City of Tigard-Samarinda Kota Resource Cities Program _ ,
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City of Tigard — Samarinda Kota Samarinda/Tigard Partnership
Resource Cities Program
" , * � • The City of Tigard is proud and honored to be in
",. partnership with the City of Samarinda!
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_ September,2002
Samarinda/Tigard Partnership Samarinda/Tigard Partnership
■The partnership started in January, 2002 with • Then continued in June, 2002 with a delegation
the visit to Samarinda by our City Manager and from Samarinda visiting Tigard!
Finance Director.
Aga _ .
Ki- r.,1.11'.'-'ef , „
Samarinda/Tigard Partnership City of Tigard
Finance Department
Financial Operations
■Now we are proud and honored to be Division
continuing with this partnership ons
this visit! ' i lir
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14117—_ , V
Roger Dawes
Tom Imdieke )11,...
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Financial Operations Utility Billing Section
Division
;.
• Water and Sewer .
•Sections Billing
—Accounting .
• of Past Due �`
—Payroll Accounts
-Ri—Utility Billing 0,
—Finance ` ■ Customer Support
Support/Budgeting '' µ
—Purchasing ,, v��,, _ • Meter Reading Back E
Up ` :.,'.
Accounting and Financial Reporting Accounting and Financial Reporting
Section Section - Payroll
• General Ledger
• Accounts Payable&
Receivable ..
• Payroll _
• Consolidated Annual "" w,o $r ,
Financial Report(CAFR) •
Payroll Processing -�
Purchasing Section Where the Money Comes From!
a Y «�� Major Revenue Sources
are from Property Taxes
IF* � and Fees and Charges
• Purchases Good& AN,,
Services
• Contract Management
2
Where the Money Goes! Accounting for The Funds!
-� =u-- ■The City uses double-entry accounting to
=: r ..r,....el.d.M.,,,,.� record and account for the receipt and
expenditure of these funds!
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•
Double-Entry Accounting Double-Entry Accounting
• Doubmake sure that
is an accounting method to
ly
make sure that all accounts are properly
balanced.
• Double-entry is also a system that accounts
for every aspect of a transaction:
—Where it came from, •Double-Entry Accounting is used in
—Where it went to. both private enterprise and
• This from and to aspect of a transaction governmental accounting.
(called
double-entry crediting
riiand debiting is what the ■In double-entry accounting, the
tdebits must always equal the
credits.
Double-Entry Accounting Double-Entry Accounting
• Debit and Credit • Debit and Credit Example
-� If gasoline is purchased for$20,the
entry would be:
—A double-entry transaction is a transaction
that appears in at least two accounts. An cash Gasoline
account is debited by an amount exactly Debit c'20 it n20it Credit
equal to what the other(s) is credited.
The Debit equals the Credit!
3
Double-Entry Accounting Using Accounts
■ A T-account is a simplified depiction of an
account. It is a way of looking at how
■Accounts are used to provide an transactions are accounted for in double-
efficient method to categorize entry accounting.
transactions!
Name of Account
Debit Credit
Using a T-Account Chart of Accounts
■A T-account is a way to display a A chart of accounts is used to classify revenues and
an account where the debits are expenditures by specific types within each fund:
shown on the left, and credits are Revenues
shown on the right! •Property Taxes
•Interagency Revenues
Name of Account •Fees and Charges
Debit Credit •Utility Fees and Charges
•Fines
•Miscellaneous Revenues
Chart of Accounts Using a T-Account
■ A chart of accounts is used to classify revenues and
expenditures by specific types within each fund: Recording Revenues and Expenditures
Expenditures
•Personal Services Revenues Expenditures
•Materials and Services Debit Credit Debit Credit
•Capital Outlay
for for for for
(Expenditures are also classified by organizational unit Decrease Increase Increase Decrease
and program within each fund)
4
The Accounting Equation Fund Accounting
Assets-Liabilities =Fund Balance
• Fund accounting keeps track of money
Asset Accounts I.iabi Iit)Accounts Pnnd Halaoc`d raised and spent for a specific activity or
Debit Credit Debit Credit Debit Credit
set of activities.
for for for for tie for
Increase Decrease Decrease increase Decrease Increase
• Funds are established by the governing
*Assets represent what the City owns or is due. body and some are required by law.
*Liabilities represent what the City owes.
Fund Accounting Financial Statements
• The City uses 30 funds to record and classify revenues ■ Balance sheets are used to report the
and expenditures and are grouped into six major financialosition of each fund to show if
categories: there are enough assets on hand to pay
—General Fund its bills.
—Enterprise Funds
—Special Revenue Funds •Statements of revenue, expenditures,
—Capital Projects Funds and changes in fund balance are used to
measure the operating results of a
—Internal Service Funds specified period.
—Debt Service Funds
(A fund is a self-balancing set of accounts)
Financial Reporting
Processing Data Journal Entry
•Journal Entries M=¢ —
•Cash Receipts/Accounts Receivable II
•Purchase Orders/Accounts Payable r, 4 1
■Invoices a rIs_
•Payroll
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Computer Accounting Software Computer Accounting Software
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General Accounts Rocha. Cash PaysoI Bari< Clewing il) Al fol As41 . .*1 Ail
Ledger Payable Odes, Receipts Roc. House
Account Divlea, Jouinol System He Ek
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Financial Reporting
Computer Accounting Software Summary Trial Balance
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Overview
The Accounting Cycle City of Tigard
Step 1 Analyze transactions
Step 2 Record the effects of the transactions Questions?
Step 3 Summarize the effects of transactions
a. Posting journal entriess
Terima kasih•
b. Preparing a trial balance •
Step 4 Prepare reports
a. Adjusting entries AAA
b. Preparing financial statements n;;;:`
c. Closing the books
8