Local government is legal entity created as a Body Corporate. The council and the Administration make up the two sides. Both sides have defined roles as to what they can and cannot do. Thereby, creating a separation of powers between the two sides. In North Carolina, I chose the city of Henderson. My analysis will be for years 2012-2014 respectively. This local government’s budget will consist of the trends of revenue sources and balances (funds, surplus, deficits and how they impact the government budget. We will look at the ethical practices of financial policy on taxes, fees and charges. Then explore the internal/external challenges of revenue sources. Whereby, creating a vivid picture of the peaks and valleys in the City of Henderson’s financial positon located in North Carolina.
First, the trends of revenue sources and balances (funds, surplus, deficits and their impact on the government budget.) The city of Henderson encompasses approximately 10 square miles and is in the county seat of Vance County in North Carolina. The city is empowered to levy a property tax on real and certain personal properties within its boundaries. It is also empowered to levy various fees and rates for services to its citizens and customers. (Table of Contents: Exhibits-Introductory Section: Letter of Transmittal pages (c); (d).) The city is a full service city providing police, fire, water treatment and distribution, sanitary sewer collection and treatment, street maintenance, engineering, household sanitation services, including recycling, garage and fleet services, planning and community development, code compliant and general administration, finance and human resources. The city is home to nearly 1,000 businesses including approximately 15 manufacturers, 240 retailers, 250 service businesses and 8 distribution facilities, six major banks and several credit unions. Major manufacturing products include home furnishings, glass, pet food and Solar panels.
The City of...