According to auditors Winther, Stave & Company, LLP, of Spencer, the receipts included $2,206,233 in property and other City taxes, $202,182 in tax increment financing collections, $523,884 from grants and contributions, $2,568,155 in charges for services, $157,948 in interest on investments, and $227,266 from other sources.
Receipts related to the Bacon Aquatics Center totaled $440,832 for the year ending June 30, 2008. The receipts included $27,350 in interest on investments, and $413,482 from grants and contributions.
Disbursements for the year other than related to the Bacon Aquatics Center totaled $6,347,715, a 3-percent increase from the previous fiscal year, and included $870,531 for public safety, $712,926 for public works, $587,665 for culture and recreation, $12,361 for community and economic development, $162,855 for general government, $1,283,427 for debt service, $139,788 for other capital projects, and $2,578,162 for business-type activities.
Disbursements related to the Bacon Aquatics Center totaled $757,531.
The auditor's report contains recommendations to City officials that they review certain areas of internal controls. The City has responded that it will review the areas of internal controls noted.
A copy of the City's audit report is available for review in the office of the Auditor of State, and the Cherokee City Clerk's office.