The City of Cherokee's annual audit for the fiscal year ending June 30, 2010 was recently posted by auditors Winther, Stave & Co., LLP.
The auditors reported that the City's receipts totaled $6,327,037 for the year ended June 30, 2010, a 21-percent decrease from fiscal year 2009.
The receipts included $2,582,070 in property and other City taxes, $280,549 in tax increment financing collections, $545,501 from grants and contributions, $2,567,447 in charges for services, $49,121 in interest in investments, and $302,349 from other sources.
Disbursements for the year totaled $6,702,045, a 14-percent decrease from fiscal year 2009. This included $853,192 for public safety, $778,790 for public works, $775,285 for culture and recreation, $4,920 for community and economic development, $121,574 for general government, $1,526,802 for debt service, $18,543 for capital projects, and $2,612,939 for business-type activities.
The report also contains recommendations to City officials that they review certain areas of internal controls. City officials have responded that they will review the areas of internal controls as noted.
A copy of the audit report is available in the office of the Auditor of State, and the Cherokee City Clerk's office.