The tax collector is required to file an annual report to the governing body prior to which day of close of the preceding year?

• A. 60th
• B. 30th
• C. 90th
• D. 15th

Answer: (A)

The timing concept is about having the annual financial report ready for review by the governing body after the books are closed. The report sums up the year’s financial activity—collections, expenditures, delinquencies, refunds, and any budget variances—and needs enough time for accurate preparation once all accounts are reconciled. Requiring it by the 60th day after the close of the preceding year gives a practical window to finalize records and present a complete picture for oversight before moving into the next year’s cycle. The other intervals don’t fit typical practice: 30 days is usually too tight to compile a full year; 90 days can delay oversight further into the new year; 15 days is generally impractical for thorough accounting.