FINANCIAL HIGHLIGHTS: Anderson, Larkin & Co., P.C. reported that the City had revenues of $47,028,249 for the year ended June 30, 2021, a 0.99% increase from the prior year and included $17,469,697 from property and other City tax, $13,795,720 from charges for services and $7,424,587 from operating grants. City expenses totaled $41,618,173, 0.05% decrease from the prior year, and included $14,791,712 for public safety, $9,531,705 for business-type activities and $8,910,069 for public works.
AUDIT FINDINGS: Anderson, Larkin & Co., P.C. reported 1 finding related to deficit fund balances. This is found on page 152 of this report. Anderson, Larkin & Co., P.C. provided the city with recommendation to address the finding. The City Council has a fiduciary responsibility to provide oversight of the City’s operations and financial transactions. Oversight is typically defined as the “watchful and responsibility care” a governing body exercises in its fiduciary capacity. A copy of the audit report is available for review in the City Clerk’s office, in the Office of Auditor of State and on the Auditor of State’s website at https://auditor.iowa.gov/audit-reports.
Read the full report under the finance page of the city website.