Entitled Distribution Schedule

Navigate: Closed Tax > Distribution > Setup > Entitled Distribution Schedule

Description

NOTE: This task may not apply to your jurisdiction.

Use this task to define a schedule for entitled distribution.

California, and Riverside California

  • An Entitled Distribution Type called Final Settlement to Collections is available for the year end settlement process. For Riverside, this processes the equivalent of the SS3 distribution (3rd and final settlement to collections). The difference between this Final Settlement to Collections process and the existing Settlement to Collections process is that this process deals with non-teetered funds and how they are handled.

EXAMPLE:

Fund 1 has $100 original levy and 40% of it was advanced ($40). Nothing is paid. The amount distributed would $0 using Settlement to Collections. This process looks at which is greater, $40 or $0 and takes that as the Collected Amount and determines the Previous Distributed Amount as the amount already distributed ($40). So it is Collected Amount – Previous Distributed Amount = Current Distribution Amount, which is $40 - $40 = 0.

For the Final Settlement to Collections process,  Fund 2 has $100 original levy and 40% of it was advanced ($40). Nothing is paid. The amount distributed would be $0 – 40 = -$40 in the settlement to collections in that case. The Collected Amount represents the actual amount of collections made up to that point in time ($0) and the Previous Distributed Amount is the amount already distributed ($40). So it would be Collected Amount – Previous Distributed Amount = Current Distributed Amount, which is $0 - $40 = -$40.

Santa Barbara, California

  • Entitled charges distributions can still be processed even if the year-end final collections distribution has been completed.

Steps

  • Define a group, and entitled process description, select the entitled distribution process and define the entitled percentage, if applicable on the Set Up Entitled Distribution Schedule screen.

Dependencies, Prerequisites, and Setup

Teeter Buyout

If your jurisdiction allows the taxing authorities within your district to move from a non-teetered to a teetered distribution schedule, use the Teeter Buyout entitled distribution schedule available on the Set Up Entitled Distribution Schedule screen to define the entitled percentage and TA/TIF for the buyout settlement. Prior to setting this up, you must also set up the following:

  • Configure the Levy Fund Subcategory and the UDF of Exclude the Set Up Tax Funds task for all Levy funds to control how the particular fund trues up (teetered or non-teetered) and whether the fund receives advance distributions on secured amounts.

Levy funds are set up and managed via Tax > Levy Management > Setup > Tax Funds or Tax > Levy Management > Tax Entity Maintenance > Tax Funds, depending on your jurisdiction. Contact your Aumentum Implementation team for setup assistance.

NOTE: A distribution process called Prior year – corrections distributes adjustments to prior year bills in the current year for the Teeter Buyout schedule.