http://webmail.libionline.net City of Beaumont Audit
 
Revenue is calculated by totaling funds received through taxes, fines, loans, & grants. I have audited the revenue for the City of Beaumont. The total revenue for the City varies depending on the source:
General Fund Bank Statements - $61,242,041.61
General Fund Deposits for July 2011 through June 2012 total $61.2 Million. Even without the Bond Debt, the City revenue was over $40 Million last year.

General Ledger - $62,367,493.55.
The General Ledger has $1.25 Million more in deposits recorded than the Bank. Traditionally the largest deposits of the day are recorded first, but in August, 2011 the Bank changed their statements to list the smallest deposits first in the hopes that someone in the City would notice the discrepancy in deposits.

Basic procedure for the City would be to record the money and deposit the funds, but the General Ledger shows that the deposit entries are made weeks after the money is deposited. Not one day of the general ledger matched the bank records.

Financial Transaction Report - $41,530,704
The City has declared on the Consolidated Statement of Revenue that Total Revenues for the year 2011-2012 were $19.7 Million less than the Bank Statement totals. The Financial Transaction Report is a State mandated document issued by the Office of the City Clerk verifying financial transactions.

2012-2013 Annual Budget - $28,009,000

Page 8 of the 2012-2013 Budget shows the Projected Revenue for 201-2012 is listed at $28 Million. This amount is $13.5 Million less than declared on the Financial Transaction Report and $33.2 Million less than the Bank Statements.

2011-2012 GAAP Audit – Unknown

 The City of Beaumont has stated the GAAP Audit for 2011-2012 “ Is not available”.

Now we know how much money came in and we know that $15 Million went to pay off Bond Debt....

…. but where did the rest of the money go?

 


Comments

10/13/2014 3:03am

The role of media in spreading the education is increasing day by day. The ability to learn things from watching television is enhanced in students. The informal learning as the educationists call it is getting rampant.

Reply

Matlab Project Assignment and Online Homework Help Matlab Project Help Matlab Project help can be found from our skilled programmers who have degrees and expertise in Matlab at our Matlab project help.

Reply
12/28/2015 1:33am

Our website is number 1 in Auditing Assignment Help and Auditing Homework Help. This is preferred destination for various students to get their Audit Projects and Homework Done.

Reply
12/28/2015 2:07am

We are No. 1 in Electronics Engineering Assignment Help; Hire us for your Electronics Engineering Project and Homework Help.

Reply

Get your finance homework help for assignments and projects from top finance writers. We are number 1 academic writing service when it comes to financial management assignments.

Reply

We are number 1 in MathCad help. This is leading website for getting the Mathcad Homework & Assignment help taken from. We also provide Tutors for Mathcad as well as do complete projects of mathcad.

Reply
12/28/2015 3:10am

Our website is number in Statistics/ Stats homework help. This is preferred destination for various students to get their Statistics assignment help taken from.

Reply

We are Number 1 Term Paper Writing and Essay Writing Service. Feel free to send us an inquiry for your custom term papers, essay writing help and dissertations.

Reply

Savings are good for future. Never know what come next.

Reply
08/10/2016 4:38pm

It must be takes a few days to write something like this. It's very useful!

Reply
11/21/2016 3:03am

Very rapidly this web page will be famous among all blogging viewers, due to it’s pleasant posts

Reply

Highly qualified information because it can provide useful info thanks.

Reply



Leave a Reply


Contact: libi@libionline.netCity of Beaumont Audit