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The Accounting Division maintains the City's General Ledger System and processes payroll for all City employees. Other areas of concentration include preparation of W-2s, maintenance of fixed asset records, oversight of more than $5.8 million in City inventories, and sales and property tax reporting. This division ensures that all accounting and reporting systems are in compliance with generally accepted accounting principles, transactions are recorded accurately and in a timely manner, and appropriate budgetary funding exists for those transactions. The Accounting Division is comprised of seven employees and has an operating budget of $518,000.