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City of Osceola audit

Faller, Kincheloe & Co., PLC, Certified Public Accountants, Des Moines, Iowa released an audit report on the City of Osceola, Iowa.

The City’s receipts totaled $10,237,719 for the year ended June 30, 2018, a 23 percent decrease from the prior year. The receipts included $2,697,047 in property and other city tax, $551,828 from tax increment financing, $2,171,728 from charges for service, $902,591 ftom operating grants, contributions and restricted interest, $784,747 from capital grants, contributions and restricted interest, $846,679 from local option sales tax, $286,121 from hotel motel tax, $1,190,958 from gaming wager tax, $58,843 in other city tax, $712,251 from note proceeds, $9,724 from unrestricted investment earnings, and $25,202 from other general receipts.

Disbursements for the year ended June 30, 2018 totaled $11,362,168, a 26 percent decrease from the prior year, and included $3,030,701 for capital projects, $1,715,005 for debt service and $1,296,449 for public works. Also, disbursements for business type activities totaled $1,216,739.

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.

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