NCVTS County Financial Reports

1. NCVTS County Financial Reports September 26, 2013

2. Objectives • Gain information regarding the following NCVTS Reports: • County Finance Report • County Reconciliation Report • Net Distribution Report • Pending Refund Report

3. NCVTS Reports Background

4. Reports Background • General Rules for NCVTS Reports • Financial reports should include vehicle values, taxes and interest paid by jurisdiction. • The financial report will initially be provided by month of collection. A subsequent version will provide collections by registration month. Both reports will include a year-to-date summary page. • DOT will show gross collections, billing, credit card and debit card costs, and net revenue. • Costs will be extracted.

5. Reports Background • General Rules for NCVTS Reports • The levy consists of “bills for registrations/property taxes actually paid in full through the renewal/issuance process or created through the LRP process. • 5% first month interest remains in effect after July 1, 2013. • DOT Fiscal will provide a monthly Remittance Advice showing: • Overall collections for your county • Billing and collection costs • Credit card and debit card costs • Net collections after expenses are deducted

6. County Finance Report

7. County Finance Report • Primary purpose is balancing with DOT Remittance Advice • Secondary role is cost allocation • Obtained from VTS on a monthly basis • May be imported as a .csv or .xls file or keyed manually into your financial system • County or municipal finance personnel should contact the County Assessor for direct access to this report

8. County Finance Report • Report shows financial data in 13 tables • One table for each month of the Fiscal year, starting in July and ending with June • One final table giving a “Year to Date” summary. • The amounts in each table are based on payments made in that Fiscal month. • Each table breaks out financial data by Tax Jurisdiction.

9. County Finance Report • The financial data for each table is divided into four areas: • Billing Information – provides data for Levies (as originally billed or adjusted prior to payment) and number of vehicles as well as LRP (Limited Registration Plates) • Collections – shows amounts actually paid (after adjustments, if any) • This is the levy • Credit /Debit Card Cost Allocation – shows payment data made by Credit or Debit card • Total Collected and Total Uncollected – shows data about amounts paid and amounts unpaid (LRP)

10. County Finance Report • Valuations and Levy • The number of vehicles with renewals, issuances or LRPs. • The net value of registered vehicles (after adjustments made before payment), issuances and LRPs • The taxes and fees billed/collected through renewals, issuances and LRPs. • The taxes billed on vehicles issued an LRP

11. County Finance Report • Collections • The total value of taxes paid through renewals and issuances • The total value of taxes collected through the LRP process • The aggregate collection rate for LRP and Renewal collections

12. County Finance Report • Cost Allocation • 3 Categories of costs • Billing Costs • Credit Card Costs • Debit Card Costs (future) • Counties should allocate the lump sum costs across their taxing jurisdictions

13. County Finance Report • Total Collections/Uncollected • Provides • Interest collected for each jurisdiction • Total collections (Levy + Interest) per jurisdiction • Total LRP uncollected

14. County Finance Report • Cost allocation percentages are based on the contribution of each individual levy to the total of all levies. • Counties/municipalities may choose other methods for cost allocation • Counties no longer have the statutory authority to charge municipalities and other jurisdictions up to 1.5% of collections to offset collection costs for vehicles billed under the Tag and Tax Together program

15. County Finance Report • DOT Fiscal will provide a monthly Remittance Report showing: • Overall collections for your county • Billing and collection costs • Credit card and debit card costs • Net collections after expenses are deducted

16. County Finance Report

17. County Finance Report

18. County Finance Report

19. County Finance Report

20. County Reconciliation Report

21. County Reconciliation Report • This report provides detailed county payment and reversal data in VTS for the purpose of reconciling against distribution reports from STARS for a given date range. • Originally intended for testing purposes • Only looks at payments • The parameters for this report are: • Start date (inclusive) • End date (inclusive)

22. County Reconciliation Report

23. County Reconciliation Report Dataset: Reconciliation by “Year For” and Tax District

24. County Reconciliation Report Dataset: Reconciliation by “Year For” and Tax District cont.

25. Net Distribution Report

26. Net Distribution Report • The Net Distribution Report is a modification of the Daily Distribution Report and includes total levies collected by tax district and net adjustments including releases and refunds.

27. Net Distribution Report

28. Net Distribution Report • Recent updates: • Levy column only includes transactions from STARS • This will match County Finance Report and County Reconciliation Report • Net Adjustment column added • Includes changes to levy amounts due to adjustments and prorations that occur after the payment is made • Net Adjustment Interest column added • Includes changes to interest amounts due to adjustments and prorations after the payment is made • Total column renamed to Net Levy

29. Pending Refund Report

30. Pending Refund Report • This report shows prorated refund data by: • Tax District • Levy Type • Vehicle fee – only prorated in the case of full release or bill voidance • Tax • Interest for a given time period

31. Pending Refund Report • The parameters for the Report are: • Fiscal Year – in the form “2013-14”. • Time Period – a specific Month, Quarter or Year • Refund Types: • Proration • Adjustment >=100 • Adjustment <100” • Over payments are excluded from the report • Refund Status: • Approved • Pending

32. Pending Refund Report • This report pulls from three datasets: • Dataset 1 shows a breakdown by tax district and levy type • Dataset 2 is a summary of refunds by tax district (prorated) • Dataset 3 is a list of the parameters used to filter the data and the run date of the report.

33. Pending Refund Report

34. Pending Refund Report • Dataset 1: Refunds w/ Tax District and Levy Types Prorated

35. Pending Refund Report • Dataset 2: Summary of Refunds by Tax District • Dataset 3: Report Parameters

36. Report Matching

37. Report Matching The following three reports should match with each other (some adjustments may be necessary for reversals)

38. Report Matching The following two reports should match with each other