Faller, Kincheloe & Co., PLC, Certified Public Accountants, Des Moines, Iowa, Feb. 8 released an audit report on the City of Osceola, Iowa.
The City’s receipts totaled $13,315,805 for the year ended June 30, 2017, a l4Yo decrease from the prior year. The receipts included $52,625,325 in property and other city tax, $490,686 from tax increment financing, $2,205,237 from charges for service, $626,081 from operating grants, contributions and restricted interest, $105,017 from capital grants, contributions and restricted interest, $51,002,423 from local option sales tax, $294,046 from hotel motel tax, $51,067,799 from gaming wager tax, $4,817,903 from note proceeds, $7 ,228 from unrestricted investment earnings, and $74,060 from other general receipts.
Disbursements for the year ended June 30, 2017 totaled $15,426,358, a l4o/o increase from the prior year, and included $55,739,278 for debt service, $52,111,459 for capital projects and $1,852,723 for public safety. Also, disbursements for business type activities totaled $1,247,729.
A copy of the audit report is available for review in the City Clerk’s Office, in the Office of the Auditor of State and on the Auditor of State’s web site at https://auditor.iowa.gov/audit-reports.