The Official City of Norfolk Nebraska Home Page The Official City of Norfolk Nebraska Home Page

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309 N 5th St, Norfolk, NE 68701
Phone: (402) 844-2000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Finance News

Register to file Food & Beverage and Lodging Occupation Tax online

Food & Beverage/Lodging Occupation Tax

Comprehensive Annual Financial Report for year ending September 30, 2013

Economic Development Information (LB 840)

Quick Links

The City of Norfolk uses fund accounting to report on its financial position and the results of its operations. To accomplish efficient tracking and control spending, all funds are budgeted on a line-item cash basis, which differs from the financial statements that are prepared in accordance with generally accepted accounting principles. Under this basis Fund Balance is the funds' cash balance. Management of the City is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft, or misuse; that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles; and present supplementary schedules comparing budget to actual. Detailed reports are distributed monthly to all divisions for review and to facilitate internal control. The City also uses a formal encumbrance system, which appropriates funds for later payment and ensures that we cannot overspend those appropriations.