The tax agency fund of Eden County collected $2,000,000 for the Eden School District,$1,000,000 for the Village of Edenton,$1,200,000 for the Eden Park District,and $700,000 for Eden County. County General Fund employees handle the collections,and a 3 percent collection fee is charged all units except the county. The amount to be remitted to the county General Fund would be:

Question

Quizplus · Accepted Answer

The collection fee of 3 percent would be charged to all units except the county. Therefore, the total amount of fees collected would be ($2,000,000 + $1,000,000 + $1,200,000) x 0.03 = $114,000. This $114,000 would be deducted from the total amount collected, which is $2,000,000 + $1,000,000 + $1,200,000 + $700,000 = $4,900,000. Therefore, the amount to be remitted to the county General Fund would be $4,900,000 - $114,000 = $786,000.

The Tax Agency Fund of Eden County Collected $2,000,000 for the Eden