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Audit for the city of Huxley

Martens & Company, CPA, LLP has released an audit on the city of Huxley for year ended June 30, 2013.

Receipts ($12,410,252 - 17 percent increase)

• property tax - $872,407; tax increment financing - $2,281,768; charges for services - $1,436,560; operating grants, contributions and restricted interest - $534,454; capital grants, contributions and restricted interest - $176,728; local option sales tax - $360,618; unrestricted interest on investments - $32,903; net bond proceeds - $6,480,938; other general receipts - $233,876

Disbursements ($6,397,679 - 59 percent decrease)

• debt services - $2,547,380; public safety - $545,376; general government - $472,638; business-type activities - $1,346,714

The significant increase in receipts is primarily due to new bond proceeds issued to reduce interest cost; the significant decrease in disbursements is primarily due to decreased capital project expenditures and sewer debt service expenditures.

A copy of the audit report is available in the city clerk’s office, the Office of the Auditor of State and on the website, http://auditor.iowa.gov/reports/index/html.

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