that are entered on this window. Enter the Fund number and the Budgeted Expenses amount, which are required fields. Then enter values in all of the applicable fields that appear in white. Although these fields are not required, the program needs these values to calculate the most accurate levy rate. (Refer to corresponding image for more detail). a. To select the Fund, enter the Fund number, double click in the field or use the F4 key and select the fund. Once the fund is selected the Budget Expense Amounts for the budget chosen will populate. b. Enter the Percent Limit and/or the Carryover Limit (this is for your reference only although it s not used often and not always the same). The levy limit is set by the State (optional). Carryover Limit is associated with the fund (optional). To review the Maximum Statutory Levy Rates, please see this document: IAC Maximum Statutory Levy Rates (CTRL + Click to follow link). April 2018 Levy Setup & Creation Page 3 of 8

4 c. From your Budget enter the amount connected with the corresponding fund. This should be the same amount as the Approved Amount column under the Budget Expense Amounts. d. Enter the Other Revenue Sources anticipated to receive. The results from these fields transfer over to the Other Revenue calculation. State Funds This amount is used in the calculation of other revenue (revenue other than taxes), along with grants, fees, and other revenue. Grants This amount is used in the calculation of other revenue (revenue other than taxes), along with state funds, fees, and other revenue. Fees This amount is used in the calculation of other revenue (revenue other than taxes), along with state funds, grants, and other revenue. Other - This amount is used in the calculation of other revenue (revenue other than taxes), along with state funds, grants, and fees. Use this field to enter non-tax revenue amounts that do not fall into the other categories. April 2018 Levy Setup & Creation Page 4 of 8

5 e. Enter in the data into the Carryover Calculation. The results from these fields transfer over to the Cash Carryover calculation. Prior Year Cash Balance Enter the calculated cash carryover from the Cash Liabilities Report Reserve Enter the Reserve amount 1 st Quarter Estimated Expense Enter the estimated 1 st Qtr Expenses 1 st Quarter Estimated Revenue Enter the estimated 1 st Quarter Revenues Prior Year Outstanding Warrants Enter the Prior Year outstanding warrants/checks (if the OS Warrants are included in the Prior Year Cash balance, do not enter an amount in the outstanding warrants field). f. Enter the Total Market Value. This is the total assessed value of all property in the County. (Note: This value is determined by the assessor and will be the same amount on each fund) April 2018 Levy Setup & Creation Page 5 of 8

6 4. After all relevant data has been entered, click the Calculate button. The program will calculate the Cash Carryover, Other Revenue, Balance to Levy, and the Levy Rate. Notice: In the Balance to Levy Calculation section, the Cash Carryover and the Other Revenue are the sum of the amounts entered per category. a. The Levy Rate Calculation is based on the Budgeted Expenses minus the Cash Carryover amount minus the Other Revenue Sources. 5. Click Add. Continue to Add Budget Levy Detail for other funds as desired. Only one entry is allowed per fund. When finished, click Cancel. April 2018 Levy Setup & Creation Page 6 of 8

7 LEVY REPORTS Easily access the Levy Reports from Budget Maintenance/Reports: Levy Summary Report (FN724A) April 2018 Levy Setup & Creation Page 7 of 8

8 Levy Report (FN724B) Levy Listing (FN725) April 2018 Levy Setup & Creation Page 8 of 8