- TO:
- ALL COUNTY OFFICES
- FROM:
- ALYSON CAMPBELL, DIRECTOR
- SUBJECT:
- REAL ESTATE TAX EXPENSE
- Forms Manual Revision #6
DISCUSSION:
The purpose of this memorandum is to notify staff of a change to the Shelter Expense (FMXK/SHELEXP) screen. The warning message was developed based on Quality Control (QC) error findings due to staff entering the incorrect frequency code for real estate tax expense. Effective January 28, 2013, the Shelter Expense screen will display a warning message when a frequency code other than annual (ANN) is used for entering real estate taxes (TX) expense.
Example: Mr. Smith's real estate taxes in the amount of $550 are entered on the shelter expense screen with expense type TX and frequency code of monthly (MTH). At the bottom of the screen a warning message will display, "Taxes not entered as annual. Please review and update if needed."
Staff must review the frequency code for the real estate tax expense and determine if the code should be annually (ANN).
In a majority of situations real estate tax expenses are budgeted annually. However, the EU may elect to have real estate tax expenses averaged. This would be the only time the frequency code would be something other than ANN.
NECESSARY ACTION:
- Review this memorandum with appropriate staff
AC/ks