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.