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14 <br />4.04 By the Numbers (Metrics). <br />Area Measure Target 2022 2023 <br />Debt Management Bond Rating Aaa Aaa Aaa <br />Cash Management Portfolio Invested 12/31 $ 17,034,999 $ 14,746,840 <br />Accounts Payable # of Invoice Paid - 4,504 4,404 <br /># of Checks Issued - 2,527 2,280 <br /># of ACH Transactions Sent 166 104 <br />Accounts Receivable # of Invoices Sent - 219 166 <br />Cash Receipting # of Payments Received - 42,559 46,938 <br />Payroll # of W2’s Issued - 98 106 <br />Utility Billing Accuracy of Billing 100% >99% >99% <br /># of Utility Bills Sent - 32,839 33,629 <br /># of Service Orders - 91 70 <br />Annual Audit # of Deficiencies Noted 0 0 0 <br /># of Findings 0 1 2 <br />Compliance With <br />Regulations <br /># of State Deadlines Not Met 0 1 2 <br />Risk Management Workman’s Compensation <br />Premium Experience Factor <br /><1.0 .69 .65 <br /> <br />4.05 Bond Rating. <br />The City’s bond rating is a measure of the City’s overall tax base, debt management and fiscal strength. Since <br />2005, the City of Orono has held a triple-A (Aaa) bond rating, the highest possible rating, and continues to hold <br />that rating in 2023. <br />4.06 Annual Comprehensive Financial Report (ACFR). <br />The annual audit is to provide assurance that the financial statements are free of material misstatement. The <br />auditor also considers the internal control relevant to the City’s preparation and fair presentation of the financial <br />statements. There were 2 findings in the 2022 audit performed in 2023. <br />4.07 Payroll/Human Resource. <br />In 2023, the Employee Handbook was updated to comply with state law changes. The accountant started <br />attending human resource classes to provide better internal service to staff on HR. <br />4.08 Accounts Payable. <br />Staff implemented a streamlined solution for accounts payable processing, to get invoices paid on time. <br />4.09 Utility Billing (UB) and Administration. <br />176