The following is a report based on the $10 million allocated to the city council this year. It summarizes the way the funds will be been used, and this includes operational and capital requirements and subsidizing nonprofit organizations. The money will also be used as an incentive to attract more business to the city.
The report is a summary of how the money was subdivided on the basis of how important a particular need was, and how best it was going to serve the members of the city. In addition, it includes an integration of fund accounting and financial control. It will go further to describe how an analysis of the financial statements and budgets lead to better administrative decisions. The report will also illustrate the application of budgets as a disciplinary process. It includes a reflection on control and management of public expenditures. Finally, it focuses on government financial reporting requirements, and how they will be followed.
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