The accounting and reporting policies of the city of Seattle are regulated by the Washington State Auditors delegacy and conform to generally accepted accounting principles for governments as positive(p) by the Governmental Accounting Standards Board (GASB). The City of Seattle (the primary coil government for pecuniary reporting purposes) consists of the funds, departments, agencies, boards and commissions over which the City exercises financial accountability, and a component unit over which the City is not financially accountable but is required to be report due to the nature and significance of its relationship with the City.
The General inventory is the chief operating fund of the City.
It is comprise of thirteen sub-funds: General, sagaciousness/Claims, Arts Accounts, Cable Television Franchise, Cumulative Reserve, Neighborhood Matching, phylogenesis Rights, Emergency, Special Employment Program, Industrial Insurance, Unemployment Compensation, Health Care, and Group enclosure Life Insurance. Total revenues of the General Fund amounted to $914.7 million, a slump of $44.1 million, 4.6 lower than 2007. Tax revenues decreased by $24.7 million, a 3.2 percentage drop. Tax revenues in 2008 were down due to the economic retardation in the region, declining new construction, and the dramatic decline in very estate sales. Program income, interest, and miscellaneous revenues decreased by $15.5 million....If you hope to get a full essay, order it on our website: Orderessay
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