The city’s receipts totaled $1,171,128 for the year ended June 30, 2017, a 13.8 percent increase over the prior year. The receipts included $207,688 in property tax; $270,201 from tax increment financing; $326,275 from charges for service; $215,253 from operating grants, contributions and restricted interest; $120,503 from local option sales tax; $5,300 from unrestricted interest on investments and other general receipts of $25,908.
Disbursements for the year ended June 30, 2017, totaled $1,020,422, an 8 percent decrease from the prior year, and included $191,203 for general government, $152,020 for culture and recreation and $147,105 for debt service. Also, disbursements for business type activities totaled $277,662.
The significant increase in receipts was primarily the result of increased tax increment financing receipts, while disbursements decreased due to less equipment purchases and road projects occurring in fiscal year 2017.
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/reports/1721-0814-B00F.