The
License and Treasury Division processes approximately
400 business permits, 4800 business tax renewals,
payments of utility tax from 300 utilities (gas,
electric, and telecommunications providers), and
all other cash deposits for the City. Visa
& MasterCard are accepted for payment on most
city transactions.
This
division is the "custodian of the cash,"
and, therefore, handles all banking and investment
functions. They prepare the daily cash deposits
and balance them to the cash register, and monthly
to the various bank statements and Accounting
Division records. The Revenue Supervisor invests
any idle moneys with an Investment Portfolio averaging
$52 million, and earning an average of $2.5 million
in interest annually for the City. The division
utilizes the MRC Business License Information
Service to detect new business and compare gross
receipts of businesses operating within the City
to what is reported to the Franchise Tax Board.
With this service the License Division can more
efficiently serve the business community and ensure
that more businesses are in compliance with license
regulations. |
