Annual Audit Report for the City of North Liberty Released

BerganKDV, the firm hired to perform the annual audit of the City of North Liberty, has released its audit report for the fiscal year ending June 31, 2021.

The city’s receipts totaled $45,239,119 for the year ended June 30, 2021, a 6 percent increase from the prior year. The receipts included $11,504,858 in property tax, $5,987,424 from tax increment financing, $12,334,498 from charges for service, $4,245,439 from operating grants and contributions, $471,465 from capital grants and contributions, $47,309 from unrestricted interest on investments, $10,623,257 of bond proceeds, and sale of capital assets of $24,869.

Disbursements for the year ended June 30, 2021, totaled $39,735,430 an 11 percent decrease from the prior year, and included $3,021,471 for public works, $1,980,895 for general government, $4,237,738 for public safety, $140,929 for health and social services, $3,828,295 for culture and recreation, $1,917,325 for community and economic development, $6,022,038 for debt service and $7,410,437 for capital projects. Also, disbursements for business-type activities totaled $11,176,302.

The increase in receipts was due to a larger bond issuance in 2021 than in 2020. The decrease in disbursements was due decreased capital activity.

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 or here.