Audit report for City of North Liberty released

Winkel, Parker & Foster, CPA PC released an audit report on the City of North Liberty, Iowa for the fiscal year ended on June 30, 2013.
The report highlights the following:
Receipts of the City’s governmental activities increased approximately $13,000, less than 1%, from FY 2012 to FY 2013. Property tax receipts increased approximately $600,000, tax increment financing decreased approximately $72,000 and intergovernmental receipts decreased approximately $498,000. Bond proceeds were significantly less than the previous year, approximately $2.2 million versus the previous year’s $8.4 million.
Disbursements of the City’s governmental activities decreased approximately $25,000, or 0.12% from FY 2012 to FY 2013. Public safety disbursements increased approximately $160,000, public works disbursements increased approximately $204,000, community and economic development disbursements increased approximately $64,000 and general government disbursements increased approximately $117,000. Capital project expenditures decreased by more than $760,000.
The City’s total cash basis net position decreased 19.60%, or approximately $2,050,000, from June 30, 2012 to June 30, 2013. Of this amount, the net position of the governmental activities decreased by approximately $2,862,000 and the net position of the business type activities increased by approximately $811,000.
 
PDF version of the full report