2014 Bank Statements
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Clerk Treasurer Dan McMillan
Telephone: 788-4977 ext. #5100 Email: Dan.McMillan@beechgrove.com Clerk's Open Book Clerk Treasurer Duties Clerk Treasurer's Office Staff Access to Public Records IC 5-14-3 Public Information Request Form Archived Documents (Prior Years) Indiana Gateway Data Site Beech Grove Code of Ordinances Website Terms and Use Policy |
In reviewing these bank statements, keep in mind there are always outstanding checks out against the City Corporation and City Wastewater accounts. Outstanding transactions against the Main Street Loan Account (Loan Account for Businesses), RDC accounts and Criminal Investigation account are rare. Transfers are common, legal, and normal between the City Wastewater Account and the Corporation Account. Any year-end surplus for the city would be found in the City Corporation Account or the City Wastewater Account. A brief description of each account is listed below. For questions please email Clerk-Treasurer Dan McMillan at dan.mcmillan@beechgrove.com. |
City Corporation Account:
City Court Account:
City Utilities Business Account:
Criminal Investigation Fund Account:
Main Street Loan Account:
Redevelopment Commission Allocation Fund (RDAF) General Account:
Redevelopment Commission Allocation Fund (RDAF) Debt Service Account:
Indiana State Revolving Fund (SRF) Debt Service Reserve Fund Account:
- City Corporation Account - Commonly referred to as the General Fund, this account is the main bank account for the city. You will see money transfers from other accounts into this account, including the Criminal Investigation Account. Example: When the Police Chief orders new police cars, the money comes from their Criminal Investigation Account, but the City writes the check.The money is transferred into the City Corporation Account from the Criminal Investigation Account. Yes, this is the correct procedure and yes it is legal according to laws, Statutes, and the State Board of Accounts. Not all bank accounts have checkbooks. Very few do.
- City Court - This is the City Court account. It derives its income from violations of the law. No payroll, health insurance, taxes, etc., are paid out of this account. The city does not manage this account. The City Court does. The city cannot use this money.
- City Utilities (Wastewater) Business - Commonly referred to as the Sewage Account, this account is the second Main Account for the City Sewage Works. Again, transfers between this account and the City Corporation Account are common.
- Criminal Investigation - This account is commonly referred to as DEA money. It is used for purchasing police cars, equipment, and other items the police department may need. The money derived from his account comes from sting operations or merchandise confiscated from criminal investigations and arrest. The city cannot use this money.
- Main Street Redevelopment - This is not what it sounds like. It is an account used to loan Beech Grove businesses money. The only activity you will typically see with it is businesses making payments, and when necessary attorney fees for loans that are in arrears or default. The check is written out of the City Corporation Account and money is transferred from the this account into the City Corporation Account to cover those checks.
- RDAF General Account - This is the General Account for the Redevelopment Commission. If the RDC has any bills, such as bond payments, appraisal fees, etc., those payments are made from from this account.
- RDAF Debt Service Account - This account cannot be used by the Redevelopment Commission nor the City. It must retain a balance that is equal to two bond payments per year. You will not see any activity in this account.
- SRF Debt Service Reserve Fund Account - The State Revolving Fund (SRF) Bank Account is a debt service reserve for the 2004 SRF loan.