Storm Lake City Audit

An audit report was released this week on the City of Storm Lake by Hunzelman, Putzier, and Company PLC.
The audit on the City of Storm Lake shows that receipts totaled nearly 32-million dollars for the year ended June 30th, 2015, an 11.69 percent increase from the prior year. The receipts included over four-point-four million dollars in property taxes…over 728-thousand-500 dollars in tax increment financing collections…over 13-point-seven million from charges for service…over one-point-five million from operating grants and contributions…over six-point-four million from capital grants and contributions…over one-point-one million from local option sales tax…nearly 334-thousand from the hotel motel tax…nearly 34-thousand from unrestricted investment earnings…and nearly six-thousand from other general receipts.
Disbursements for the City operations for the year ended June 30th, 2015 totaled over 34-million-187-thousand dollars, a four-point-four percent increase from the prior year. Disbursements included over five-and-a-half million for debt service…over two-and-a-half-million for public safety…and over one-point-six million for culture and recreation. Disbursements for business type activities totaled over 19-point-four million.
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.