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<br />THE CITY <br /> <br />The City of Casselberry is located in Central Florida and is part of the greater Orlando metropolitan area_ <br />The area has conSistently ranked as one of the fastest growing areas in the United Stales. 1(-18 City is <br />primarily a retail, olliee. and residential area with a small amount of light industrial. Like all other cities in <br />Seminole County. the City operates according to a Commission/Manager form of government. with live <br />elected City Commissioners. one 01 wtiom alSO serves as Mayor and Commission Chairman and with a <br />professional. appOinted City Manager. <br /> <br />The City at Casselberry is one of seven municipal governments within Seminole County. The City <br />provides a full range of services to its 24.930 citizens. Included in these services are traditional city <br />junctions such as police and fire protection, advanced life support servIces, sanitation, road maintenance. <br />w8ter and sewer operations, parks and recreation, planning and community development. as wEll as <br />suppOr1 activitiES Jor city governmental programs <br /> <br />In terms 01 Its phYSical development. the CIty of Casselberry is a mature and a relatively densely <br />developed city The City's Infraslructure serves a stable, but slightly increasing population and reqUIfEs <br />expenditures pnmarlly 1m maintenance and modernization of facilities rather than rapid grovvth The <br />City's polICY is to keep Its infrastructure sale and functional, and gradually improve services. while <br />containing and limiting the tax burden to its residents. <br /> <br />ACCOUNTING SYSTEM, tNTERNAL ACCOUNTING CONTROLS, <br />AND BUDGETARY CONTROL <br /> <br />The City's accounting records for General, Special Revenue, Debt Service, and Capital Projects Funds <br />are maintained on a modified accrual basis Revenues are recognized when they become measurable <br />and available, while expenditures are recorded at the time the related fund liabilities are incurred <br />Accounting records for Enterprise, Internal Service and Pension Trust Funds are maintained on a full <br />accrual basis <br /> <br />In designing and developing the City's accounting system, consideration is given to the adequacy of <br />internal accounting controls Internal accounting controls are designed fo provide reasonable. but no! <br />absolute, assurance regarding' <br /> <br />1 The safeguarding oj assets against loss lrom unauthorized use or dispOSition: and <br />2 The reliability cf linancial records lor preparing financial statements and mainlainlrlg accountabiiity lor <br />assets. <br /> <br />The concepl or reasonable assuranCE recognizes that <br /> <br />, The cost 01 a control should not exceed the benefits likely to be derived; and <br />2 The evalua\lon 01 cost and benelits requires estimates and judgments by management. <br /> <br />All lnlernal con1rol evaluations occur within the above framework. We believe that the CIty's internal <br />accounting centrols adequately safeguard assets. <br /> <br />Budgetary control. in conformance with the City Charter and Florida Statutes, is maintained through <br />constant revIew by the Finance Director. Budgetary responsibility for the General, Special Revenue, Debt <br />SeNice. Capllal Projects and Enterprise Funds is established at the fund level. Detailed monthly budget <br />reports are prepared for each department. Interim financial statements are provided for internal use <br /> <br />v <br />