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Friday, July 11, 2014

City receives annual audit report

Friday, March 20, 2009

(Photo)
Cherokee City Hall
An audit for the City of Cherokee has disclosed that the City's receipts, other than those related to the Bacon Aquatics Center, totaled $5,885,668 for the fiscal year ending June 30, 2008 - a .3-percent increase from FY 2007.

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.



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