For Immediate Release:
For more information contact: Justin Yarosevich
Storm Lake, Iowa - The City of Storm Lake and their independent auditing firm of Winther, Stave & Co., LLP has released an audit report on the City of Storm Lake, Iowa as of June 30, 2011.
The City’s revenues totaled $19,533,478 for the year ended June 30, 2011, a 16.2 percent increase from the prior year. Revenues consisted of $3,228,638 in property tax, $510,733 for tax increment financing revenues, $1,496,467 for other taxes, $11,151,957 from charges for services, $2,577,184 from operating and capital grants, contributions, and restricted interest, $68,723 from unrestricted investment earnings, and $499,776 from other general revenues.
Expenses for City operations totaled $18,954,720, a 7.6% increase from the previous year. Expenses included $2,369,419 for public safety, $2,101,998 for culture and recreation, $1,824,359 for public works, and $1,064,946 for interest on long-term debt.
Expenses for business type activities totaled $10,256,562.
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 web page at http://auditor.iowa.gov/reports/reports.htm.