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CITY COUNCIL STAFF REPORT TO:Honorable Mayor and City Conciliate: November 18, 2019FROM:Matthew Bronson, City ManagerPREPARED BY:David Hale, City AttorneySUBJECT:Emergency Ordinance Approving Just
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U P D A T refers to the Uniform Payment Disclosure and Annual Tax report, which is used for reporting financial transactions in a standardized format.
Entities engaged in specified financial activities or transactions that fall under the reporting regulations are required to file U P D A T.
U P D A T is filled out by gathering the required financial information and completing the standardized forms provided by the regulatory authority, ensuring all sections are accurately completed.
The purpose of U P D A T is to promote transparency and accountability in financial transactions by providing a uniform framework for reporting.
Information required includes transaction details, parties involved, financial amounts, dates, and other relevant data as specified by the regulations.
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