ACCT 567 WEEK 5 PROBLEMS 8-4 AND 9-4
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ACCT 567 WEEK 5 PROBLEMS 8-4 AND 9-4
The county collector of Lincoln County is responsible for
collecting all property taxes levied by funds and governments within the
boundaries of the county. To reimburse the county for estimated administrative
expenses of operating the tax agency fund, the agency fund deducts 1 percent
from the collections for the town, the school district, and the townships. The
total amount deducted is added to the collections for the county and remitted
to the Lincoln County General Fund.
The Village of Dover administers a defined benefit pension plan
for its police and fire personnel. Employees are not required to contribute to
the plan. The village received from the actuary and other sources the following
information about the Public Safety Employees’ Pension Fund as of December 31,
2011.
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