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Hogan-Hansen Releases City of Marion's Audit Report

Post Date:02/07/2018 11:07 AM

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

The City’s revenue totaled $48,788,270 for the year ended June 30, 2017, a 6.5 percent increase from the prior year. The revenue included $23,236,667 in property tax and tax increment financing; $5,013,090 in local option sales tax; $5,222,522 in other City tax and special assessments; $10,137,443 from charges for service; $1,218,824 from operating grants and contributions; $2,460,922 from capital grants and contributions; $851,096 from unrestricted investment earnings; $41,578 from other general revenue; and a $606,128 gain on disposal of capital assets.

Expenses for City operations for the year ended June 30, 2017 totaled $42,172,274, a 2.7 percent increase from the prior year. Expenses included $13,476,176 for public safety, $8,611,779 for public works and $4,276, 781 for culture and recreation. Also, expenses for business-type activities totaled $8,219,052.

It is the opinion of the auditing firm that the City of Marion’s financial statements as of June 30, 2017 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 now available for review in the office of the Auditor of State and the City Clerk’s office.