MASON CITY – Kronlage & Olson, P.C., Certified Public Accountants today released an audit report on the City of Mason City for the year ended June 30, 2018.
The City’s revenues totaled $50,473,273 and included $22,572,705 of property and other taxes; $5,893,042 in federal and state funds; $19,595,160 of charges for services; and $512,071 of uses of money and property.
Expenses for the year totaled $50,615,265 and included $11,164,060 for public safety; $4,011,891 for public works; $374,804 for health and social services; $3,300,474 for culture and recreation; $2,224,006 for community and economic development; $2,613,006 for general government; $3,902,587 for debt service; $5,748,868 for capital projects; and $17,275,569 for business-type activities.
A copy of the audit report is available for review in the Office of Auditor of State and the City Clerk’s office.
Was that 4 MILLION debt service – perhaps TIF – TIF ?
No. Debt service are principal and interest payments made on bonds.
I had to read this twice, more spending than income? A revenue shortfall of $141,992 is not sustainable and should not be allowed by a public entity.
Yet City Council continues to hand out money for statues and other items that are not a necessity, especially when there is infrastructure that needs to be replaced, and property that has to be maintained.
It’s time City Council stops following orders from 9 N Federal, and listen to the needs of the people.
Excellent comment. The problem is they will never pay any attention to common sense. They are in the Chambers pocket, or maybe the Chamber is in theirs.
Tell it to a judge!!