Maintain Rounding Allocation
Description
Select the tax authority funds for which a rounding amount above actual charges are to be allocated for a specific bill number setup.
Steps
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Select one or multiple Tax authority to view the available funds.
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Enter the Allocation ratio for each fund to which you want to allocate part of the rounding amount.
NOTE: Enter each ratio as a decimal amount. The total of all ratios should equal 1.00. For example, to allocate 50 percent of the rounding amount to a fund, enter 0.5. -
Click Finish to save the rounding allocation and return to Define Bill Number Setup.
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Click Cancel to return to Define Bill Number Setup without saving your changes.
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Tips
If you want to allocate half of the additional amount to county general fund and half to the school general fund, then both of these funds would have an allocation ratio of 0.5. If rounding is set up for the nearest even dollar, and the tax bill is $2011.19 before rounding, it will be rounded to $2012.00, and $0.81 will be split between the county general fund and the school general fund. Since 0.81 divided by 2 equals 0.405, the county general fund will actually get $0.41 and the school general fund will only get $0.40.
You cannot add charges to a bill, so if you select a fund which is not on a bill, the rounding amount will be allocated among all the funds that are on the bill.