Norfolk Financial Report Brief, Term Paper Example

In order, list the largest 4 sources of general revenues.

The four primary sources of general revenues in 2013 for Norfolk include:

• Real Property Taxes
• Personal Property Taxes
• Sales and Use Taxes
• Consumer Utility Taxes

In order, list the activities with the highest charges for services (list 4)?

• Public Works
• Public Safety
• Health and Public Assistance
• Community Development

Which activities received the largest amount of operating grants (list 4)?

• Education
• Water Utility
• Wastewater Utility
• Community Development

Which activities received the largest amount of capital grants?

• Education
• Community Development
• Common Utilities Spending
• Health and Public Assistance

In order, list the largest 6 areas of expenses.

• Education
• Housing
• Public Assistance
• City Improvement and Development Projects
• Self and family insurance grants
• Community Development Projects

In the top right corner there is a list of net revenue and net expenses. Net expenses are in parentheses because they are negative- expenses exceeded program revenues. What activities have a net revenue (program revenue exceeded expenses)?

• Public Housing
• Education
• Health Support Operations

Was the city financially better at the end of the year or worse (bottom of statement)?

Financially, Norfolk City was at a much better state after the year 2013 compared to that of the fiscal report noted in 2012. It was primarily the emergent existence of massive transformations and adjustments in the system of public transportation and mobility that allowed for such concept of improvement to be specifically effective in redefining the course of social growth that the city accounts for.

The year 2013 was also reported to have been distinctively defined as supposedly among the most successful years of Norfolk’s financial performance especially noted as through the conditioning of employment; especially in relatively handling the creation of opportunities for the members of the society. Noticeably, it could be realized that somehow, the presentation of the financial performance of the city indicates the serious consideration of the administration in empowering the basic assets of the city; making that every asset is able to return the revenues as expected.

Work Cited

Norfolk City Financial Performance. http://www.norfolk.gov/ArchiveCenter/ViewFile/Item/519. (Retrieved on April 6, 2015).