Audit for fiscal year 2017 complete

Winkel, Parker & Foster, CPA PC today released an audit report on the City of North Liberty, Iowa, for the fiscal year ended June 30, 2017.

The city’s receipts totaled $29,980,354, an 11.8 percent increase from 2016. The receipts included:

• $8,986,095 in property tax and commercial/industrial tax replacement
• $4,389,642 in tax increment financing revenues
• $11,123,529 from charges for service
• $2,305,609 from operating grants, contributions and restricted interest
• $2,722,326 from capital grants, contributions and restricted interest
• $33,622 from unrestricted interest on cash investments
• $419,531 from other receipts.

The City received $21,452,521 from bond and loan proceeds during the year.

Disbursements for the year totaled $44,655,706, a 2.2 percent increase from 2016. The disbursements for governmental-type activities included:

• $8,882,559 for capital projects
• $5,309,615 for debt service
• $3,792,817 for culture and recreation.

Also, disbursements for business-type activities totaled $18,413,697.

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