Auditor of State Mary Mosiman released an audit report on the City of Adel on Dec. 31.
The City’s receipts totaled $10,837,271 for the year ended June 30, 2018, a 3.6 percent increase over the prior year. The receipts included $1,856,321 in property tax, $633,628 from tax increment financing, $3,556,432 from charges for service, $728,013 from operating grants, contributions and restricted interest, $476,425 from local option sales and services tax, $3,527,753 from note proceeds, $31,942 from unrestricted interest on investments and $26,757 from other general receipts.
Disbursements for the year ended June 30, 2018 totaled $11,405,872, a 43.7 percent increase over the prior year, and included $1,301,061 for capital projects, $1,153,014 for public safety and $992,771 for debt service. Also, disbursements for business type activities totaled $6,148,687.
The increase in receipts and disbursements is due to note proceeds received to fund water and sewer improvement projects.
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 website at auditor.iowa.gov/reports/audit-reports/.