Audit Report for City of North Liberty Released

February 18, 2011 — Greenwood and Crim, P.C. today released an audit report on the City of North Liberty, Iowa for the year ended June 30, 2010.

The City’s receipts totaled $14,500,317, a 0.18 percent increase from 2009. The receipts included $4,962,759 in property tax, $1,389,368 in tax increment financing revenues, $6,871,186 from charges for service, $964,557 from operating grants, contributions and restricted interest, $21,392 from capital grants, contributions and restricted interest, $56,972 from unrestricted interest on cash investments, and $234,083 from other receipts.

The City also received $676,424 from State Revolving Fund note draws.

Disbursements for the year totaled $18,344,664, a 5.19 percent increase from 2009. The disbursements included $3,050,069 for debt service, $2,891,519 for capital projects, and $2,466,178 for culture and recreation. Also, disbursements for business-type activities totaled $5,460,093.

A copy of the audit report is available for review in the office of the Auditor of State and the City Clerk’s office.