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Hogan-Hansen Releases City of Marion's Audit Report

Post Date:01/25/2017 8:54 AM

Hogan-Hansen, A Professional Corporation, recently released an audit report on the City of Marion, Iowa.

The City’s revenue totaled $45,793,773 for the year ended June 30, 2016, a 10.7 percent increase from the prior year. The revenue included $21,888,862 in property tax and tax increment financing; $4,510,067 in local option sales tax; $4,931,445 in other City tax and special assessments; $9,368,518 from charges for service; $554,743 from operating grants and contributions; $3,826,473 from capital grants and contributions; $707,908 from unrestricted investment earnings; $19,524 from other general revenue; and a $13,767 loss on disposal of capital assets.

Expenses for City operations for the year ended June 30, 2016 totaled $41,067,528, a 2.1 percent increase from the prior year. Expenses included $9,875,554 for public safety, $7,310,091 for community and economic development, and $6,852,869 for public works. Expenses for business-type activities totaled $7,010,693.

It is the opinion of the auditing firm that the City of Marion’s financial statements as of June 30, 2016 fairly present the financial position and cash flows of the City and were conducted in conformity with generally accepted accounting principles.

A copy of the audit report is available for review in the office of the Auditor of State, the City Clerk’s office or online.

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