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Hogan-Hansen Releases City of Marion Audit Report

Post Date:04/29/2014 11:11 AM
Hogan-Hansen, A Professional Corporation, recently released an audit report on the City of Marion, Iowa.

The City’s revenue totaled $41,697,547 for the year ended June 30, 2013, a 9.9 percent increase from 2012. The revenue included $16,925,535 in property tax; $4,378,840 in local option sales taxes; $2,127,352 in other taxes; $3,371,082 from road use tax; $7,393,246 from charges for service; $747,074 from operating grants and contributions; $5,993,521 from capital grants and contributions; $799,912 from unrestricted investment earnings; $24,713 from other revenue; and a $63,728 loss on sale of capital assets.

Expenses for the year totaled $34,736,496, a 24 percent increase from the prior year, and included $8,892,494 for public safety, $10,857,162 for public works, $3,801,759 for culture and recreation, $1,838,248 for community and economic development and $1,908,941 for general government. Interest expense totaled $819,066. Business-type activities expenses totaled $5,971,012.

It is the opinion of the auditing firm that the City of Marion’s financial statements as of June 30, 2013 fairly present the financial position and cash flows of the City and were conducted in accordance with generally accepted accounting principles.

The report includes recommendations to the City Council and other City officials.

A copy of the audit report is available for review in the office of the Auditor of State, the City Clerk’s office, and online at www.cityofmarion.org.

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