Audit for the Fiscal Year that Ended June 30, 2018, Completed

Winkel, Parker & Foster, CPA PC today released an audit report on the City of North Liberty, Iowa for the year ended June 30, 2018.

The City’s receipts totaled $30,314,952, a 1.12 percent increase from 2017. The receipts included $9,658,900 in property tax and commercial/industrial tax replacement, $4,074,528 in tax increment financing revenues, $11,499,383 from charges for service, $2,775,086 from operating grants, contributions and restricted interest, $1,984,940 from capital grants, contributions and restricted interest, $96,806 from unrestricted interest on cash investments, and $225,309 from other receipts. The City received $12,116,731 from bond and loan proceeds and $124,748 from the sale of capital assets during the year.

Disbursements for the year totaled $46,967,366, a 5.18 percent increase from 2017. The disbursements for governmental-type activities included $10,035,175 for capital projects, $4,899,061 for debt service, and $3,931,551 for culture and recreation. Also, disbursements for business-type activities totaled $18,926,292.

A copy of the audit report is available for review in the office of the Auditor of State and the City Clerk’s office at City Hal, 3 Quail Creek Circle.