As a result of the faltering economy the City's revenue has declined significantly in 2010.  This has a negative effect on our budget and has resulted in dire financial projections for 2011.  As a City we must look for ways to cut expenses now so we can continue to provide services in 2011.  The Auditors office will continue to adjust the projections on a monthly basis and report monthly expenditures and provide financial information so the Administration and City Council can make the changes in the budget to keep our City functioning.

The following Financial Charts provide a sobering representation of our current cash flow;

         Monthly_Earnings_Tax_6-30-10.pdf                    Earnings_Tax-YTD_6-30-10.pdf                   GF_REVENUE_YTD_6-30-10.pdf                       

                 Earnings_Tax_Actual_vs_Predicted_6-30-10.pdf                   GF_REVENUE_ACTUAL_VS_PREDICTED_6-30-10.pdf

The City's Financial Reports that are updated Monthly can be viewed at Monthly Financial Reports.

Departmental  Budget reports can be viewed here Department Reports.

NEW - 2008 CAFR is completed and available for download now Norwood_2008_CAFR.pdf

The Auditor's office has spent the last several months making an exhaustive audit of the time banks for each City employee going back to the year 2000.  We have identified inconsistencies, corrected and updated the time banks.  Where we have found inaccuracies the banks have been balanced. 

The Auditor's office has recently found and reimbursed the General Fund with over $47,000.00.  We have also worked closely with the Law Department to save over $13,000.00 a year in property tax payments.